China's Gansu Province Looks Set To Be Transformed By Lanzhou New Area FTZ

By Amiril Muttaqien Meketar LANZHOU (CHINA) July 10 (Bernama) -- Gansu Province looks set to become an important gateway to the rest of China and the world, thanks to the Lanzhou New Area Free Trade Zone, a once mountainous area now transformed. Located some 40 km from Lanzhou, the capital of Gansu Province, the Free Trade Zone is seen as a diamond node of the Silk Road Economic Belt, one of the Belt and Road Initiative (BRI) components. The other is the 21st century Maritime Silk Road. The BRI is an initiative mooted by Chinese President Xi Jinping as a development strategy that focuses on connectivity and cooperation among various countries, apart from boosting trade between countries by providing infrastructure such as ports, railways and highways. Section Chief of Culture-Oriented Office of Investment Promotion Bureau of Lanzhou New Area Free Trade Zone, Zhou Qiong said numerous projects are ongoing moment within it at present, such as equipment manufacturing, petrochemicals, and biological pharmaceuticals, in a bid to revitalise, drive and integrate industry with the city. “Lanzhou New Area is the fifth national new area and the first in Northwest China, with a total area of 1,744 square kilometres and population of up to 300,000. “The area is strategically located in the middle of six main cities, namely Urumqi, Xining, Lhasa, Chengdu Xián and Yinchuan, linking east to west China and connecting south to north China,” she told Bernama on the sidelines of the 23rd China Lanzhou Investment and Trade Fair, on Friday. Zhou said the area, which was opened in 2012, is capitalising on the BRI in the form of integrating a transportation hub through the construction of the Zhongchuan International Airport and Zhongchuan North Railway Station, to facilitate the movement of trade and goods. “About 150 international freight trains from Lanzhou to middle Asia, South Asia and Europe are operating at the train station and could help achieve multiple growth in the import and export trade. “Apart from that, the Lanzhou New Area Free Trade Zone was also built to promote integrated development and connectivity of modern logistics that link the railway, port and airport,” she added. She said currently, there are 34 Korean companies focused mainly on cosmetics and clothing and eight equipment and manufacturing companies from Germany having invested heavily in the area. In the meantime, Zhou welcomed Malaysian companies to reap the benefits of the BRI by investing in the area, as it could propel economic development between both parties. Themed, “Jointly Advancing BRI To Promote Mutual-Winning Cooperation”, the four-day China Lanzhou Investment and Trade Fair, focuses on openness, pioneering, cooperation and development. It began on Thursday and ends on July 9. -- BERNAMA