Guangzhou leads in foreign investment surge

Recently, data released by the Aosic Research Institute shows that in 2024, the number of new foreign-funded enterprises nationwide reached 47,026. Guangzhou added 6,850, accounting for 15 percent, surpassing Shanghai to take the top spot nationally.

The four major cities of Beijing, Shanghai, Guangzhou, and Shenzhen collectively host 38 percent of all foreign enterprises in urban areas nationwide, with Guangzhou alone capturing 62 percent of the share among first-tier cities.

Guangzhou has not only been named the "Preferred Destination for Foreign Investment" for eight consecutive years but has also demonstrated outstanding performance in policy incentives, business environment, and industrial ecosystem clustering effects.

Guangzhou Development District has established multiple 100 billion yuan ($13.79 billion) industrial clusters, boasting a superior business environment and attracting over 50,000 foreign-funded enterprises.

While Guangzhou still trails behind Shanghai in the number of foreign-funded enterprises, its growth rate is rapid. The influx of foreign-funded enterprises has propelled the upgrading of Guangzhou's economic structure and solidified its position among the first-tier cities.

For instance, foreign companies like Procter & Gamble have played pivotal roles in the cosmetics and automotive industries, driving the development of the entire industrial chain and creating numerous employment opportunities.

Although the number of foreign-funded enterprises in Guangzhou accounts for only 2 percent of the total number of enterprises in the city, they contribute over 30 percent of the city's total import and export value and value-added in scale industries, showcasing the city's characteristic of high quality with fewer numbers.

Guangzhou Procter & Gamble company. [Photo/WeChat account: gzhpfb]

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