Foshan China 2021-03-31
Guangzhou and Foshan, with a combined GDP of over 3 trillion yuan, took a major step, attracting more Foreign Direct Investment (hereinafter referred as “FDI”).
On March 30th, as the parallel session of the 7th Guangzhou Annual Investment Conference held in Guangzhou, “Discover, New Foshan” —2021 Foshan Investment Promotion Conference was staged simultaneously in Foshan, which brought together more than 200 guests from the two host cities. The conference witnessed the signing of 8 investment projects, with a total value of over 7 billion yuan, including Wanyang Science and Technology Innovation Park, Liandong U Valley·Guicheng Headquarters Economic Port, Guangdong Owente Electric Co., Ltd. and Krypton Fund Strategic Cooperation Project.
“Discover, New Foshan” —2021 Foshan Investment Promotion Conference, and the 7th China Guangzhou International Investment Conference, Foshan Session
In most recent years, Guangzhou has put intensive efforts to develop its advanced manufacturing and modern service industries, and put high on agenda emerging industries including information industry, artificial intelligence, biomedicine, new energy, new materials, and digital economy. In Foshan’s case, it is known as a leading force in advanced equipment manufacturing. Built on its solid industrial foundation, Foshan is expected to scale new heights. Last September, the two cities signed the "Strategic Cooperation Framework Agreement on Establishing a Global Joint Investment Promotion Mechanism in Guangzhou and Foshan", according to which more investment will be guaranteed for 4-trillion-yuan industrial clusters in local regions.
"Over the past six months, we have worked closely under the framework agreement to develop a new development pattern where Guangzhou and Foshan’s economic growth is underpinned by innovation. What we have achieved on this conference was definitely the result of our partnership.” said Wu Wenzhi, Deputy Secretary-General of the People’s Government of Foshan.
"We are convinced that the complementarity between the two cities is bound to create endless possibilities for the market and our industries. Thus, our industrial chain, or value chain, will be more complete and resilient, so as to foster a highly competitive internal circulation.” said Wu Linbo, deputy secretary general of the People’s Government of Foshan.
In addition to investment promotion, the two cities are also experimented with a new pilot zone regional integration - Guangfo Bay, as announced early this week in the plan for “International Consultation for the Conceptual Planning and Urban Design of Guangfo Bay”, which kickstarted the building of Guangfo Bay”. It is a groundbreaking effort to develop new integrated development models for Guangzhou and Foshan.
During the conference, Li Jie, deputy director of the Foreign Cooperation Bureau of Foshan Sanlongwan High-end Innovation Cluster (hereinafter referred as "Sanlongwan") also gave his address on the area’s investment environment. Till this day, Sanlongwan has grown into a new economic flagship in Guangzhou-Foshan area, supported by projects such as Joyy Group Industrial Headquarters, Huya Global R&D Headquarters and Foxconn’s Foshan “Smart Valley”.
As a major manufacturing town, Foshan has also worked on more progress in breeding new development carriers through urban renewal. As told by Wu Wenzhi, Foshan has planned 3 years in renovating its village-level industrial parks, which is a prerequisite for sustainable business growth.
According to Wu Huiying, deputy director of the Foshan Municipal Bureau of Commerce, Foshan will keep a firmer grasp on its close contact with Guangzhou to attract FDI on all fronts. “We will keep our partnership well under the context of RCEP and the China-Europe Investment Agreement, pace up the building of an external circulation, featured by higher business levels and greater degree of initiative. We wish to live up to everyone’s expectation to Foshan as a strong “pole” in the Guangdong-Hong Kong-Macao Greater Bay Area.”
Author | Jersey
Revisor | Eleanor