BAO’AN anticipates GDP growth of around 8 percent for the first half of 2018, with GDP expected to reach 175 billion yuan (US$26 billion), according to a recent government meeting.

For the first six months, the district is also expected to report a growth of 7.2 percent in the output value of industrial enterprises above a designated size, which will total 82 billion yuan. Fixed assets investment will amount to 43.8 billion yuan, up 32.4 percent.

The total retail sales of consumer goods will hopefully top 38.6 billion yuan, up 8.5 percent, while total tax revenue is estimated to exceed 36 billion yuan, increasing 9.5 percent.

The local government’s efforts to improve the business and natural environment for enterprises have been credited for the performance.

While exploring space for quality enterprises, the district government took the city’s lead in drawing up a “red line” for industrial land. It vowed to create a total of 100 million square meters of space for enterprises by the end of the year, including a 100,000-square-meter global laser intelligent industry base. To ease the financial woes of medium- and small-sized companies, the government has set up an online financial supermarket, which serves as a bridge between the money-thirsty companies and investors.

The district attaches great importance to talent training, a key factor in its effort to shift away from labor-intensive industries. More than 20,000 technical talents are trained annually in the district and the government has provided preferential policies in housing, medical insurance and education to retain the talents.

To help businesses tap the market, 33 trade associations have been set up to help organize overseas trips for companies interested in promoting their products and seeking cooperation.

The government has also beefed up its fight against IPR infringement to protect local businesses, with over 6,600 IPR cases handled since 2017.

(SD News)