Conference courts massive investment in modern facilities

Guangzhou, capital of South China's Guangdong province, sponsored the first Guangzhou Annual Investment Conference on March 26 to court investment for further modernization.

The city proposed 21 large projects with a price tag totaling more than 110 billion yuan ($17.7 billion). Most are related to infrastructure, environmental protection and public facilities.

Various districts in the city proposed 140 projects to potential investors with total investment of 239.5 billion yuan that range from advanced manufacturing to information technology, commerce, financial services and healthcare.

Addressing the opening of the conference, Guangzhou Mayor Chen Jianhua said "the city will open more projects to domestic and international investors and will seek to cooperate with industrial leaders including the world's top 500 companies".

He promised that Guangzhou will be friendly to investors, assisting them and bringing benefits as always.

Guangzhou had 25,516 foreign-funded enterprises by the end of 2014 and 236 of the world's top 500 companies. The 236 companies have launched 656 projects with investment totaling $45.85 billion, according to official statistics.

New investments are expected to accelerate the city's development and enhance its position as one of China's five central cities along with Beijing, Shanghai, Tianjin and Chongqing.

"Guangzhou is striving to become an international trade and shipping hub, a globally renowned cultural city, a transportation hub in South China and an international metropolis," Chen said. "The new prospect will mean immense business opportunities."

He said Guangzhou now has new opportunities in the New Silk Road, 21st-Century Maritime Silk Road initiatives and the city's Nansha Free Trade Zone that will become operational soon.

As a hub of the Maritime Silk Road, Guangzhou is well-positioned for a leading role in the nation's opening-up strategy, the mayor said.

He said Guangzhou will seek to boost trade and investment with the countries and regions along the route.

Chen also said the city has ambitions to become a hub for international shipping, logistics and trade.

The mayor said that by drawing in global resources using international practices, the future of Guangzhou will reside in the Nansha Free Trade Zone.

Finance, research and development, shipping and logistics, the marine economy and advanced equipment manufacturing will be prioritized in the zone.

Chen said the city will highlight development of modern services and advanced manufacturing industries for an optimized industrial structure.

He added that special attention will be given to the financial service sector, which is set to become a pillar of Guangzhou's modern service industry.

In addition to the Nansha free trade zone, Chen said the city will also strengthen the development of Sino-Singaporean Guangzhou Knowledge City, and the Zengcheng Economic and Technological Development Zone, making them preferred destinations for investors.

He added that the city is applying to the central government to become a national model zone for independent innovation that will include both the Guangzhou High-Tech Development Zone and Sino-Singaporean Guangzhou Knowledge City.

Guangzhou is making progress in adjusting its economic structure, promoting innovation, deepening overall reform, opening further to the world and promoting the rule of law, Ren Xuefeng, the city's Party chief, said during a conference earlier this year.

zhanlisheng@chinadaily.com.cn

At the forefront of China's opening-up, the modern international metropolis in South China is among the most preferred destinations for investment. Provided to China Daily

Business representatives from home and abroad meet at the Guangzhou conference to hear about a range of new opportunities. Zou Zhongpin / China Daily

(China Daily 03/28/2015 page6)