Representative from 54 US companies and the American Chamber of Commerce in China participated in a round table discussion on "the opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA)" with China's National Development and Reform Commission (NDRC) in Guangzhou's Nansha District on April 19 as a sub-event of the 9th Guangzhou Annual Investment Conference.
(Photo provided to GDToday)
Li Chunlin, Vice Chairman of the National Development and Reform Commission, said that the event aims at promoting business exchanges between China and the US. "Multinational companies are welcome to invest in the GBA and carry out cooperation in such fields as scientific and technological innovation, green energy, ecological environmental protection, marine economy, and biomedicine," added Li.
"China is certainly one of the most important markets for the majority of our companies. Recently we have had a lot of CEO visits to China," said Michael Hart, President of the American Chamber of Commerce in China (AmChamChina). He indicated the majority the member companies are not considering relocating their supply chains outside of China.
Hart recommended China continue to expand the market access for foreign companies. According to a survey carried out by AmChamChina, 60 percent of the member companies have expressed willingness to increase their investment in line with China's implementation of further opening-up plans.
Yu Feng, President of Honeywell (China) Co.,Ltd., noted that the GBA is an important base for the company's manufacturing business. "We hope to contribute to green, low-carbon, and energy-saving development in the GBA," said Yu.
According to the Guangzhou government, there are more than 1,300 US-funded enterprises in Guangzhou, with a registered foreign capital of 3.302 billion USD and an actual use of foreign capital of 1.588 billion USD by January 2023. The main investors include P&G, Amway, Jabil, Mars, 3M, and Wal-Mart, covering sci-tech innovation, advanced manufacturing, business services, and information technology industries.
Reporter丨Nina
Editor丨Wing, Steven, Jasmine, Jerry
