Hezhou, Guangxi promotes favorable policy in Shenzhen

Hezhou holds a press conference in Shenzhen to attract enterprises in the Greater Bay Area with favorable policies. [Photo provided to chinadaily.com.cn]

A press conference on the construction and development policies of Guangxi (Hezhou) Eastward Integration Pilot Demonstration Area was held in Shenzhen, Guangdong province on May 22, promoting Hezhou to enterprises in the Guangdong-Hong Kong-Macao Greater Bay Area.

Hezhou boasts convenient transportation and an advantageous location. It is the most convenient channel for the Southwest China area to reach the Greater Bay Area, as well as an important strategic fulcrum for economic integration, industrial connection, and cultural exchanges between Guangxi and the Greater Bay Area.

In the past two years, Hezhou has promoted eastern integration in terms of planning, transportation, industry, talent, and service.

Hezhou has established an economic and trade liaison office, as well as a new industry incubation center. It has also set up a new economy and new format development fund, as well as an innovative investment attraction model, attracting nine Global Fortune 500 companies and China Top 500 enterprises, and more than 80 projects. The city has also cooperated with a group of universities in the Greater Bay Area, introducing more than 30 high-level talents with technology, projects, and funds.

In 2019, Hezhou's GDP increased by 11.8 percent year-on-year. In the first quarter of 2020, the city achieved positive growth by 1.9 percent year-on-year amid the COVID-19 epidemic.

The newly issuedPolicies on Supporting the Construction and Development of Guangxi (Hezhou) Eastward Integration Pilot Demonstration Areawas also promoted at the press conference. Formally issued on Mar 28, 2020, the document includes 17 preferential policies in the five aspects of industry development, construction of industrial platforms and interconnected infrastructure, fiscal and taxation financial support, science and technology talents support, as well as supporting prior measures and trying new reforms.

As of April 30, Guangxi and enterprises of the Greater Bay Area have signed 271 projects, with a total investment of 316.45 billion yuan ($44.39 billion), while 610 projects are under discussion, with a total investment of 478.7 billion yuan. Among them, more than 60 projects are under negotiation, signed contracts, or started construction in Hezhou, with a total investment of over 75 billion yuan.