Guiyang's open economy achieves rapid growth in 2021

Guiyang city – capital of Southwest China's Guizhou province – last year experienced rapid growth in foreign trade, as well as stable foreign investment and innovative development of the service trade in its open economy.

In 2021, the Guiyang National High-tech Industrial Development Zone and the Guiyang Economic and Technological Development Zone established national foreign trade upgrading and transformation bases, while the Guiyang Free Trade Zone was selected as one of China's 13 national trade processing industrial parks.

Moreover, Guiyang has set up a workstation in the Yangtze River Delta area to cooperate with foreign-owned company associations in Guangzhou, Suzhou and Ningbo to attract more investment.

Last year, Guiyang's foreign investment in actual use accounted for 75.6 percent of the province's total and paid-up investment of major projects topped $100 million.

After being recognized as China's demonstration city for service outsourcing in 2021, Guiyang has promoted both the service trade and service outsourcing. It generated $1.6 billion of trade in services last year, $980 million worth of contracts in services outsourcing and executed contracts for outsourcing service worth $640 million.

Last year, Guiyang attended the 18th China-ASEAN Expo as a guest of honor and organized for 120 foreign trading companies to attend the fourth China International Import Expo.

It also held a global digital service trade dialogue at the 2021 Big Data Expo and organized 20 service trading companies to attend the China Beijing International Fair for Trade in Services – all in order to showcase Guiyang's innovation and the opening-up of its economy to the world.