Nansha's new status pays off in development

State-level zone sees surge in investment, businesses

The State-level Nansha New Zone in Guangzhou has garnered unprecedented attention from investors recently after it gained new status as a major part of the Guangdong Pilot Free Trade Zone, officials said.

Located in the geographic center of the booming Pearl River Delta region in South China's Guangdong province, the Nansha New Zone, which is evolving from the State-level Nansha Economic and Technological Development Zone founded in 1993, became part of the Guangdong Pilot Free Trade Zone in April.

Seven pieces of land covering an area of 60 square kilometers were set aside for the free trade zone to focus on the development of shipping and logistics, finance, international trade, advanced manufacturing and professional services.

A total of 6,414 enterprises were established in the zone in the first 11 months of this year, surging 281 percent from the same period in 2014; and their registered capital surpassed 83 billion yuan ($12.82 billion), growing 335 percent, according to Li Zigen, deputy director-general of the administrative committee of the Nansha Economic and Technological Development Zone and Nansha Free Trade Zone, at a forum on the latest development of the Nansha Free Trade Zone in Guangzhou on Tuesday.

Citing statistics, the official said foreign-funded enterprises approved in the zone posted a surge of 290 percent to 215 in the 11 months with their contractual investments reaching $2.66 billion, or a growth of 60.4 percent.

In addition, he said there are 143 more projects under negotiation with their investments standing at around 321.58 billion yuan and another 371 projects under construction with their capital input reaching 155.7 billion yuan.

"The status both as a State-level new zone and a State-level free trade zone means a synergistic strategic advantage for Nansha and brings Nansha to the forefront of the nation's opening-up, just like Pudong in Shanghai," said Ding Hongdu, chief of the administrative committee of the Nansha zone, at the same occasion on Tuesday.

"That has helped Nansha gain its bullish development momentum this year."

According to Ding, Nansha has completed a three-year plan for developing the seven pieces of land for the free trade zone and its implementation is underway.

Ding said the zone has made much headway in integrating international practices for investment and trade as well as in streamlining its administrative functions in the past few months.

The zone has also made outstanding achievements in attracting high-end industries in the period, the official added.

The zone has agreed on a three-year plan for growing into an international shipping center, has completed the third phase of the Nansha Harbor and is experimenting with innovative businesses such as delay in transfer, importing finished vehicles and parallel importing of vehicles.

In addition, the zone has become home to 537 banking and similar institutions, 89 financing and leasing firms and 550 cross-border e-commerce firms, offering innovative services.

Meanwhile, Ding said, 38 key infrastructure projects involving total investment of 156.1 billion yuan in the pipeline are related to harbors, rail transit, the expressway network and urban roads.

As its next step, Ding said, Nansha will actively get involved in the nation's Belt and Road Initiative, and take advantage of its role as a State-level new zone, free trade zone, economic and technological development zone and a model zone for independent innovation to grow into a key platform for the opening-up of Guangdong.

Ding said local authorities will prioritize their efforts in further improving the business environment in line with international investment and trade practices, improving scientific and technological innovations, and shaping a modern industrial system highlighting modern service and advanced manufacturing industries.

zhanlisheng@chinadaily.com.cn

With an estimated cargo throughput of 256 million metric tons, Nansha is on track to become an international shipping center. Photos provided to China Daily

Ding Hongdu, Party chief of Nansha district and head of the administrative committee of the Nansha New Zone, talks about Nansha's development plan at a forum this week.

An emerging industrial hub in Guangzhou, Nansha still has a well-protected ecology.