Guangdong releases report on new silk road

The Guangdong provincial committee of the Chinese People's Political Consultative Conference wants the proposed Asian Infrastructure Investment Bank to be located in Guangzhou, the provincial capital.

The committee has completed a research report on building the 21st Century Maritime Silk Road, Nanfang Daily reported.

The report proposes that the provincial government work with financial institutions such as the China Development Bank in establishing a 21st Century Maritime Silk Road Construction Fund to support exhibitions, market exploration, key enterprises and cultural exchanges.

It also proposes that the provincial authorities identify a number of countries with healthy economic size and complementary trade relations with Guangdong as key countries, such as Indonesia, Malaysia, Thailand, India, Iran, Egypt and South Africa.

Locales including Singapore, Jakarta, Dubai and Bombay may serve as strategic points for expanding into adjacent countries and setting up trade offices and financial institutions, the report says.

Active efforts should be made to apply for the establishment of a free trade zone covering Guangdong, Hong Kong and Macao based on the three national-level new areas of Nansha, Qianhai and Hengqin to consolidate resources and promote economic transformation.