Kunming to beef up modern service industry

Updated: March 22, 2022


[Photo/Kunming official WeChat]

Kunming, capital of Southwest China’s Yunnan province, will be shaped into a regional international modern service center, according to the 14th Five Year Plan draft for the service sector issued by the provincial government.

Efforts will focus on tapping the capital city’s historical and tourism resources, as well as boosting its health industry and international logistics connections with South and Southeast Asia countries.

Kunming will embrace more high-end productive and high value-added service sectors such as modern finance, technological innovation, information technology, exhibition services, e-commerce and cultural creativity.

At present, Kunming is seeing smooth progress in implementing key projects related to new materials, healthcare sectors and innovation.

A cooperation agreement between Beijing Kangleguard Biotechnology Company and the Russian Pharmaceutical Group was officially signed in Kunming. The agreement is centered on the research and development of the nine-valent HPV vaccine and the Kunming production base.

As an example of collaboration between the Kunming government, the School of Mathematics of the Chinese Academy of Sciences, and the Chinese Mathematical Society, an international mathematics platform has gradually taken shape in Yiliang county.

It aims at solving cutting-edge and cross-cutting problems in mathematical science, promoting cooperation and exchanges between top research teams at home and abroad, and attracting outstanding scholars from all over the world to visit Kunming.

Cooperation is also a focus in boosting the city’s technological power. Kunming has made 300 international and domestic advanced scientific and technological achievements in its key industries and has transferred 50 technologies to other countries. It has also established cooperative relations with more than 100 universities and research institutions around the world, and has 454 academician and expert workstations.

The Kunming High-tech Zone, one of the city’s notable industry areas, has not only attracted more projects and enterprises, but also attached greater importance to creating a healthier and sustainable investment ecosystem.

In 2021, the zone introduced 15.53 billion yuan($2.44 billion) in in-place funds from outside the city; the actual utilization of foreign capital is $44.66 million.

By 2025, the added value of Yunnan's service industry is expected to account for 50 percent of its GDP, and the service industry will contribute half of its economic growth, becoming an important support for promoting the province's industrial upgrading and high-quality development.