"This year, our members make a profit of $ 12.56 billion that will be used for expanding investment in Guangdong," said AmCham South China President Dr. Harley Seyedin. Since investors are excited by the new measures to boost foreign investment in Guangdong.
Recently, a policy briefing of ten new measures for attracting foreign investment was held for almost 50 consulate generals in Guangzhou and 17 foreign chambers of commerce in the province.
The policies cover focal points for foreign enterprises including market access, land use, talent support, which were praised by many attendants.
Currently, there are 500 German companies in Guangdong, they are looking forward to benefiting from the new investment policies. "18% of German companies in China plan to invest in Guangdong in two years," said Mr. Martin Fleischer, the Consul General of Germany in Guangzhou.
According to Shang Huijie, vice president of Siemens China, "Guangdong is very open to hear advices from foreign enterprises and we took part in drafting out the new policies." The province offers more support on attracting foreign investment, research and innovation, intellectual property protection.
For instance, it encourages foreign investors, and R&D institutions to undertake science and technology projects. Accredited foreign R&D institutions can get a maximum subsidy of 10 million RMB.
It is said that Siemens is to provide advanced digital solutions by the MindSphere Application (base on Internet of things operating system) for Guangdong's intelligent manufacturing, intelligent transportation, green energy, etc.
Guangdong has seen a steady growth in foreign trade this year. In the first ten months of 2017, Guangdong's FDI reached $18.25 billion, up 12% on a year-on-year basis.
For import and export, in the first ten months of this year, the province’s total volume reached $5.47 trillion, up 10% on a year-on-year basis.
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