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Guangdong announces its plan for implementing "One Belt One Road" initiative

2015-June-4       Source: Newsgd.com

Guangdong announced the implementation plan for Chinese President Xi Jinping's "One Belt One Road" (OBOR) initiative to develop into a strategic hub, economic cooperation center and essential development engine.

Yesterday (June 3), Guangdong announced the implementation plan for Chinese President Xi Jinping's “One Belt One Road” (OBOR) initiative. It is said that Guangdong will develop into a strategic hub, economic cooperation center and essential development engine.

On the press conference yesterday, He Ningka, director general of Guangdong Development and Reform Commission introduced the crucial cooperation proposals with OBOR countries on following 9 aspects, including infrastructure construction, foreign trade, overseas investment, maritime projects, energy exploitation, financial industry, tourism industry, cultural exchanges and foreign affairs.

Moreover, Guangdong makes out a list for giving priority to 68 projects that amounts to 55.4 billion USD covering infrastructure construction, energy and resources, agriculture, fishing, manufacture and service industry.

According to He, Guangdong's implementation plan has three major characteristics to reflect its economic and geographical advantages compared with other provinces. It includes construction of the ports group in the 21st Century Maritime Silk Road, cooperation with Hong Kong and Macao, having economic cooperation with OBOR countries.

Guangdong Free Trade Zone can promote Guangdong’s participation in OBOR construction, said Wang Tao, deputy inspector of Guangdong Commerce Department. For instance, GD FTZ ,with advantages on financial service and information technology, will be a window for promoting investment cooperation with OBOR countries. And, Guangdong enterprises are encouraged to have investment and trade with OBOR countries through FTZ

Backgrounder: the close relationship between GD and OBOR countries

Guangdong is the province has the most close connection with OBOR countries on foreign trade volume and cultural exchanges.

In 2014, the trade volume between Guangdong and OBOR countries reached 131 billion USD, covering 22.4% of mainland China’s trade volume with OBOR countries. In 2014, Guangdong’s foreign direct investment on OBOR countries reached to 1.72 billion USD, covering 3.4% of mainland China’s total

Besides, most South Asia and Southeast Asia countries have set up their consulate generals in Guangzhou, the province’s capital city, which has already built up the Sister-City relationship with 21 OBOR countries.

 

Editor: Will

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