New Advances in Western China: International fair seeks to boost Sino-Foreign cooperation

World
Europe

02:57

"New Era in China, New Advances in Western China." That's the theme of the 17th Western China International Fair. The event opened Thursday in Chengdu, Sichuan province. China's Western region seeks to further integrate with the world economy via the Belt and Road Initiative. CGTN's Wei Lynn Tang reports.

Promoting connectivity as a whole. That's now the top priority for China's western region, according to officials, which includes the Sichuan, Guizhou and Yunnan provinces.

This message and others came through loud and clear at the 17th Western China International Fair, themed "New Era in China, New Advances in Western China". With an economic growth already outpacing that of China's national average, the region expects this momentum of new frontiers to continue.

HU CHUNHUA CHINESE VICE PREMIER "We will speed up the construction of projects in the Western region, in line with the nation's national planning. This includes the Sichuan-Tibet, Chongqing-Kunming Railways and other major corridors. We will also launch projects in the film, oil, gas and IT industries. We will ensure that the 100 key projects for Western development will be completed by the end of 2023."

WEI LYNN TANG CHENGDU "Western China contains more than two-thirds of the country's mainland area, but its contribution to China's GDP only stood at 20 percent. At the 17th WCIF, China reaffirmed that its Western region is bound to open up further, boosted by the Belt and Road Initiative. This will help spur China's next stage of opening up as a whole.

For example, Germany commends China's efforts in transitioning to a high-quality growth economy; and in realizing the needs of an open society based on transparency and cooperation.

ALEXANDER FOWLES GERMAN DEPUTY CONSUL GENERAL, CHENGDU "The the ability of foreigners and institutions to do business based on mutual trust. I think China is moving in the right direction in that aspect, market access is another important point. The opening up of Chinese industries to competition in the field of innovation."

Meanwhile, a Polish cargo terminal operator – which links Chengdu with Lodz in Central Poland – says the Belt and Road Initiative has helped improve the economies of both countries.

MICHAL GAWIN OPERATIONS DIRECTOR, SPEDCONT "I think the skeptics can see now what's happening with the project, and it becomes more successful, more products were transferred."

The international fair comes at a time when European foreign direct investment in China has been declining. But local and foreign participants alike are hopeful of China's move to further open up to the rest of the world. WLT, CGTN, Chengdu in Sichuan province.