Wudang moves to attract more investment, expand development

A panoramic view of Wudang district in Guiyang [Photo/Guiyang news network]

Wudang district in Guiyang, the capital city of Southwest China's Guizhou province, is moving to market itself more and increase its investment appeal, with the focus on the traditional Chinese medicine and medical equipment industries.

It is also ramping up its industrialization, urbanization, agricultural modernization and the development of its tourism sector, according to local media reports.

From January to May this year, Wudang announced 42 new industrial projects would start up in the district, with 5.16 billion yuan ($807 million) of funds already in place. It also announced 13 new companies would move operations there this year.

Also this year, the district's leaders traveled to Nantong, Shenzhen, Foshan, Chengdu and Shanghai to attract more investment, successfully attracting three major projects which will involve a total investment of 10.35 billion yuan.

The investment promotions bureau of the district was also active, negotiating 28 projects -- with evaluations and reviews, site selections and talks taking place.

In so doing, Wudang is making efforts on a broad front to attract investment, increase its innovation and attract leading international companies -- especially those in modern services, as well as in the emerging and advanced equipment manufacturing industries.

In March, Wudang and the Zhongnan Group signed an agreement to jointly build a traditional Chinese medicine and medical equipment industrial park, costing 50 billion yuan. The park will have residents operating in health care, cultural tourism, commerce and exhibitions, intelligent manufacturing and other fields.

To attract more projects and companies, it's understood that the district will continue to streamline its business procedures and implement tax and fee reduction policies -- in order to optimize its business environment and offer better services to resident enterprises.