An investment promotion event for the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) held on Nov. 8 in Guangzhou, south China's Guangdong Province, witnessed the signing of 859 investment and trade deals totaling about 2.24 trillion yuan (around 312 billion U.S. dollars).
Combined with investments secured during the inaugural event last year, the region has now garnered a total investment of nearly 5 trillion yuan across these two conferences.
This record-breaking number reflects the strong confidence of global companies in the Greater Bay Area, solidifying its position as a promising global growth engine.
"The area's distinctive geographical advantages, favorable business environment, and government openness instill confidence in our future development," said Frances Yu, President of Amway China.
The company has invested 600 million yuan in the 10th upgrading of its production base in Guangzhou.
Statistical data shows that over the past five years, Guangdong has secured more than 250 large projects with actual capital exceeding 100 million U.S. dollars, and actual foreign investment there surpassed 80 billion U.S. dollars.
The province has so far established over 310,000 foreign-funded projects, and achieved actual foreign investment utilization reaching 570 billion U.S. dollars, while 350 of the Fortune Global 500 companies have invested in the province.
Guangdong's appeal to foreign investors has not only grown quantitatively but also made significant strides in terms of quality, signaling a pivotal shift in the region's investment landscape.
From January to August this year, the actual use of foreign investment in Guangdong's manufacturing industry reached 36.82 billion yuan, a year-on-year increase of 19 percent, and the proportion exceeded 30 percent for the first time since 2019.
"American cleantech companies are eager to find business opportunities in the Greater Bay Area, so they can settle down and make their entry into the Chinese market," said An Feng, president of the U.S.-China Clean Tech Center, who participated in a sideline event ahead of the promotion conference.
