Guizhou province attracts huge investments from Shenzhen

In the wake of a second team from Southwest China's Guizhou province in the first quarter carrying out an investment promotion drive in Shenzhen – the dynamic city in South China's Guangdong province – Guizhou has achieved great success in investment attraction, local officials said.

At a recent project signing ceremony held, Guizhou signed 32 framework agreements involving 6.96 billion yuan ($980.36 million) to be invested with companies in the Pearl River delta area and 74 investment agreements with a contract investment of 17.63 billion yuan.

The agreements involve 16 primary industry projects, 44 secondary industry projects and 14 tertiary industry projects -- 35 of which have an investment of over 100 million yuan.

Guizhou sent the first batch of 167 officials last November to attract investment in Shenzhen. During the two months, the officials visited 2,152 companies and 378 business associations.

Of these, 518 companies signed initial intents of cooperation, 172 companies were invited to inspect Guizhou, 24 formal investment contracted were signed, totaling 5.39 million yuan of investment.

Guizhou aims to utilize Shenzhen's advantages in high-tech, finance and exports to attract investments directly related to poverty alleviation.

Officials said this will help impoverished areas shake off poverty and make Guizhou a key area to receive industries transferred from Guangdong, the southeast coastal province of China where Shenzhen is located.