On April 26, Guangzhou held a round table discussion highlighting economic and trade cooperation with French companies. The event attracted executives from more than 30 French enterprises, including Danone, Decathlon, and Air France.
(Photo provided to GDToday)
The event was organized by the Guangzhou Municipal Commerce Bureau and the French Chamber of Commerce and Industry in China. Hong Qian, head of the Guangzhou Municipal Commerce Bureau, said that the event aimed to enhance the mutual understanding between the government departments and French-funded enterprises, as well as to boost enterprises’ confidence in their investment and development in Guangzhou. Guangzhou will keep supporting the development of French enterprises in the city.
Fabien PACORY, vice president of the French Chamber of Commerce and Industry in China, believed that the event was of particular significance, as it can promote Guangzhou's opportunities and policies to the city's French companies and attract more French companies to settle in the city.
(Photo provided to GDToday)
During the event, most participants paid attention to the latest development and policies in tax incentives, the new energy industry, and exhibition and consumption promotion. They said the event helped them better know the local policies, and further mutual trust through face-to-face exchanges.
Guangzhou and France have a solid foundation for economic and trade cooperation. In 2022, the total value of imports and exports between the two places reached 2.73 billion USD. From January to February 2023, the foreign trade volume increased by 17.8 percent year-on-year.
As of the end of March this year, France had invested in 206 enterprises in Guangzhou, with a foreign capital of 624 million USD. In the first quarter of this year, investment from France accounted for 9.6 percent of the actual use of foreign capital in Guangzhou. French companies such as Schneider Electric, Danone, Pernod Ricard, Decathlon, and Dextra Building Products have been in Guangzhou for many years and play an important role in the city's development.
Author: Will, Julian (intern)
Editor: Wing, Steven, James
