(Photo Source: Nanfang Plus)

2021 Exchange Activity of Japan-funded Enterprises in Guangzhou on Investment and Business Environment was held on November 23^rd. More than 50 senior executives from over 30 Japanese companies in Guangzhou attended the event, 13 of which are invested by The Fortune Global 500.

Guangzhou-Japan, both sides benefiting from cooperation

It was revealed during the event that in the first three quarters of this year, 24 new enterprises with Japanese funding have been set up in Guangzhou, a 50% year on year increase. The total value of imports and exports between Japan and Guangzhou also reached a new height of 11.353 billion dollars, an increase of 6.95% (Guangzhou’s exports to Japan were 2.547 billion dollars, an increase of 20.18%, and imports values were 8.806 billion dollars, an increase of 3.65% ).

GAC-Honda, as a crucial part of Guangzhou’s automobile industrial cluster, achieved a steady growth with a cumulative sale of 549,000, GAC Toyota terminal sales exceeded 600,000 vehicles, a year-on-year increase of 12.0%.

(Photo Source: Nanfang Plus)

Despite the impact of the epidemic, AEON opened 2 more offline stores in Guangzhou this year, bringing the total to 15, accounting for more than half of the province. Yakult is also confident in achieving a 25% growth this year, and its sales in 2021 is estimated to be 50 times that of 2002.

RECP, a promising future with more possibility

Many attendants expressed their faith in broader terms for cooperation between Guangzhou and Japan in next year, when the RCEP (Regional Comprehensive Economic Partnership) will take effect.

Guangzhou has launched a series of special policies for cross-border e-commerce, after China signed the RCEP. Policies will be followed with relevant supporting services for optimization of development environment.

It is believed within the car industry that the tariffs on auto parts exported by Japan will decrease to a large extent, due to the RCEP, which means the advantage of Guangzhou’s auto industry will be further enhanced.

(Photo Source: Nanfang Plus)

In addition to automobiles, Japanese companies, like Meiji, the largest food company in Japan, also pay closer attention to the Chinese market of high-quality food-related products. Takao Suzuki, the General Manager of Meiji Ice Cream (Guangzhou) Co., Ltd. said "The company's sales have doubled in the past three years. We are very optimistic and thankful for Guangzhou's business environment and open atmosphere. We will further expand our investment in Guangzhou."

Author: Eastbrook

Editor: Keane, Steven, Jerry