Municipal Commerce Bureau
The Eighth Guangzhou Annual Investment Conference China and the First Global Unicorn CEO Forum was held in Guangzhou on August 30.
The event attracted a wide range of businesses from 45 countries and regions, including Fortune Global 500 companies and Chinese central state-owned enterprises, as well as corporate and institutional representatives, entrepreneurs, and innovators from all social sectors. It implied that despite global market uncertainty, the majority of enterprises are still optimistic about investing in the southern Chinese metropolis and its future.
The Annual Conference includes nine foreign sessions held in places including the US (Silicon Valley), Germany (Berlin), Japan (Tokyo), and Singapore in addition to one main meeting and 20 parallel sessions to completely embody its theme, “Investing in Guangzhou Is Investing in the Future.”
We invited company owners from all over the world to talk about sustainable development and commercial prospects. According to the Guangzhou Municipal Commerce Bureau, 355 investors from 20 different nations and territories inked a number of significant deals at the event. Strategic growing industries in Guangzhou such advanced manufacturing, the car industry, next-generation information technology, contemporary commerce, and new energy will benefit from this.
As the hub of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), Guangzhou values inclusivity and openness, promotes a stable, effective economic environment, and has a variety of fully developed sectors.
Due to these advantages, it has attracted significant investment from numerous big global corporations. According to Leon Wang, Executive Vice President International and China President of AstraZeneca, a biopharmaceutical company, the city attracts companies committed to pharmaceutical R&D and innovation because of its research and development (R&D), strong biomedicine foundation, and abundance of universities and medical institutions in addition to its business-friendly environment.
According to Frank Qu, head of Unilever China, China has developed into one of the three most significant global markets for the company’s business growth. In the Conghua Mingzhu Industrial Park in Guangzhou, the consumer goods giant recently opened its first manufacturing facility for the entirety of its product line. This is the biggest investment Unilever has ever made in China in recent years, and it is also the company’s first carbon-neutral manufacturing facility. The company hopes to develop this facility into a top-tier “lighthouse” factory that leads the manufacturing industry’s transition.
In his speech, Wang Cuijun, General Manager of China Resources Group, praised Guangzhou’s healthy business environment and its steadfast dedication to reform and opening-up, saying that these factors are what draw investors and creators from around the world, particularly unicorn companies that master innovative technology, forge new paths, and develop novel business models. Therefore, he continued, more unicorns will only promote economic expansion.
The release of the Global Unicorn Index 2022 Half-Year Report by Hurun Report Chairman and Chief Researcher Rupert Hoogewerf was another event highlight. 62 of the 312 unicorns on the list that China is home to are from the GBA, and Guangzhou, which is developing more quickly than any other Chinese city, surpasses Boston to claim the 11th slot with 19 unicorns.
Strong industrial clusters Guangzhou has to offer also provide the foundation necessary for unicorns to foster entrepreneurship and innovation. According to Wang Zai, co-founder and executive president of AI chipmaker Cambricon Technologies Corporation Limited, the city provides each industry with a variety of well-suited application scenarios thanks to its sizable business clusters. If artificial intelligence (AI) is to spread across industries, the city would be the first choice.
The inaugural Guangzhou Annual Investment Conference took place eight years ago. Beyond serving as a showcase for Guangdong and even China’s achievements in reform and opening-up, the trademark event has improved understanding of the GBA and Guangzhou in particular among international investors. As of August 2022, 335 Fortune Global 500 companies had started 1,658 projects in the city. As Guangzhou continues to strengthen its business climate, more growth and investment opportunities will be made available to the international business community. – Thanks to Xinhua.