The contracted foreign capital of Guangzhou in the first half of this year totaled USD 3.705 billion, increasing by 10.31% on a year-on-year basis and its exports totaled USD 20.458 billion, increasing by 14.01% on a year-on-year basis, both of which were higher than the increase rate in Guangdong province, according to the Analysis Conference of Guangzhou's Foreign Economy and Trade Situations held on August 13th.

Vice Mayor Chende said at the conference that the existing problems were universal across China. Guangzhou shall take the initiative to take the challenge, serve well the three "cards" of policy, industry and service, and gain Guangzhou's new edges despite adversity.

According to the statistics by the Guangzhou Foreign Economic and Trade Bureau, the newly approved and established foreign-invested enterprises in Guangzhou totaled 472 in the first half this year, down by 5.03%. The large projects had obvious driving effects. There were 110 large projects with a total investment of over USD 10 million and the contracted foreign capital hit USD 3.171 billion, up by 10.52% on a year-on-year basis, which accounted for 85.58% of the total contracted foreign capital in Guangzhou. At the same time, the manufacturing industry further slowed its growth with 116 newly established projects, decreasing by 49.34%. The contracted foreign capital reached USD 1.225 billion, down by 22.25% on a year-on-year basis. The relevant principal with the Guangzhou Foreign Economic and Trade Bureau said that "the foreign capital used by Guangzhou's manufacturing industry has been on the decrease for three years, which has affected to a certain extent the export aftereffects".

In terms of exports, although there was a 14.01% increase in Guangzhou's export for the first half of this year and higher than the level in Guangdong Province, yet it fell back by 8.09% on a year-on-year basis. In addition, except Luogang and Huadu, the export increase rates of all the remaining 10 administrative districts in Guangzhou were lower than the average level. Affected by enterprises moving outside, single market structure and other factors, there was an export decline for Baiyun, Huangpu and Haizhu districts.

Editor: Yan