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Guangdong Upgrades Foreign Trade
2011-May-26 Source: Newsgd.com
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On April 26, Guangdong held a meeting on foreign direct investment and foreign trade upgrading, as Governor Huang Huahua urged the province to adjust its foreign trade structure to increase international competitiveness and ensure Guangdong’s foreign trade growth and increase its international market share.

Doing Business with the World’s Leading Companies

Guangdong officials agreed earlier this year that large projects are the pillar of regional economic growth. As Guangdong looks to attract high-end and hi-tech projects, the province will establish a communication platform with multinational companies, consulate generals and chambers of commerce in to expand its overseas promotion this year.

Guangdong officials are also looking to improve the province’s land policy and coordination mechanism for large foreign funded projects. The province will host a promotion fair for the world’s leading multinationals in the second half of this year.

Supporting the Industrial Cluster

In 2011, Shenzhen Qianhai, Zhuhai Hengqin, Guangzhou, Nansha, Shenzhen and Hetao will develop industrial parks as the province continues to upgrade its five state-level economy and technology development zones in Guangzhou, Nansha, Zhanjiang, Huizhou Daya Bay and Zengcheng respectively. Officials will also support the improvement of other industrial clusters with special functions, such as tax free logistics zones.

Foreign Trade Business’ Relocations

This year, Guangdong will continue its industry transfer parks building and to channel more foreign trade oriented enterprises to move away from the Pearl River Delta to other areas in Guangdong.

CEPA policies will be further integrated in Shenzhen and Hong Kong as well as in Zhuhai and Macao in medical services, education and tourism. The provincial government will also work with Hong Kong and Macao SAR governments to process industry transfer and transformation as well as domestic market cultivation.

Guangdong will also enhance its economic cooperation with Taiwan. One of its main measures is to support eastern Guangdong to be more involved in the West Taiwan Strait Economic Zone development.

Link: Foreign Trade up 31.3%, Contracted FDI up 52.5% in Q1

According to China Customs Guangdong Branch, Guangdong’s import and export volume climbed 31.3 percent year on year to 201.22 billion USD in the first quarter, beating the national average growth of 29.5 percent. According to Ministry of Commerce officials, Guangdong approved 1,319 new foreign direct investment projects in the first three months this year, up 24.32 percent in numbers of new projects and up 52.2 percent in contract value.

Editor: Olivia
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