Guangdong holds conference to attract foreign investment, promote trade cooperation in Hong Kong

(Source: the Department of Commerce of Guangdong Province)

On July 26, Guangdong held a conference in Hong Kong to promote investment and trade cooperation with Hong Kong and Hong Kong-headquartered multinational companies.

Representatives from various business associations in Hong Kong, such as Invest Hong Kong, the Hong Kong Trade Development Council, the Hong Kong General Chamber of Commerce, the Hong Kong Chinese General Chamber of Commerce, the Federation of Hong Kong Industries, and various international chambers of commerce, as well as representatives from over 50 multinational companies with headquarters in Hong Kong, local enterprises, and Chinese-funded enterprises in Hong Kong, participated in the conference.

Zhang Jinsong, Director General of the Department of Commerce of Guangdong Province, introduced the province's investment advantages and policies to the attendees. Before the event, Zhang also held discussions with ten companies that showed interest in investing in Guangdong, including Cisco, the French Biotechnology Fund, LIFFANG Holdings, Greater Bay Area Medical, and Yongxing Chemical.

During the conference, Zhang stated that in July this year, Guangdong held a meeting to promote high-level opening-up and initiated the implementation of integrated measures in five foreign-related fields: foreign trade, foreign investment, outsourcing, foreign economic cooperation, and foreign talent. This is seen as a critical approach for building a new, higher-level open financial system, providing new development opportunities, and creating new development space for global enterprises.

Furthermore, representatives from Guangzhou, Shenzhen, and Huizhou showcased local investment environments and interacted with attending business associations and enterprises.

This year, Guangdong released the revised implementation plan to further increase the attraction and utilization of foreign investment. The plan offers substantial rewards for high-tech manufacturing and other sectors, such as up to 150 million RMB for high-tech manufacturing and 80 million RMB for high-tech service enterprises, as well as a one-time reward of 5 million RMB for foreign multinational headquarters.

(cnbayarea.org.cn & GDToday)