Li Zhanshu, Party chief of Guizhou province (center), Zhao Kezhi, governor of Guizhou (right), and Long Chaoyun, a senior Guizhou Party official, addressing reporters as the Guizhou-Hong Kong Investment and Trade Week began in the city Tuesday. Edmond Tang / China Daily

Guizhou, one of China's southwestern provinces with abundant energy, minerals and tourism resources, kicked off its biggest trade campaign yet outside the mainland in a bid to attract more foreign investment.

During the Guizhou-Hong Kong Investment and Trade Week, which started Tuesday, the province is set to sign as many as 49 investment project deals in the city, with the investment amount reaching $12.41 billion and covering a variety of areas including agricultural industry, manufacturing and services.

These projects will be put into operation before the end of 2012. Meanwhile, 12 trade contracts totaling $5.27 billion will also be inked during the week-long campaign in Hong Kong.

Provincial Governor Zhao Kezhi said Guizhou was not focusing so much on real estate, energy and infrastructure projects in Hong Kong this week, but on more high-tech focused ones.

"We will conduct all-round and in-depth cooperation with Hong Kong, as well as Macao, Taiwan and southeast Asian countries in various fields, with priorities in processing and manufacturing, modern tertiary industry, modern agriculture and modern logistics," he told reporters.

"The Guizhou-Hong Kong Investment and Trade Week will usher in a new chapter for Guizhou's cooperation with these regions, which will also drive us to foster a good investment environment, upgrade infrastructure and optimize service to attract capital to settle in our province," said Zhao.

Hong Kong has traditionally been a major investment source for Guizhou. Between 2005 and 2010, the city set up 163 new projects in the province, accounting for 58.22 percent of all the new foreign investment projects. Contracted amount reached $1.64 billion, or 79.02 percent of total foreign investment.

As of the end of 2010, Hong Kong investors had set up 637 enterprises in the province, with total investments of $1.90 billion. The actual utilization of capital is expected to reach $525.88 million.

Hong Kong is also one of Guizhou's most important trading partners. As early as in 1978, Guizhou had started exporting goods to the city. According to customs figures, in 2010, Guizhou's exports to Hong Kong stood at $163 million, up 45.8 percent from a year earlier and accounting for 5.2 percent of the province's total exports.

Guizhou is rich in energy resources. Its hydropower capacity and coal reserves rank sixth and fifth respectively across China, with 27 types of minerals ranked among the top five in the country.

The province also boasts unique tourist attractions - mountainous landscape, ethnic cultures and special position in Chinese revolutionary history. Its cool summers and mild winters also make it an attractive venue for conventions and exhibitions.

The province is arranging a series of activities during the week, including a Guizhou Product Exhibition showcasing its brands.

It will also hold a photography exhibition in Hong Kong, featuring 120 works of well-known photographers from the mainland, Taiwan, Macao and Hong Kong, and presenting the natural landscape, local customs and historical culture of Guizhou.

China Daily

(HK Edition 05/04/2011 page3)