Guangzhou IAB investments reach $15 billion

According to the statistics released by Guangzhou municipal commission of commerce, the newly introduced registered capital in Guangzhou from January to July this year increased to 920 billion yuan ($138 billion), a year-on-year increase of 140 percent, with IAB investments reaching 1,000 billion yuan.

Since 2017, Guangzhou has been doubling its efforts to attract businesses, investments and talents. All districts in the city formulate and implement preferential policies and establish stable, fair and transparent business environments.

From January to July, more than 111,000 enterprises were registered in Guangzhou, an increase of 58.6 percent year-on-year. The number of enterprises with registered capital that exceeded 100 million yuan reached nearly 800, up by 82.4 percent. As of now, a total of 289 Fortune Global 500 corporations have settled in Guangzhou.

During the first half year of 2017, 24 IAB projects (projects aimed at developing emerging industries such as the new generation of information technology, artificial intelligence and biological medicine) including Foxconn's 61-billion-yuan 10.5-generation panel plant project and Beigene immuno-oncology drugs production base settled in Guangzhou, with total investments surpassing 100 billion yuan. 42 modern financial projects settled in Guangzhou, with investment reaching 70 billion yuan.

Moreover, Guangzhou has held 12 promotion seminars in cities including New York, London, Paris, Tokyo and Shanghai to promote the Fortune Global Forum 2017 which is set to be held in the city in December, meanwhile it will aim to woo more enterprises. 

The total value of Guangzhou's import and export in the first half year reached 504 billion yuan, an increase of 31.4 percent over the same period last year. New types of businesses play significant roles in foreign trade with cross-border e-commerce value surpassing 10.9 billion yuan in the first half year.

In the second half year of 2017, Guangzhou will strengthen its effort to attract businesses and take full advantage of Fortune Global 2017 to lure more leading enterprises and key projects. The city will also deepen its cooperation with countries involved in the Belt and Road Initiative and expand the international logistics network of China-EU trains.