The Guangzhou Government released its 2008 White Paper on Foreign Trade and Economic Cooperation in Hong Kong on March 25th. On the basis of summarizing the development of Guangzhou's open economy in 2007, the White Paper analyzed the development opportunities and emphases of Guangzhou's open economy this year, providing detailed guidance for foreign investment in Guangzhou.

The opening up of the service industry is a key subject in this year's White Paper. It not only stresses "strengthening in earnest the foreign cooperation in the modern service industry and boosting the implementation of the strategy of 'retreating the secondary industry and promoting the tertiary industry' in central urban areas", but also enriched the contents of finance, conference and exhibition, logistics, and outsourcing, it also introduces in length the Guangzhou Outsourcing Demonstration Park, Headquarters Economy Business Area, Logistics Park, Network Games and Ani-comic Industrial Base and describes in detail the development situations and capital introductions of the key industries and parks of the modern service industry.

Xiao Zhenyu, Director of the Guangzhou Foreign Trade and Economic Cooperation Bureau, believes that Hong Kong and Guangzhou have a high degree of complementary resource advantages in the respect of the modern service industry, which shall be brought into full play to drive the deep integration of the modern service industries. "Guangzhou and Hong Kong are the dream team to develop the modern service industry hand in hand. If a closer Guangzhou-Hong Kong service circle could be established, it would be a great boost to improve the competitive strength of the two in terms of global industrial competition and expand the development space for the service industry."

Editor: Yan