A cooperation agreement on "FedEx's supporting industrial park" was signed between the Huadu District government and the Guangdong Airport Management Corporation on December 6th. The two sides will set up a joint venture company for the establishment of an industrial park near the Baiyun Airport for the Guangzhou FedEx Asia Pacific Hub.

The park will be built into a free trade zone in accordance with the Free Trade Zone strategy proposed by the 17th National Congress of the CPC, said Lu Guanglin, president of the Guangzhou Baiyun International Airport Co., Ltd.

The first phase of the park, occupying an area of 7 square kilometers, would mainly focus on the development of aviation accessories, rail transportation and automotive parts. Having a GDP of RMB 33 billion and 66,000 job opportunities, it was expected to be a pillar of Guangzhou's airport economy. The phase II project would mainly focus on the development of intelligent mechanical parts, aviation, aviation support industries, insurance, culture and commerce. With an area of 20 square kilometers, it would be an important part of the airport economy of China's central and southern regions. GDP is expected to be RMB 287.6 billion and provide not less than 287,000 jobs.