Luohu Strengthens Global Ties with Oceania in Economic and Trade Efforts

As a central district of Shenzhen, Luohu has enhanced its economic and trade relations with Oceania. The Luohu delegation embarked on a business tour in Sydney emphasizing collaboration in finance, commerce, and tourism. Initiatives aim to make Luohu a major tourism and economic hub, fostering significant developmental strides across various sectors.

Luohu, a central district in Shenzhen, South China, has bolstered its economic and trade connections with Oceania, particularly Australia and New Zealand. This effort marks a significant step forward in fostering global economic partnerships.

The Luohu delegation began its business tour in Sydney, Australia, with the 'China (Shenzhen•Luohu) - Australia Economic and Trade Cooperation Forum' held on Monday. The forum highlighted Luohu's robust presence in finance, commerce, tourism, business services, and artificial intelligence, underlining the district's drive to cultivate broader collaborative opportunities.

Australian enterprises displayed a keen interest in enhancing cross-border trade, cultural tourism, and wellness initiatives during the forum. The delegation will engage with prominent institutions and enterprises in Australia before moving on to New Zealand.

Strategically positioned in central Shenzhen with seamless transport links to Hong Kong, Luohu is home to thriving sectors such as finance, commerce, and business services. The service industry accounts for 94 percent of Luohu's GDP. The district also features key land border crossings with Hong Kong, facilitating the annual passage of millions of visitors, thus establishing itself as a vital tourism hub.

Initiatives are underway to transform Luohu into a prime tourism consumption center within the Guangdong-Hong Kong-Macao Greater Bay Area. Policies have been introduced to attract international tourism organizations and consortia to establish branches in the district, promoting the development of unique local tourism products.

Luohu's economy is supported by high retail sales, upscale shopping destinations and is home to China's largest gold jewelry hub. Finance is another cornerstone, with over 100 licensed financial institutions. Emerging sectors such as healthcare and AI are experiencing rapid advancement, driven by innovative government initiatives to enhance the business environment and support enterprise innovation.

The delegation's Oceania tour aims to foster deeper cooperation in cross-border trade and modern service sectors with local institutions and enterprises in New Zealand.

(With inputs from agencies.)