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110 Fortune 500 Companies operate in Development District

2014-August-11       Source: GZ.gov.cn

Guangzhou Development District currently hosts 111 of the Fortune Global 500 companies, more than any other development district in China.

Guangzhou Development District currently hosts 111 of the Fortune Global 500 companies, more than any other development district in China, according to a report entitled "Orientation of the Fortune Global 500 Companies and Development Strategy of Guangzhou Development District", which was recently released by the Guangzhou Academy of Social Sciences. The 111 companies have invested more than US$ 6 billion in Guangzhou. The Fortune Global 500 companies' investment strategy for China is changing. The report recommends that Guangzhou Development Zone intensify its efforts to woo more Fortune Global 500 companies.

According to the report, as of the end of 2013, Guangzhou Development District had 111 of the Fortune Global 500 companies, 29 more than Tianjin Development Zone, 23 more than Suzhou Industrial Park, and 42 more than Dalian Development Zone.

The 111 companies have launched investment projects valued at more than US$ 6 billion in Guangzhou. Of these projects, 77 are industrial, involving chemicals, food and beverage, electronic information, automobile and parts and components, new materials, metal manufacturing and other industries; and 40 are in the service sector, involving wholesale and retail, logistics, warehousing, information and software services, technology R&D, and other industries.

How can Guangzhou Development District maintain its appeal to the Fortune Global 500 companies? The report recommends greater efforts to encourage Fortune Global 500 companies to invest in emerging industries. At present, low-carbon industries, smart industries, and service outsourcing are gathering momentum across the world, and many transnational corporations are aggressively pursuing opportunities in high-end emerging industries. For example, the IT industry in the U.S., centered on cloud computing, is undergoing a new wave of revolution. Guangzhou Development Zone is expected to focus on such opportunities and make stronger efforts to host R&D projects of the Fortune Global 500 companies.

 

Editor: Kristi

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