Investor passion for provincial powerhouse

Guangdong province secured $21.77 billion in foreign capital for 233 projects during a campaign held in Guangzhou, the provincial capital, in late September. Senior executives from 140 of the world's top 500 enterprises and 145 other big foreign companies attended the seminar. Most of the representatives showed strong passion for investment and business cooperation in the province, local media reported. "Once again it reflects the fact that Guangdong clearly has more competitive advantages with foreign investors in the wake of its efforts to accelerate economic transformation," said Liang Yaowen, director general of Guangdong Foreign Trade and Economic Cooperation Department. "The province is willing to forge closer ties in capital, management, technology, equipment, idea and talent with renowned enterprises all over the world for mutual benefit," Liang said. He cited Guangdong's high level of economic internationalization, booming manufacturing industry, availability of development zones of varied kinds, as well as friendly environment for investment and business operations, as the main competitive advantages. He said the province's 143 ports have shipping links to more than 1,100 harbors in about 130 countries and regions with their container throughput accounting for over one-third of the nation's total. The province has trade relations with more than 230 countries and regions globally and has seen investment from over 100 countries and regions. Guangdong is also an important manufacturing center in China and even globally with a comprehensive and mature industrial system. Development of its advanced industries is expected to accelerate due to the province's generous financial support over the 12th Five-Year Plan (2011-2015). Guangdong has a long tradition for trade and also hosts a number of influential international exhibitions and trade fairs throughout the year. As well, protection of intellectual property and a market economy with international practices are deeply rooted among its administrators and businesses. Liang said the province's population of over 104 million and its per capita GDP of $7,000 ensure continuing strong consumer demand. Its 34 State-level development zones, nine State-level high-tech zones, 15 industrial bases listed in the nation's "Torch Plan" for high-tech industries and 35 province-level industrial parks ensure enough land for investors.