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Foshan doubled its overseas investment

2014-October-31       Source: Newsgd.com

As a manufacturing base, Foshan this year has taken a very active move in overseas investment. “From the first three quarters of this year, Foshan companies invested 46.489 million USD in 11 projects overseas, up 102.59%, remarked by Mr. Lu Yi, Acting Mayor of Foshan Ci Guangdong Province, when met with the media delegation from Europe and countries along the maritime silk road.

As a manufacturing base, Foshan this year has taken a very active move in overseas investment. “From the first three quarters of this year, Foshan companies invested 46.489 million USD in 11 projects overseas, up 102.59%, remarked by Mr. Lu Yi, Acting Mayor of Foshan Ci Guangdong Province, when met with the media delegation from Europe and countries along the maritime silk road.

From January to September, Foshan’s foreign trade volume hit 48.803 billion USD, up 11.4% while exports increased 12.3% to 33.189 billion USD and imports grew 9.5 to 15.614 billion USD. Europe and Southeast Asia are Foshan’s top two trade partners.

“I am considering to invest and have some of my products processed in the Southeast Asia, because in this way the products could now enjoy VAT deduction. Before this preferential policy only applies to European products processed in China,” said Mr. Li Binxiang, the president of OLENO Group, a leading domestic underwear brand which grows from processing Japanese underwear products in 1980s. His company saw a 20% increase in exports this year.

“The international orders of local enterprises are all from the Canton Fair”, revealed the Chief Executive of Nanhai District Mr. Zheng Canru. Nanhai district ranks the 2nd among China’s most economically dynamic districts. The champion is Shunde district, which is also in Foshan.

“Through the rebuilding of the 21st maritime silk road and the Guangdong 21st Century Maritime Silk Road Expo, Foshan expects to expand our international cooperation”, Mr. Lu told the foreign media.

Editor: Sunny

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