Guangdong issues plan for promoting high quality development of trade → | World-Packing

Key words: Guangdong trades globally, 21st century maritime silk road, cross-border e-commerce, manufacturer in shenzhen, export market

Article author: Bon Xie

On May 8th, a conference highlighting Guangdong’s high-quality development of trade was held in Guangzhou, also an action plan for promoting high-quality development of trade was published recently, to develop the province into a trade powerhouse by 2025 with ten key projects.

According to the plan, the value of Guangdong’s import and export of goods will continue exceeding 7 trillion yuan, with an improved trade structure by 2022. And a higher-level open economy system with new advantages in trade competition will be established by 2025.

In order to achieve the above goals, Guangdong will launch ten key projects for high-quality trade development in sectors of digital trade, new business models, “Guangdong Trades Globally”, exhibition promotion, major trade platforms, industrial chain investment promotion, developing leading trade enterprises, building a Greater Bay Area International Consumer Hub, reform of customs clearance facilitation, innovation of trade and finance.

Know more about the ten key projects.

Digital trade: Guangdong will pilot measures to encourage companies to popularize digital trade and intelligent management, with Guangzhou and Shenzhen as the main engines.
New business models: Guangzhou will mainly cultivate new business models, including cross-border e-commerce, market procurement trade, offshore trade, and entrepot trade. The province will double the scale of new business models in five years, and export market procurement trade will exceed 500 billion yuan in 2025.
Guangdong Trades Globally: Guangdong plans to hold over 100 exhibitions themed “Guangdong Trades Globally” online and offline every year. By 2025, Guangzhou will encourage over 10,000 foreign trade enterprises to participate in exhibitions, encouraging companies to expand major markets in ASEAN, Africa, Russia, Japan, and the United Kingdom.
Exhibitions Promotion: Guangdong will upgrade the level of the Canton Fair and concentrate superior resources to level up the guangdong 21^st century maritime silk road international expo, the China processing trade products fair, and others to be international high-end exhibitions.
Major Trade Platforms: Guangdong will continue developing the import trade promotion zone in Nansha of Guangzhou and promote the special customs supervision zones (SCSZs) and economic development zones. By 2025, the import and export volume of SCSZs and economic development zones above the provincial level will reach 1 trillion yuan.
Investment to industrial Chain: Guangdong will encourage domestic and foreign investment to the entire industrial chain, especially around 20 strategic industrial chains, by compiling industrial investment maps, establishing industrial chain investment alliances, and improving the connecting mechanism between major transnational companies and provincial officials.
Leading Trade enterprises: Guangdong will strive to attract at least ten more regional headquarters of multinational corporations. Also, the province will cultivate several global supplu chain suppliers and leading enterprises of processing trade and OEM manufacturing with world-class manufacturing capabilities.
GBA Int’l Consumption Hub: Guangdong will accelerate developing international consumption center cities in Guangzhou and Shenzhen, layout regional consumption centercities, and initiate several duty-free shops at ports and downtown cities.
Customs Clearance Facilitation: Guangdong will carry out particular actions to facilitate cross-border trade and further promote port efficiency and fee reduction.
Trade finance innovation: Guangdong will expand the scale of trade financing carry out pilot projects in trade finanace and build trade finance platforms. The province will support the development of financial innovation platform for supply chains in Dongguan and other places.