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2017 Fortune Global Forum promotion visits Munich

Handelsblatt, a daily newspaper specializing in financial and economic news, published a one-page article about Guangzhou’s development in intelligent manufacturing. (Provided by Guangzhou Municipal Information Office)

Guangzhou has speeded up its pace to promote 2017 Fortune Global Forum, which will be held in December this year. On June 12 (local time) the delegation visited Munich, a key industrial and business center in Germany and even in Europe.

Cai Chaolin, Vice Mayor of Guangzhou, expressed Guangzhou’s willingness of enhancing cooperation with German companies, especially in intelligent manufacturing.

As the most important city in the south Germany with solid industrial and manufacturing foundation, Munich owns BMW, Seimens, Allianz and many other Fortune Global 500 companies in the world. Guangzhou hopes to link with Germany much closer and launch further bilateral investment and business.

Deepen cooperation in intelligent manufacturing

It is reported that recently Guangzhou has paid more attention to emerging industries such as intelligent manufacturing, electronic industry and auto-making industry. At the same time, Europe, particularly Germany, has been famous for its up-to-date technologies and advanced industries. This promotion will be a good chance for Guangzhou and Germany to deepen cooperation in those fields.

Actually some Cantonese companies and German companies have initiated their cooperation. Greatoo Intelligent, a Guangzhou company specializing in intelligent manufacturing, and OPS-Ingersoll which is a leading-edge international technology partner for tool and mould making from Germany, has launched their cooperation by establishing a new manufacturing base in Jieyang, a city in east Guangdong, since 2012. Now their co-producing products have been put into market and received very good feedbacks.

Germany is Guangzhou’s biggest business partner

Actually this was not the first time for Fortune Global Forum promotion visiting Europe. In January of this year Guangzhou conducted a promotion in Paris. This has reflected that broader and deeper cooperation have been between Guangzhou and Europe.

Statistics show that in 2016 the turnover of foreign business between Guangzhou and Europe reached 130.8 billion Yuan, up year-on-year 8.1%. 23 Guangzhou-invested companies have been set up in Europe in 2016, with the agreed investment amount standing at 0.38 billion USD.

Among countries in Europe, Germany has been Guangzhou’s biggest business partner. In the first quarter of 2017, the turnover of foreign trade between Guangzhou and Germany hit 9.45 billion Yuan (1.37 billion USD), increasing by 62.5%.

Till March of 2017, the number of German-invested companies in Guangzhou has reached 144 in total, with the FDI of 0.22 billion USD. Meanwhile, last year 6 Guangzhou-invested companies have been set up in Germany, with a total investment of 43.95 million USD.

 

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