Page 14 - THE SOUTH CHINA BUSINESS JOURNAL
P. 14
PTH
Wholly In December 2017, Guangdong published ten measures
Foreign-owned to boost foreign investment, allowing an increase of
FDI inflow in the province. To better open up to the
9Enterprises world and attract overseas talent, the above ten measures
were recently revised.
Granted Access
to Major According to the revised edition, wholly foreign-owned
Fields enterprises have now been granted access to 9 major
fields (including new energy vehicles), accredited foreign
Article by GDToday R&D institutions can get a yearly subsidy of up to 100
million RMB, and the time needed for foreign enterprise
to set up business will be shortened to just 5 days.
According to Chen Yuehua, deputy director general of
the Guangdong Provincial Department of Commerce,
the revised measures will provide better governmental
support and services to foreign businesses, in order to
help promote the province’s development.
The new edition is aiming at implementing more
tailored policies in the fields of market access, financial
award, land grants, R&D, and so on.
In the first seven months of this year, Guangdong
recorded a 3.1% increase in FDI to 88.9 billion RMB,
ranked first in China.
Major developed countries, such as Germany, Japan,
and the UK, have fast-tracked investment, with a year-
on-year growth of 49.1 %, 52.8 %, 93.8 % respectively with
Sweden’s investment increasing almost thirteen-fold.
The manufacturing industry received actual foreign
investment to the sum of 25.6 billion RMB, over one-
third higher than the previous period.
There are 114 new foreign investment projects with
capital of more than 100 million USD. Mega foreign
projects from Fortune 500 enterprises, including BASF
and Exxon Mobil, are expediting the pace of investment
in Guangdong.■
12 AMCHAM SOUTH CHINA
Wholly In December 2017, Guangdong published ten measures
Foreign-owned to boost foreign investment, allowing an increase of
FDI inflow in the province. To better open up to the
9Enterprises world and attract overseas talent, the above ten measures
were recently revised.
Granted Access
to Major According to the revised edition, wholly foreign-owned
Fields enterprises have now been granted access to 9 major
fields (including new energy vehicles), accredited foreign
Article by GDToday R&D institutions can get a yearly subsidy of up to 100
million RMB, and the time needed for foreign enterprise
to set up business will be shortened to just 5 days.
According to Chen Yuehua, deputy director general of
the Guangdong Provincial Department of Commerce,
the revised measures will provide better governmental
support and services to foreign businesses, in order to
help promote the province’s development.
The new edition is aiming at implementing more
tailored policies in the fields of market access, financial
award, land grants, R&D, and so on.
In the first seven months of this year, Guangdong
recorded a 3.1% increase in FDI to 88.9 billion RMB,
ranked first in China.
Major developed countries, such as Germany, Japan,
and the UK, have fast-tracked investment, with a year-
on-year growth of 49.1 %, 52.8 %, 93.8 % respectively with
Sweden’s investment increasing almost thirteen-fold.
The manufacturing industry received actual foreign
investment to the sum of 25.6 billion RMB, over one-
third higher than the previous period.
There are 114 new foreign investment projects with
capital of more than 100 million USD. Mega foreign
projects from Fortune 500 enterprises, including BASF
and Exxon Mobil, are expediting the pace of investment
in Guangdong.■
12 AMCHAM SOUTH CHINA
