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Hunan hopes to attract Fortune 500 firms

(China Daily)

15:10, October 19, 2011

BEIJING, Oct 19 (Xinhuanet) -- Hunan will work closely with US companies in the fields of high-tech commodities, scientific cooperation and services in an effort to achieve more economic goals, a top provincial official said.

Zhou Qiang, Party secretary of Central China's Hunan province, is leading a delegation to Beijing to attend the China-US Governors Forum, which promotes economic and political ties between Chinese provinces and US states.

"The forum will further enhance the trade and investment relations between Hunan and a number of US states. The province is planning to attract more Fortune 500 US companies and strategic investors to establish their headquarters of branches in Hunan," he said.

Hunan is investing in seven strategic emerging industries: equipment manufacturing, new materials, bio-technology, new energy, information, energy saving and environmental protection, and the cultural creative sectors.

More US cooperation is vastly needed in the future, Zhou said.

"Hunan has a huge demand for high quality US manufacturing equipment, and I am sure more business topics will be discussed during the forum," Zhou said.

The US is the fourth largest export destination and the fifth largest origin of imports for Hunan. A total of 16 Fortune 500 companies from the US have set up their businesses or branches in the province.

As Hunan's trade and investment links with the rest of world continue to grow, the service sector will have its role in contributing to economic growth, and Hunan will make further efforts to improve service capacities in financial, insurance, communications, information, commerce, tourism, transport, culture, tourism and other industries to ensure a stable economic development environment.

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