During the 14th Five Year Plan period (2021-2025), Guangzhou's import and export volume will exceed 1.1 trillion RMB and its actual use of foreign investment will reach over 250 billion RMB, according to the 14th Five Year Plan for Guangzhou's Business Development released recently.

(Photo provided to Newsgd.com)

The plan puts forwards specific goals highlighting the development of consumption, trade and opening-up in the city. For instance, the total retail sales of consumer goods will grow at an average annual rate of at least 5.3% by 2025.

As for high quality development of foreign trade, trade with countries and regions along the Belt and Road will take 30 percent of the city's imports and exports volume by 2025.

According to the plan, the Canton Fair Complex will become one of the largest exhibition complexes in the world. By 2025, the exhibition area of the city's major exhibition halls will reach 12 million square meters. And it will hold more than 100 international conferences every year.

To build an international consumption center city is one of the major tasks in the plan, Guangzhou will optimize the structure of consumption-supply, develop new consumption models, and improve the market circulation system.

In detail, the city plans to develop 5 world-class business districts including Tianhe Road - Zhujiang New Town (天河路—珠江新城) at Tianhe District, Chimelong - Wanbo (长隆—万博) at Panyu District, Financial City - Huangpu Bay (金融城—黄埔湾) at Tianhe and Huangpu District, Bai'etan (白鹅潭) at Liwan District, Canton Tower - Pazhou (广州塔—琶洲) at Haizhu District.

Additionally, it will support the development of duty-free shopping in Guangzhou and make efforts to open duty-free shops in the city. It will accelerate the development of duty-free shops at ports such as Baiyun International Airport and Guangzhou East Railway Station, and plans to set up duty-free shop at Nansha International Cruise Home Port.