On the afternoon of March 13th, a news conference was held at the  Hong Kong Convention and Exhibition Centre for the 2007 Spring Guangzhou investment promotion and the release of the 2007 Guangzhou Foreign Trade White Paper.

A total of 300 people attended the conference, including Guo Li, Deputy Director of the Liaison Office of the Central People's Government in Hong Kong SAR, Chen Mingde, Vice Mayor of Guangzhou, Zhong Jianhui, Deputy Director of the Guangdong Provincial Department of Foreign Trade and Economic Co-operation, Fok Chun-wan Ian, President of the Chinese General Chamber of Commerce, executives of multinational companies and officials of the Consulate Generals in Hong Kong.

At the conference, Xiao Zhenyu, Director of the Bureau of Foreign Trade & Economic Co-operation of Guangzhou, briefed guests on the 2007 White Paper.

This is the first time that a mainland government has released a White Paper on foreign trade and economic co-operation outside mainland China. The white paper, with more than 200,000 Chinese characters, introduced the development of Guangzhou's key industries, investment direction, business environment, major industrial parks, key business plans and investment guidelines of its districts, preferential policies, and measures to encourage investment.

Hu Shudong, Assistant Director of the Development and Reform Commission of Guangzhou, said that this year investment will be focused on the automotive, petrochemical and electronic information industries. The Guangzhou government will promote investment in the following fields: related facilities for the three major Japanese auto manufacturers; automobile design and construction of R & D centers; production of specialized, high-tech automotive components; the petrochemical industry, such as refining, ethylene cracking and downstream products; and high-end electronics products.

The "central area adjustment" strategy released by the 9th CPC Guangzhou Municipal Congress has attracted the attention of investors. To develop a headquarters economy in the old urban area is one part of the strategy and the renewal of the old urban area will be a great opportunity for investors, said Hu Shu-dong. Though the renewal will mainly be  carried out by government agencies, foreign-invested real estate projects would not be rejected.

Editor: Yan