Guangzhou Development District sees bright future in investment

With this year marking the 40th anniversary of the establishment of the Guangzhou Development District in Guangzhou, Guangdong province, the district launched an investment promotion conference on Wednesday, attracting more than 400 representatives from enterprises, local government departments and industry associations.

As well, contracts for 43 projects to land in the district were signed with a total investment of 51.6 billion yuan ($7.2 billion) and an expected annual business revenue of 95.4 billion yuan. And 28 consultants for industrial development in the region were honored with awards.

The launch event of Guangzhou Development District Global Investment Year initiative was held during the conference. Government officials announced the annual objective to secure at least 400 projects throughout 2024. In addition, the region pledged to provide all the elements required for enterprise development, including technology, talent, funding and land and proposed a series of support measures for investment, in a bid to provide a full life cycle of services to investors and enterprises.

Multiple advances in 2023

Official data indicate that in 2023, the district saw contracts for a total of 402 projects signed with a total planned investment exceeding 350 billion yuan, including 10 projects with investment surpassing 10 billion yuan each.

By attracting investment from Europe, America, Japan and South Korea, the Guangzhou Development District has seen the establishment of more than 250 new foreign-funded enterprises, up 35 percent year-on-year. Actual utilization of foreign capital surpassed $3 billion, accounting for 44 percent of the city's total, and provided solid support for the steady and far-reaching development of the economy, an official said.

Currently, the district is home to more than 5,000 foreign-funded enterprises, and the amount of actual foreign capital utilization has ranked first among national economic development districts or zones for five consecutive years. It has gathered 320 projects funded by Fortune Global 500 companies.

In recent years, the district has followed the path of technology-driven investment, which led to the establishment of national laboratories, the Greater Bay Area National Innovation Center and other entities which in turn have attracted numerous high-quality scientific and technological innovation enterprises.

Additionally, the district has seized opportunities for scientific and technological innovation, focusing on such key areas as electronic information, biotechnology and new pharmaceutical technology, aerospace technology, new materials technology, high-tech services, new energy and energy conservation technology, resource and environmental technology, advanced manufacturing and automation.

The district has also introduced several small cutting-age projects and optimized the corporate cultivation system for scientific and technological enterprises. There is a comprehensive plan to foster human resources, implement integrated high-quality projects and cultivate research bases and research and development teams to better promote technological R&D as well as the commercialization of research achievements. This will allow talents to fully display their strengths while providing them with ample development space.

The 43 new projects were involved in multiple industries including new generation information technology, biomedicine, the automotive industry, artificial intelligence and intelligent equipment as well as low altitude devices.

Among them, the Aion Hangji autonomous driving project is jointly invested by Guangzhou Automobile Group's Aion new energy vehicle arm and Beijing Hangji Technology, a unicorn company in the field of autonomous driving.

This project is mainly engaged in the production, R&D, testing and sales of autonomous vehicles, which is expected to boost the development of the automotive industry and new energy sector in the Guangzhou Development District.

Investors' recognition

Conference organizers awarded 28 industrial consultants from the Guangzhou Development District. They are from a wide range of areas, including international consulting firms, industry associations, State-owned enterprises at the provincial and municipal levels, and domestic and foreign companies.

Founded in London in 1783, JLL is a real estate services and investment management company that has been serving the Guangdong-Hong Kong-Macao Greater Bay Area market for more than 50 years. Jex Ng, general manager of JLL South China region and one of the 28 awarded consultants, noted the Guangzhou Development District has a strong industrial ecosystem, a mature business environment and attractive talent policies, which makes it a preferred choice for enterprise investment and settlement.

Luo Junfu, head of Guangzhou Industrial Investment and Capital Operation Holding Group, said that nowadays, the Guangzhou Development District is home to nearly half of the industrial funds and projects in Guangzhou. The district showcases a high-level industrial ecology and business environment. It has also become a close path for entrepreneurs to success.

As a State-owned capital platform in Guangzhou, the next step for the group will be integrated circuits, biopharmaceuticals, new energy vehicles and other advantageous industries in the Guangzhou Development District, as well as some emerging industries such as aerospace and low altitude devices.

Shen Gang, head of Yinghe (Guangzhou) Science and Technology Industrial Development, said: "When we come to Guangzhou, especially the Guangzhou Development District, what attracts us the most is the practical and efficient business environment. Every time I visit Guangzhou, I find that I can always discover new clients and new business opportunities, while also having the chances to empower various industries.

"In addition to the visible resources, Guangzhou itself has a profound cultural heritage, including its aggregation of advanced and traditional industries. In the Guangzhou Development District, we can see the picture of a modern city, the efforts to protect nature and the environment and its notable contribution to the green mountains and clear waters."

The Guangzhou Development District, established in the east part of the city, is a high-tech hub and production base in Guangdong province. It is now a driving force for the region's economic growth and scientific innovation.

The 2024 Guangzhou Development District Investment Promotion Conference kicks off on Wednesday in Guangzhou, Guangdong province. LI JIANFENG/FOR CHINA DAILY

A panoramic view of Guangzhou Development District. CHINA DAILY

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