Guangzhou to develop new business models to boost trade

Canton Tower near the Pearl River in Guangzhou, June 2013. [Asianewsphoto by Cao Zhizheng]

"We will expand the export of advanced equipment, key components and bulk commodities," Chen said.

The establishment of a free trade zone in the city's Nansha district is also expected to help boost its foreign trade.

"The zone will create a series of preferential policies for trade, which will benefit local exporters," said Jiang Weikai, president of Golden Sea Professional Equipment Ltd, a major Guangzhou-based provider of professional lighting equipments, which realized a 20 percent increase in trade last year.

The free trade zone of Nansha, part of Guangdong's Free Trade Zone, which also includes Hengqin in Zhuhai and Qianhai in Shenzhen, was approved by the central government at the end of last year.

Jiang, also a deputy to the local people's congress, said a healthy trade environment for local exporters should also be created.