Guangdong Government Launches Trade Website

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Feb. 19 – The local government has launched a website to provide information and services for Guangdong-based companies dealing in international trade.

The companies will be able to use the site for various document and license applications as well as provide updates on the latest government trade policies and news on the global markets. It will also serve as a platform for submitting suggestions and seeking advice from foreign trade officials.

“The website is one of several measures we have taken to help local firms cope with the global financial crisis, which has a huge impact on Guangdong because of its close involvement in foreign trade,” Vice-Governor Wan Qingliang told Xinhua during the launch.

As  China’s strongest export player, Guangdong has been hard hit by slowing demand due to the global credit crisis. Imports and exports amounted RMB36.6 billion in January, down 31 percent compared to the same period last year. Thousands of workers were laid off as factories were forced to shut-down because of dwindling orders.

Last year, the province’s GDP reached  RMB3.57 trillion, a decrease of 4.6 percent.

Foreign trade is expected to drop further in the first quarter of the year as companies import less goods because of slowing export demand. Guangdong contributes  one-third to the country’s total and foreign trade only  grew by 7.8 percent to US$683.3 billion last year compared to 2007’s increase of 20.3 percent, said a draft government report released last week.

According to China Daily, the province will begin focusing on developing new markets in Africa, Southeast Asia, the Middle East and South America.