Japan invests $260 million in Guangzhou in H1

An event aimed at attracting Japanese investment to Guangzhou was held in the Guangdong province capital on Aug 22, southcn.com reports.

The session was held by Guangzhou municipal commission of commerce, Japan External Trade Organization Guangzhou Branch, Japanese Chamber of Commerce in Guangzhou and Consulate-General of Japan in Guangzhou.

According to statistics released at the session, a total of $260 million in Japanese investment has been plowed into Guangzhou in first half year, an increase of 120 percent compared with the same period in 2016.

Saito Norio, consul-general of Consulate-General of Japan in Guangzhou delivered a speech at the event, noting that both Japanese enterprises and Guangzhou have benefited from their cooperation. He added that Japanese companies have become more willing to invest in Guangzhou thanks to its role in the China (Guangdong) Pilot Free Trade Zone and Guangdong –Hong Kong –Macao Greater Bay Area.

Yang Yong, deputy director of Guangzhou municipal commission of commerce said that the city's business environment and preferential policies have helped to deepen cooperation between Guangzhou and Japan-funded enterprises.

Since the beginning of this year, the trade between Guangzhou and Japan has seen steady growth. During the first half of the year, total import and export value between the two parties reached 46.5 billion yuan ($7 billion), up 20.8 percent on the same period last year.