Hong Kong may be a worrisome mess, but foreign investment continues to like what it sees in the rest of the Greater Bay Area. In Guangdong, 7,820 new foreign direct investment enterprises were established in the first half of the year, worth RMB83.77 billion, up 5.9% YoY.
One of the highlights came from Fortune 500 company General Electric (GE), which has set up the Asian Biotechnology Park in Guangzhou. It now plans to build a world-class offshore wind turbine assembly base in Jieyang as well as an operation and development center in Guangzhou.
The provincial government has made efforts recently to improving the business environment by introducing an “express lane” for multinational companies to receive approval on projects. As a result, Siemens has signed a comprehensive cooperation agreement with Guangdong, while another 17 major projects have settled here.