Guiyang, Guian hold business exchange meeting at top expo

Guizhou province's Guiyang city and Guian New Area held an important business exchange meeting at the 18th China-ASEAN Expo on Sept 9 – in Nanning, capital of South China's Guangxi Zhuang autonomous region – where a raft of agreements was signed.

The two gave a presentation on their commercial dealings with ASEAN countries in recent years and promoted their competitive advantages to more than 80 export-oriented companies and international business associations.

At the meeting, Guiyang and Cambodia's Ca Mau city signed a letter of intent to become friendly cities and the event also saw the signing of 28 investment, commercial and tourism projects.

The investment projects involve advanced equipment manufacturing, modern logistics and cross-border e-commerce. Commercial projects were signed with members of the Regional Comprehensive Economic Partnership, or RCEP – the recently formed powerful regional trading bloc – including Japan and Thailand.

Guiyang and Guian signed four foreign investment projects with a total investment of 1.58 billion yuan ($244.94 million), four cross-border commerce projects with a contract value of 598 million yuan and two tourism projects with Myanmar and Malaysia.

One of the participants of the meeting, Zhong Te Hong Kong Trading Ltd, was reportedly impressed enough by Guiyang's economy and business environment to sign an agreement with the Guiyang Economic and Technological Development Zone. The company will build a manufacturing plant for key aero engine components, which will cost 190 million yuan and take 18 months to complete.

Elsewhere, Guizhou Zerophos Chemical Co signed contracts with Vietnamese companies to export feed supplements. According to a senior executive, the agreement will increase the company's export volumes and allow it to enjoy a more preferential import tariff from the RCEP.