With nine years of robust growth and development in foreign trade, business environment, and Greater Bay Area (GBA) cooperation, Guangdong Free Trade Zone (FTZ) has much to celebrate as it enters its tenth year.
Since its inception in 2015, Guangdong FTZ has emerged as a powerhouse of economic activity, boasting a 24% average annual growth rate in foreign trade imports and exports, leaping from 104.7 billion yuan in 2015 to a staggering 580 billion yuan in 2023.
In the first half of this year alone, Guangdong FTZ has already achieved a trade volume of 333.5 billion yuan, marking a significant 29% increase year-on-year.
The economic surge was supported by 1.96 billion USD in actual foreign investment, which accounted for 7.6% of the province's foreign trade volume and a quarter of its actual foreign investment. This achievement is particularly remarkable considering that the FTZ occupies only 6/10000 of the province's land area.
Guangdong FTZ's success story was not limited to trade figures; it has also created a conducive business environment that led to the establishment of over 290,000 enterprises.
The zone has been particularly attractive to global investors, with 520 investment projects from 105 Fortune Global 500 companies and 220 regional or national headquarters set up here. This has significantly boosted the region's economic vitality and international standing.
The FTZ's role as a hub for international distribution and consolidation is evident in the impressive export volume, which has seen the delivery of 286 aircraft and 141 vessels, contributing over 205.9 billion yuan to the international trade ecosystem.
Cooperation within the GBA has been a cornerstone of the FTZ's strategy, with 26,000 enterprises from Hong Kong and Macao registered in the zone. The region has attracted 50.9 billion USD of capital from these areas, representing over 90% of the actual foreign investment in Guangdong FTZ, making it the top choice for Hong Kong and Macao investments in the country.
Professional integration has been facilitated with 24 categories of Hong Kong and Macao professionals eligible to practice after registration, further enhancing the region's service capabilities. Additionally, 20 joint law firms have been established between Guangdong, Hong Kong, and Macao, and 2,251 entrepreneurial teams have been incubated in youth innovation and entrepreneurship bases, showcasing the FTZ's commitment to fostering innovation and collaboration.
Reporter | Chua
Poster | Mia, Rose Lee (intern)
Editor | Nan, Nina, James
