Inaugural conference promotes investment benefits of South China

The first global investment promotion conference for the Guangdong-Hong Kong-Macao Greater Bay Area kicked off on Wednesday, with global investors expressing optimism over the prospect of doing business in the southern region.

The two-day event, which is jointly organized by the Guangdong provincial government, Hong Kong Special Administrative Region government and Macao Special Administrative Region government, aims to attract global businesses to invest in the 11-city cluster and promote high-quality development.

Held in a hybrid format, the conference attracted more than 300 transnational companies. A total of 853 cooperative projects were sealed, with investment amounting to 2.5 trillion yuan ($359 billion). Among them, 48 mega projects were signed on site in Guangzhou's Nansha district, including three from the district with a total value amounting to more than 5 billion yuan.

The event also features 20 overseas promotion activities in 18 countries, including the United States, Germany, Britain, France, Japan and South Korea.

Hong Kong Chief Executive John Lee Ka-chiu said the conference is not only a showcase of close cooperation among the governments of Guangdong, Hong Kong and Macao, but also an important platform for global enterprises to enjoy the opportunities brought by the Greater Bay Area.

"As an international financial center, Hong Kong has a sound business environment, a free and open economic system and a developed IT infrastructure and transportation network. It is an important gateway for international enterprises to enter the Greater Bay Area," he said.

"We encourage global businesses to take full advantage of Hong Kong's role as a 'bridge' and fully grasp the unlimited opportunities of expanding business in the Greater Bay Area."

Macao Chief Executive Ho Iatseng said Macao has been working closely with Guangdong to promote the construction of Guangdong-Macao In-Depth Cooperation Zone in Hengqin, Zhuhai, and explore markets of Portuguese-speaking countries.

Wang Weizhong, governor of Guangdong province, said Guangdong is an ideal place for investment, and also for innovation and entrepreneurship. The province will strive to boost market confidence, stimulate entrepreneurial vibrancy and promote high-level opening up to share benefits with global investors, business people and entrepreneurs, he said.

According to a report released by the Hurun Research Institute on Wednesday at the conference, of the top 100 foreign businesses that contribute the most to the Chinese economy, more than 90 percent are carrying out cooperation in the GBA, either through investment or by setting up subsidiaries there.

"The Greater Bay Area has the unique charm of connecting China with the world and attracting investment from outstanding entrepreneurs both inside and outside the country," said Harley Seyedin, president of the American Chamber of Commerce in South China.

"We hope to share the development opportunities with the world in the GBA and realize mutually beneficial cooperation. It is hoped that the GBA will deepen cooperation in various fields, promote the exchange of technical personnel and funds, and jointly promote the prosperity and development of the world economy with countries all over the world."

Lee Chee Kong, president of Carlsberg China, said the company has continued to increase investment in the GBA in recent years. Denmark-based beverage giant Carlsberg Group is the world's third-largest beer enterprise.

Nearly 3 billion yuan was poured into building a beer manufacturing base in Foshan following the signing of an investment agreement in November 2021, with an annual production capacity of 500,000 kiloliters. The project is expected to complete construction by 2024.

"We will take good advantage of the preferential policies in the GBA to satisfy the growing demand for quality beer among consumers while achieving high-quality development of the company," he said.