Guangdong (Pilot) Free Trade Zone (FTZ) becomes a hot land for transnational corporations and it has attracted 34 Global 500 enterprises to run business by now. Recently, the Transnational Corporations CEO Conference was held in Guangzhou, on which Guangdong FTZ signed cooperation agreements with Dubai Freezone, Indonesia's Bakrie Group, Iran's Qeshm FTZ, Nobel Sustainability Fund and heard advices from CEOs.
The conference aimed to better serve transnational corporations who wish to settle in Guangdong FTZ. CEOs from 28 corporations including Walmart, HSBC, GE Power and so on attended the conference and shared their suggestions for boosting FTZ's development.
According to He Zhongyou, Vice Governor of Guangdong Province, since the construction of Guangdong FTZ should keep track with high international standards for investment and trade, build a market-oriented as well as law-based business environment, it’s necessary to hear advices from transnational corporations’ seniors.
Most corporations feel confident about Guangdong FTZ’s future development and believe the cooperation could bring a win-win relationship.
Kazuhiro Kobayshi, the Managing Officer of Toyota Motor Corporation and manager of GAC Toyota said, they produced more than 400,000 automobiles at their factory in Nansha Area of Guangdong FTZ, thanks for local government's support of infrastructure, law and security, etc. They want to create an innovative manufacturing base for industrial upgrading with the help of local government in future.
Halen Wong, the Group General Manager of HSBC, suggested to lower requirements for HK financial institutions, improve related taxation policy, qualification certification and accommodation of HK talents for promoting the Guangdong – Hong Kong financial cooperation.
Other representatives came up with their advices for Guangdong FTZ to attract overseas corporations and the investment, such as to enhance intellectual property protection for cultural industries, simplify the approval processes for foreign-invested enterprises and so on.
On the conference, Guangdong FTZ signed cooperation agreements with Dubai Freezone, Indonesia's Bakrie Group, Iran's Qeshm FTZ, Nobel Sustainability Fund to further international cooperation in shipping logistics, tourism, clean energy, etc.
Ben Cotton, a partner of Nobel Sustainability Fun said, Guangdong FTZ is their ideal choice as a local partner because they found the government is very progressive here. "It is a region where can encourage innovation and collaboration with foreign partners to build successful business," he said.
According to Ben, they will bring more foreign companies to China and help Chinese universities as well as research centers to turn their ideas for practicable use. In return, the sustainability trust will be awarded and the amount will be announced soon.
(by Olivia & Will)