Projects worth $11.6b settle down in Guangzhou's airport economic zone

A total of 43 projects with investment value surpassing 70 billion yuan ($11.6 billion) announced to settle down or start construction in Guangzhou airport economic demonstration zone on Oct 25.

These projects cover areas including major infrastructure facilities, aeronautical maintenance and aviation logistics and aviation financing.

43 projects with investment value surpassing 70 billion yuan announced to settle down or start construction in Guangzhou airport economic demonstration zone on Oct 25. [Photo/southcn.com]

The SF Express South China express delivery transshipment center is one of the highlighted projects that settled in Guangzhou on Oct 25. The project covers an area of more than 20 acres with an investment amount of 700 million yuan. The project is projected to be completed in 2020 and by then a total of eight freight planes will be put into use in the center, hoping to annually handle 150, 000 tons of mail cargo.

Other companies signed cooperation contract to settle in Guangzhou's airport economic zone on Oct 25 include China Southern Airlines Capital Holding, YTO Express, Baoneng Investment, Vip.com and Guangdong Aerocity Holding.

According to Jing Gongbin, general manager of China Southern Airlines Capital Holding, the new project integrates industrial investment, financial business and capital operation and will become a first-rate capital holding company in the air transport industry.

Vip.com, a leading private e-commerce giant in Guangzhou, will invest more than 500 million yuan to set up an airport cross-border e-commerce headquarters and will hopefully contribute more than 30 million yuan to the local tax revenue annually.

Huang Hongying, vice president of Vip.com, spoke highly of Guangzhou's efficiency in promoting the construction of Guangzhou airport economic demonstration zone, saying that it only took 50 days for the company's project to finally settle in Guangzhou.

Guangzhou has been committed to promoting the airport economic zone since the city was approved to build a national level airport economic demonstration zone last year. The city has rolled out more than 60 policies and streamlined over 50 items that require government reviews. By the end of 2019, a total of 80 key projects will be completed, with total investment amount reaching more than 300 billion yuan.