GUANGZHOU, June 15, 2017 /PRNewswire/ -- The southern Chinese city of Guangzhou is further fortifying its position as a key trade and investment hub for major western economies. Last year, the volume of registered goods trading between Guangzhou and Europe reached $19.08 billion. The United Kingdom alone accounted for $2.39 billion of this trade volume, which increased 7.7% year-on-year, including exports of $1.95 billion, up 10.1%, and nearly $440 million in imports. By the first quarter of 2017, the Guangzhou-UK goods trading volume had soared 40.3% to $701.61 million, including exports of $592.21 million, up 57.6%, and imports of $109.40 million.
By March of 2017, the cumulative direct investment from the UK in Guangzhou had reached 229 companies, with $1.10 billion in contracted foreign capital and $940 million in actual capital. This includes the addition of five new direct investment projects in 2016, bringing in $11.3 million in contractual foreign investment and $120 million in actual utilised capital.
Interest and opportunities for British corporations and joint ventures (JV) in Guangzhou spans a diverse range of industries. For example, South China Bluesky Aviation Oil Co., Ltd., a JV between the China Aviation Oil Supply Company Limited, BP and Fortune Oil Holdings, has invested $210 million in the region, while the BP Guangzhou Development Oil Products Company Limited, another BP joint venture with Guangzhou Development Industry Holding (GDIH), recently invested $128.21 million in the region. In the biomedicine sector, Guangzhou Pharmaceutical Holdings Limited (GPHL), jointly incorporated by GPC and Walgreens Boots Alliance, invested a massive $341.8 million in operations in Guangzhou.
Building on the momentum and strength of this flourishing international partnership, the Vice Mayor of Guangzhou, Cai Chaolin, is making a special visit to London this week to present a keynote at a private forum on innovative approaches and open perspectives between the UK and Guangzhou. The event, which is hosted by Fortune magazine and sponsored by HSBC, will welcome a number of special guests to join the collaborative discussion, including Chinese Ambassador Liu Xiaoming, Chief Content Office of Time Inc. and Fortune President, Alan Murray, and WPP CEO Sir Martin Sorrel. A delegation from the Guangzhou municipal government along with a host of attendees will also be attending.
"It is an honour to have the chance to join key partners in London to discuss the future for Guangzhou and the UK," said Vice Mayor Chaolin. "With Guangzhou's business-friendly environment, strategic geographical advantages, proven history as a leading trade and commercial hub, and tremendous growth across industries, I believe – as do many of the Fortune Global 500 enterprises that have set up stations here – that our city is primed to help bolster growth for British companies that are strategically preparing for a bright future ahead. We look forward working together toward mutually beneficial opportunities, both during this forum and in the years ahead."
The London event this week is a precursor to the upcoming 2017 Fortune Global Forum to be held in Guangzhou in December. Following the progressive discussion set to take place in London, the Fortune Global Forum will convene world leaders and heads of global businesses in Guangzhou to discuss the dynamic world of international commerce. The forum will also serve as an opportunity for CEOs of the Fortune Global 500 to meet and engage with key leaders from the public and private sectors in China.
Leading corporations from around the world have discovered Guangzhou's geographical advantages as well as its ample policy and service benefits. Guangzhou is a comprehensive transportation hub with a long history as primary point on the Maritime Silk Road. The city is home to a vast port, an immense railway system, a rapidly expanding international airport and a strong highway system, and is uniquely positioned to supporting global openness and interconnectivity between China, Europe, and beyond.
Coupled with the city's focus on localisation, flexibility, talent recruitment and stable, large-scale development, these premium municipal features have drawn significant attention and investment from foreign enterprises. Guangzhou is also continually enhancing its investment environment, working to enrich its pro-business landscape to fuel growth and opportunity, raise the level of investment and trade facilitation, and streamline administrative examinations and approval permissions. Guangzhou continues to reduce the burden on companies, lowering operating costs, reducing fees, setting up government funds and implementing policies to reduce insurance rates.
In recent years, the city's talent introduction scheme has further enabled the region to attract even more international talent. The city's high level of liveability is another appealing factor for international talent and enterprises from England and other countries, featuring a temperate climate, warm winters, and lush greenery blanketed in vibrant flowers, a developed sports environment and a thriving food and beverage scene that make Guangzhou an ideal place for diverse talent and their families to settle.
SOURCE Guangzhou News Center