Guizhou to boost service industry by 2025

Southwest China's Guizhou province recently released an action plan to expand effective investment in 2021-23, setting a main target of investing 165 billion yuan ($25.9 billion) in the service industry during that period.

Guizhou will take advantage of its location on the New International Land-Sea Trade Corridor to accelerate Guiyang and Zunyi's development into a national land port logistics hub.

Guizhou will upgrade, innovate and transform its first, second and third-level wholesale markets and develop professional markets, a sharing distribution center and terminal distribution stations.

Commercial facilities in urban areas will be upgraded, the construction of consumption hubs will be initiated, and the development of commercial complexes, chain stores for famous brands, convenience stores and shops in communities will be promoted.

Guizhou aims to create a modern cultural industry system through the development of a publication, radio, film and television big data industrial park, intelligent radio, film and television pilot area, screen culture industry cluster, and cultural creativity and digital publication industry base.

Guizhou will also encourage more domestic and international banks, securities institutions and insurance companies to set up branch offices or regional headquarters in the province.

In addition, it will improve financial security and credit evaluation by establishing an online finance big data platform and building more halls and venues to improve its exhibition and convention services.