Investment Environment and Business Development in Guangzhou

In recent years, guided by Xi Jinping thought on socialism with Chinese characteristics for a new era and working towards the goal set by the Party Central Committee and the State Council to strengthen Guangzhou's role as an international commercial and trade center, Guangzhou has been actively promoting reform and development of the commercial sector, making every effort to stabilize foreign trade, foreign investment and promote consumption, and has achieved positive results. During the 13th Five-Year Plan period, Guangzhou's foreign trade leaped to over RMB one trillion for the ffrst time; the actual use of foreign investment accumulated USD 32.83 billion, accounting for 30.4% of the total accumulation of all years; 309 Fortune Global 500 companies have invested in a total of 1,166 projects in Guangzhou accumulatively; the total retail sales of consumer goods have exceeded RMB 800 billion and 900 billion in succession. In the first quarter of this year, the city's import and export volume reached RMB 244.44 billion, an increase of 21.3%; the actual use of foreign investment was RMB 13.207 billion, an increase of 34.0%; the total retail sales of consumer goods were RMB 262.957 billion, an increase of 31.7%.

In recent years, Guangzhou's core competitiveness and international inffuence have grown signiffcantly. Its economic strength has reached a new level, with the GDP exceeding RMB 2.5 trillion in 2020, a 2.7 % growth; GDP per capita reaching the level of that of high-income economies; fixed asset investment growing 10%, and export growing 3.2%. The concentration of key factors has signiffcantly enhanced; the city was awarded the national benchmark city for business environment, and ranked first in the national government service index. All national capital markets have set up institutions in Guangzhou, and the Guangzhou Futures Exchange has been approved to be set up in Nansha. Guangzhou ranked second among the Top 100 Global Innovation Clusters, 21st in the Global Financial Centre Index and 13th in the International Shipping Center Development Index, and was listed as an Alpha city by GaWC. The innovation in science and technology has seen all-round acceleration: the number of high and new-tech enterprises has increased six-fold in ffve years, and the number of technological SMEs in the national pool has ranked ffrst in China for three consecutive years. High-end industries are developing rapidly, with the added value of the strategic emerging industries accounting for 30% of regional GDP; the strategic engine project of artiffcial intelligence and digital 147 economy progressing steadily; and new pillar industries, such as the next generation information and communication technology, intelligent and new energy vehicles, biomedicine and health industry, new materials, intelligent equipment and robotics, ffourishing. In 2020, Guangzhou's airport passenger flow ranked first in the world, its seaports ranked fourth and fffth in cargo and container throughputs respectively, Guangzhou South Railway Station ranked first in passenger trafffc among the country's railway hubs, and the Canton Fair Complex will soon be built as the world's largest exhibition complex.
Source: Guide For Foreigners In Guangzhou(2021)