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Print Edition> Business
UPDATED: November 28, 2014 NO. 49 DECEMBER 4, 2014
Building on a Legacy
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Third, the city aims to be a hub for people-to-people exchanges. Based on its historical connection with the Maritime Silk Road and long-term trade ties with foreign countries, Fuzhou will make greater efforts to attract talents from all walks of life and encourage exchanges with the foreign countries along the road. Fuzhou is home to many Taiwanese and more than 3 million Chinese who now live across the world—in Southeast Asia, the United States and South America. As the provincial capital nearest to Taiwan, it is favorable for people-to-people exchanges with Taiwan. The Taiwanese and overseas Chinese from Fuzhou will serve as a bridge for closer exchanges with foreign cities along the 21st Century Maritime Silk Road.

How can the overseas Chinese from Fuzhou help?

Yang: They helped promote the city's economy and attract foreign investment at the beginning of the country's reform and opening up. They will be equally constructive for Fuzhou's future development. The entrepreneurs among them are potential investors. They will also help businesses in Fuzhou connect with the businesses where they live, bringing more projects and investments to Fuzhou.

We will strengthen bonds with the first-generation overseas Chinese as well as the younger generation, who are not as attached to their hometown as the former. To promote their sense of identity, Fuzhou is planning an Overseas Chinese Museum where memories of the hometown are stored and can be refreshed. More frequent contacts foster closer relations. In the future, we will launch exchange activities like inviting young overseas Chinese to summer camps in Fuzhou and sending Fuzhou teachers abroad where overseas Chinese live to teach them Chinese.

How will the FTZ help to make Fuzhou a maritime hub? How will it be established? Yang: The application will be approved by the State Council soon. The FTZ will be a vital driving force. Our model is unique: The zone will comprise four industrial parks in Pingtan County, Xiamen, Fuzhou and Quanzhou. Fuzhou will explore ways for all-round opening up and gather replicable experiences on FTZ.

The industrial park in Fuzhou will have an area of 51.36 square km. It will consist of the Fuzhou Bonded Area, Jiangyin Bonded Port Area, Jiangyin Export Manufacturing Area, Mawei Economic Development Zone, Fuzhou Straits Financial Pilot Zone and Central Business District. The city is studying the China (Shanghai) Pilot Free Trade Zone and foreign FTZ models to borrow successful experiences. It is also innovating new models suited to the reality in Fuzhou.

What are the bottlenecks? How are you tackling them?

Yang: There are bottlenecks, including funds shortage, inefficient trans-regional cooperation and a weak supporting industry. Take transportation infrastructure, for example. Remote areas are eager for infrastructure improvement as their economies won't develop without transportation. But financially capable areas may not be interested in investing as they don't see short-term lucrative prospects in the projects. In the future, trans-regional cooperation will be strengthened.

Without financial support, our goal will never be realized. During the Cross-Straits Fair for Economy and Trade held in Fuzhou from May 18 to 22, the Fuzhou Municipal Government, China Development Bank and China-Africa Development Fund jointly launched the 21st Century Maritime Silk Road Development Fund to raise 10 billion yuan ($1.62 billion) for economic cooperation along the road. The first 2 billion yuan ($324 million) has already been in place. When the Fuzhou Straits Financial Pilot Zone is established, there will be more investment-friendly policies and better infrastructure for financing businesses.

 Email us at: yushujun@bjreview.com

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