Guangdong ranks 1st in utilisation of Foreign Investment (2019 Jan. to Nov.)

2019-12-19 15:38:44 Newsgd。com Newsgd.com

The Guangdong Association of Enterprises with Foreign Investment released their 2019 Top 100 enterprises with foreign investment in Guangdong on December 16th, 80% of which are enterprises from strategic emerging industries and modern service industries.

[File photo\ Nanfang Daily]

Guangdong is advancing the high quality utilisation of foreign investment. From January to November, 13,147 foreign direct investment enterprises (projects) were newly established, with the actual utilisation of foreign investment amounting to 142.4 billion RMB, an increase of 3.3% year-on-year, ranking first in China.

Over the past 11 months of 2019, Guangdong’s Top 3 overseas investment sources increased actual investment, Macao and South Korea up by 27% and 19% respectively, and investments from Ireland, Spain, Austria, Singapore also rising significantly。 Actual foreign investment from countries and regions along the Belt and Road reached 7。17 billion yuan, 。an increase of 110%。

According to the Guangdong Provincial Department of Commerce, Guangdong is building a new model for comprehensive opening-up, creating a world-class business environment, and promoting high-quality economic development with high-level utilisation of foreign investment.

A number of key foreign enterprises, such as GAC Honda, Guangzhou P&G and LG Display, were shortlisted for the Top 100 enterprises. Over 80% Top 100 enterprises come from the following fields: new generation information technology, advanced equipment manufacturing, bio-medicine, new energy, new materials and modern service industries. By the end of 2018, the total revenue of Top 100 foreign-funded enterprises had hit 1.6 trillion RMB.

"Charoen Pokphand Group will celebrate its centenary in two years. In our plan for the new centenary, we will set out to locate our global headquarters and R&D center in Guangdong," said Wenhai Li, vice president of Charoen Pokphand Group, one of the Top 100 foreign-funded enterprises.

He said that the construction of Guangdong-Hong Kong-Macao Greater Bay area and transforming Shenzhen into a special demonstration area have brought new opportunities. “As the first foreign-funded enterprise to have invested in China, Charoen Pokphand Group will realize ‘full chain three-dimensional investment’ in Guangdong”, Li added.

Guangdong is speeding up the launch of major foreign-funded projects. A batch of landmark projects have been introduced, such as Toray high-end new materials, a Siemens transformer smart chemical factory, ExxonMobil’s chemical complex and the BASF integrated chemical production base.

Author: Hannah Zhou

Editor: Simon Haywood

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