Guangzhou approves 20 measures to boost foreign investment

The Guangzhou municipal government approved several measures to boost confidence in and promote the high-quality development of foreign investment in Guangzhou on Dec 28.

The 20 measures encompass six aspects that will further optimize the business environment in Guangzhou. They include promoting a higher level of opening up, increasing fiscal and taxation support, promoting investment facilitation, increasing financial support, strengthening talent service guarantees, and improving the level of foreign investment promotion services.

To promote the high-quality development of foreign investment, the measures noted will increase the use of foreign capital in the manufacturing industry, stabilize the industrial and supply chain of foreign-funded manufacturing, promote the integrated development of the service and manufacturing industry, as well as guide the green and low-carbon development of the foreign investment.

The city will focus on guiding foreign investment in the manufacturing industry, including a new generation of information technology, artificial intelligence, new energy vehicles, high-end equipment, biomedicine, and health, as well as new materials and fine chemicals. This will improve the industrial chain and supply chain, and promote the high-quality development of the manufacturing industry.

Guangzhou will provide financial support to eligible foreign-funded projects.

The measures will support various forms of foreign investment and encourage foreign-invested enterprises to increase investment through capital, share increases, and profit reinvestment.

From January to November 2022, the actual use of foreign capital in Guangzhou's manufacturing industry increased by 78.5 percent.

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