Guangzhou plans to invest RMB 109 billion
2014-February-24 Source:
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The fourth session of the 14th Guangzhou People's Congress was held on the morning of Feb. 18 at the Century Grand Hall of the Baiyun International Convention Center. Guangzhou Mayor Chen Jianhua presented a work report to the congress on behalf of the municipal government.

Speaking of the general requirements of the government's work in 2014, Mayor Chen stressed that the government will remain dedicated to public livelihoods and conscientiously implement the 100 key jobs and 100 high-priority projects to promote healthy socio-economic growth and build a low-carbon, smart and happy city.

Mayor Chen revealed that Guangzhou will invest RMB109 billion this year on 136 key projects, including automotives, LCD, e-commerce, the Internet, communications and navigation. He emphasized that the play will be allowed to play a decisive role in resource allocation, a negative list will be explored for the investment sector, and investment will be open to private capital across the board, and market principles will be followed in financing.

According to the report, Guangzhou will promote the construction of the Baiyun Airport Comprehensive Bonded Zone, Nansha Bonded Port, Guangzhou Free Trade Zone, and other special customs-supervised zones to create the conditions for the establishment of a free trade zone.

(Translated by Guangzhou Association of Foreign Affairs Translators)

Editor: Olivia
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