Guangzhou’s Nansha district held a ceremony on March 9th for its 59 key projects in Q1, during which 29 projects worth more than 45.9 billion yuan were unveiled while 30 projects with more than 115.8-billion-yuan investment were signed in the district. These projects cover a wide range of business sectors including modern agriculture, technological innovation, urban regeneration and healthcare.

Cai Chaolin, Party Chief of Nansha, said now is the crucial time for people to get back to work as the number of new COVID-19 cases has been declining. “Our aim is to showcase a number of iconic projects in the district, highlighting our achievements at the fifth anniversary of the launch of Nansha Free Trade Zone. These projects also show the effort we have put into the development of Guangdong-Hong Kong-Macao Greater Bay Area.”

According to the Nansha government, more than 94 percent of the projects will be dedicated to the Greater Bay Area development. More than 40 percent of the projects, with investment totalling 82.8 billion yuan, are joint projects between Guangdong, Hong Kong and Macao companies. The investors on these projects include renowned Hong Kong brands such as HSBC, LUKFOOK and Vitasoy.

A landscape model of HSBC's global training center in Nansha [Photo provided to Newsgd.com]

HSBC invested more than 150 million USD to build its first global training center in Nansha as the district has lowered the threshold for foreign capital in the financial sector. The Center broke ground on March 9th and is expected to be operational in 2024. It will host about 14 thousand HSBC staff members yearly, from both the Asia-pacific region and elsewhere around the world.

Wong Tung Shun, Chief Executive of HSBC, said Nansha is located at the core of the Greater Bay Area so that it can easily take advantage of HSBC's resources in Guangdong, Hong Kong and Macao and support the company’s talent training project.

LUKFOOK Jewelry will set up its e-commerce headquarters in Nansha. The project will include the construction of an R&D center, an inspection center and a production line for products sold via e-commerce. Vitasoy will build its Chinese mainland headquarters and distribution center in the district.

32 percent of all projects in the Nansha region are expected to benefit technological development in the district, of which the precision medicine industrial park project is the one with the largest amount of investment (50 billion yuan).

In consideration of the current situation with the coronavirus worldwide, the Nansha government live-streamed the ceremony with 5G technology in an effort to avoid large crowds. The 30 projects were signed online between partners. It also invited representatives to send speeches and congratulations via video.

 

Author: Jasmine

Editors: Keane & Simon