The central government has approved a plan to launch a new State-level development zone in Nansha district of Guangzhou, South China's Guangdong Province, the country's top planner announced Tuesday, in a move aimed at revitalizing the local economy.
The plan is the latest in a series of measures China is taking to boost its GDP amid a domestic and global economic slowdown, analysts said.
The State Council, the country's cabinet, has approved a plan to turn the Nansha New Area into the sixth State-level new zone, the National Development and Reform Commission announced on its website Tuesday.
The zone will be developed into a comprehensive service hub and pilot area focusing on manufacturing service industry and aimed at promoting the economic restructuring of the Pearl River Delta region, it said.
The announcement does not provide details of the plan for the new zone.
A spokeswoman at the Administrative Committee of the Nansha New Area surnamed Yang declined to reveal details of the plan and said a press conference will be held soon to publicize the plan.
Existing enterprises located in the area mainly specialize in advanced manufacturing, financial services, trade and high-tech industries. The focus of the zone's development will be adjusted in the future after it becomes a State-level new zone, Tang Bin, a staff member at Nansha Investment Service Promotion Center, told the Global Times.
Nansha district is located in the southern part of Guangzhou and in the center of the Pearl River Delta, with rich shoreline resources and a deepwater port. It is 38 nautical miles away from Hong Kong, and 41 nautical miles from Macao.
News we recommend:
Banks to make presence in the cultural market
How we all gain in the power of two
British industry revs up to meet China demand
Latest iPhone to hit China's gray market
Huawei & ZTE
deny facilitating espionage
Apple fans find little to excite in new
Foreign telecom companies eye China
China's Apple fans on the wane?
Volvo plans expansion amid