Fujian banking on new businesses to generate growth

Fujian's Quanzhou city is eyeing opportunities in the tertiary sector to generate new business growth given uncertainties in international trade.

"Uncertainties from international markets have created many opportunities for local companies to grasp new growth points. The key is to explore new markets and develop businesses in emerging industries, including domestic companies that once were reliant on overseas suppliers," Huang Tingyu, deputy head of the Quanzhou Municipal Bureau of Commerce, said.

The city is home to China's major apparel manufacturers. To date, the local government has rolled out 42 measures to support tech innovation. Six have been promoted for demonstration to other cities in Fujian and another seven will be promoted across the province soon.