As the COVID-19 pandemic raged across the world, the Guiyang bureau of commerce was quick to respond to calls from the Guiyang government and the CPC Guiyang City Committee, and worked to mitigate the economic setbacks which rippled out from the international community.
Seen from an overall perspective, Guiyang added 70 foreign-invested companies (two in Guian New Area were included) in 2020, an increase of 62.79 percent compared with the year before. The city's actual utilization of foreign capital reached $2.02 billion, up by 12.53 percent year-on-year, surpassing the annual target by 0.53 percentage points. Guiyang's foreign direct investment (FDI) hit $181 million (Guian contributed $20 million).
Real estate-related foreign investment topped $1.26 billion in 2020, accounting for 62.33 percent of the whole, followed by investments in service and manufacturing. More than 80 percent of the foreign capital had flown into the real property business in Guanshanhu, Wudang, Nanming, Yunyan and Huaxi districts.
Overseas investors came from 19 countries and regions across the globe. The largest proportion – 37.14 percent of the whole – were Hong Kong-based. The contractual foreign capital from Hong Kong investors was $427 million, occupying 85.68 percent of the city's total overseas investment, followed by Taiwan of China and Australia.
Foreign capital in 2020 mainly went into the tertiary industry. There were only six foreign-invested manufacturing enterprises (Guian's two foreign manufacturing firms were included) out of the 70 newly-established foreign firms of the city. And in total, there were 71 existing foreign manufacturing companies out of 438 foreign firms in the city.
Moving forward, Guiyang bureau of commerce plans to focus on attracting more foreign investors willing to boost the city's manufacturing sector, in the fields of intelligent manufacturing, medicine, medical equipment and electronic information.
The foreign investment environment will be further improved in terms of government policy, service quality and legal rights.
The role of the city's development zones in inviting more overseas businesses and forming industrial clusters will be strengthened.