At the 10th Guangzhou Annual Investment Conference China, the top 10 "Invest Guangzhou" projects were unveiled, with the LG Display (Guangzhou)'s OLED Project making the list.
Over the past year, attracted by market opportunities in China, foreign investment in China, particularly in Guangdong, has surged. In the new journey, Guangdong has continuously boosted its high-level opening-up, employing a combination of strategies in foreign trade, foreign investment, foreign outsourcing, foreign economic cooperation, and foreign intellectual inputs, widening its doors of opportunity. In 2023, Guangdong's foreign trade volume reached 8.3 trillion yuan, with accumulated actual utilization of foreign investment exceeding 578 billion US dollars. More than 350 Fortune 500 companies operate in the province. In the first two months of this year, Guangdong saw the establishment of 2,982 foreign-funded enterprises, a year-on-year increase of 38.1%.
How has Guangdong developed such a strong magnet for foreign investment, attracting a steady stream of foreign capital and fostering prosperity? The answer lies in the relentless optimization of the business environment.
Guangdong's approach to enhancing its business environment focuses on strengthening "chains".By promoting the integrity and robustness of industrial and supply chains, it provides foreign enterprises with efficient and reliable production environments, encouraging them to stay and develop further. In recent years, Guangdong has actively stabilized, supplemented, and reinforced its chains, laying a solid foundation for the development of enterprises. Presently, the province boasts eight trillion yuan-level industrial clusters. In 2023, 20 strategic industrial clusters achieved a year-on-year increase in value added of 5.2%, contributing to 40% of the GDP. Furthermore, in April this year, Guangdong released a guideline aiming to elevate Guangdong's position in the global industrial, supply, and value chains and to establish itself as a pivotal hub for global high-end elements and resource allocation.
Through a series of effective measures, Guangdong has been recognized as the province with the most favorable business environment for the fourth consecutive year. In 2023, Guangdong's foreign trade volume reached 8.3 trillion yuan, with the accumulated actual utilization of foreign investment exceeding 578 billion US dollars, accounting for one-fifth of the national total. Moreover, its utilization of foreign investment has remained stable at over 20 billion US dollars for nine consecutive years, with over 350 Fortune 500 companies operating in the province. In the first two months of this year, Guangdong saw the establishment of 2,982 foreign-funded enterprises, a year-on-year increase of 38.1%.
