 |
Guangdong Trade Group Looks to HK for Investment
Vice-Governor of Guangdong Province Tang Bingquan is in neighbouring Hong Kong for a trade and investment fair, which opens Monday, according to Monday's China Daily.
Among Tang's delegation are mayors, vice-mayors, senior government officials and foreign trade company managers from the province's 22 prefecture-level cities.
They will be seeking direct overseas investment to support their own growth, and will seize every opportunity to secure deals on technological transfers, foreign processing and assembling, service trading and information industry co-operation during the 2000 Guangdong Economic and Trade Fair.
The annual event, which ends on Friday, is aimed at attracting offshore investment. The province is planning similar events in Europe, the Middle East and South East Asia later this year.
Almost 240 projects are being highlighted at the fair, in the hope of attracting investment. Most of these are in the fields of electronics and machinery, information, infrastructure and three-high agriculture (high-tech, high-quality and high-yield).
Others cover textiles, food, tourism, real estate, medicine, building materials, and heavy and petrochemical industries.
More than half of the projects are worth over US$10 million each.
A variety of products from Guangdong will be on display at the fair, with a view to expanding exports.
Liang Weifa, deputy director of the Guangdong Commission of Foreign Trade and Economic Co-operation, said that overseas capital resources were playing an increasingly important role in the province's economic construction.
"Guangdong hopes to open more foreign investment channels and upgrade its co-operation with Hong Kong during the fair,'' Liang said.
Investment from Hong Kong represents a big part of the overseas investment attracted by the province in recent years, Liang said.
Guangdong has, so far, registered more than 70,000 foreign-funded firms and joint ventures, and has established trade relations with more than 180 countries and regions around the world, Liang said.
Guangdong has used US$110.67 billion of foreign investment in over 200,000 contracts in the past two decades, with an annual average growth of 28 per cent.
Foreign trade volume has increased by 24 per cent a year over the past 20 years to reach US$140.35 billion in 1999.
In This Section
|
