Fujian head official vows to further open up

Fujian is looking to promote an open economy of higher standards as a key driver for local economic growth.

Speaking at the 2018 International Investment Forum held in Xiamen on Saturday, Yu Weiguo, Party chief of Fujian, pointed out that opening-up and collaboration are the main trends of the time and that Fujian will follow that path and accelerate its construction of a more open economy.

According to Yu, Fujian's development has epitomized the country's reform and opening-up over the past 40 years. As a national frontrunner in that area the province has seen remarkable accomplishments over the period, he said.
In 2017, Fujian's imports and exports stood at $171 billion, seventh nationwide.

The figure was only $200 million at the initial stage when the country decided to open up to world. Over the same period, the actual use of foreign direct investment in the province amounted to $124.5 billion, according to Yu.

Not only a magnet for foreign capital, Fujian also stepped up its overseas investment. As an important node on the 21st Century Maritime Silk Road, Fujian's investment in Silk Road countries last year reached $2.29 billion, a government report made at the provincial government people's congress earlier this year shows.

Meanwhile, Fujian also enjoys an increasingly close economic relationship with Taiwan. The trade value between the two sides maintained a high speed annual growth of 18.3 percent to hit 77.46 billion yuan in 2017.

Fujian is mulling further policies to promote its opening-up to the world. According to Yu, it will advance links with the countries involved in the Belt and Road Initiative and enhance two-way investment with global economies.

The measures he mentioned include easing entry requirements for foreign investment and enhancing government services, which will further optimize the business environment for both home and foreign businesses.

"We shall make government services as accessible as shopping online and create a world high-ranked business environment," pledged the Party chief.