Foshan expo to show Chinese innovation

The city in recent years has continuously optimized its environment for industrial development.

It has further lowered the cost of manufacturing companies to better support the real economy and also encourages companies to apply for national, provincial and municipal subsidies and other means of financial support.

Foshan has made more efforts to develop targeted investment attraction based on its industrial foundation and supporting facilities.

It has increased the number of middle-and high-end projects.

Government leaders at all levels in the city are responsible for organizing and coordinating the introduction of major industrial projects, and for timely problem-solving during the process.

Adhering to the problem-oriented principle, the city government aims to shorten the period from project construction to production.

Moreover, the city has constructed a batch of provincial and national innovation centers in fields of intelligent equipment, new energy vehicles and chips.

It also encourages large and leading companies to set up key labs, corporate technological centers and other innovation platforms, in a bid to promote the industrialization of scientific results.

From 2016 to 2018, Foshan marked an average annual growth rate of 10.5 percent in its equipment manufacturing industry.

Last year, the added value of the industry totaled 142.6 billion yuan, accounting for 31 percent of the city's total.

This year, the added value of the city's equipment manufacturing industry reached more than 75.7 billion yuan from January to July, an increase of 7.9 percent year-on-year.

Officials said Foshan will continue to follow the action plan released by the Department of Industry and Information Technology on boosting advanced equipment manufacturing in the eight cities from 2018 to 2020, and will make efforts to build an industrial base in the sector with world influence and international competitiveness.