Guangzhou looks to open up more industries and improve transport network
Guangzhou is stepping up efforts to upgrade its economy, with plans to open more industries to foreign investors and a big investment in improvements to the city's transport network this year.
The capital of Guangdong province, which is waiting for approval from Beijing to set up a free-trade zone in its Nansha district, is now compiling a list of the types of investment that would be excluded from such a zone.
Xiao Zhenyu, director general of Guangzhou's Bureau of Foreign Trade and Economic Co-operation, said yesterday that it was a step towards opening up some manufacturing and service sectors to foreign investors.
An official said some service industries, such as the medical, legal and education sectors, would first be opened up to Hong Kong and Macau professionals before being expanded to people from elsewhere.
Guangzhou is banking on co-operation with Hong Kong and Macau to reinforce development of its service industry, with Nansha positioned as the "bridgehead" to promote the co-operation, especially in the logistics sector.
"We have plans to further deepen our co-operation with Hong Kong companies regarding the integrated logistics services for home appliances," said Zhou Hai, deputy director general of Nansha's Bureau of Economy and Trade.