GDIPA annual forum helps boost Guangdong's opening-up efforts

The recent 7th Guangdong Investment Development Forum and the 2023 annual Guangdong Investment Promotion Association (GDIPA) conference are expected to contribute to Guangdong's integrated strategy to fortify its foreign-oriented economy system and keep opening-up efforts on track.

Held in Guangzhou on June 8, the event provided an opportunity for senior executives from Fortune Global 500 companies, listed companies, industrial leaders, financing service providers, as well as local investment promotion agencies to interact and explore business development opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area and other cities across Guangdong province.

The event was jointly hosted by the China Council for International Investment Promotion, the GDIPA, Procter & Gamble (China), as well as foreign investment enterprise associations from Guangzhou, Foshan, and the Guangzhou Development District.

Liu Yuelun, former chairman of the Guangzhou Municipal Committee of the Chinese People's Political Consultative Conference, delivers a speech during the event. [Photo provided to eguangzhou.gov.cn]

During his speech, Liu Yuelun, former chairman of the Guangzhou Municipal Committee of the Chinese People's Political Consultative Conference, suggested that governments at different levels should gear up to build a more efficient and law-ruled service system based on international practices. He went on to state that governments should keep improving their local business environments so that enterprise protection will be maximized and investor confidence will surge.

"We should always remember to offer services to enterprises and bring the initiative of business people into full play so that win-win cooperation between a region and enterprises can be ensured," he added.

During the event, Xu Min, president, and CEO of P&G Greater China, shared her company's success story in China over the last 35 years.

"By focusing on high-quality production innovation, high-level capital input, and high-standard green development, P&G has made new headway in its development," she said. "We will continue to integrate the company's development with Guangdong's modern development to realize high-quality development."

Zheng Yongnian, a renowned scholar and director of the Guangzhou Institute of the GBA, delivered a keynote speech on the vitalization of the real economy as well as new opportunities.

The awards ceremony during the event. [Photo provided to eguangzhou.gov.cn]

As part of the event, the organizers awarded agencies, industrial parks, and individuals in the GBA for their prominent progress in innovative practices.

As a preferred destination for foreign investors, Guangdong secured 181.9 billion yuan ($29.1 billion) in paid-in capital in 2022, a significant increase when compared to 138.4 billion yuan five years ago. The latest figures show that Guangdong had annual growth of 5.6 percent, which accounts for one-seventh of the nation's total, official statistics indicate.