,

Guangzhou promotes Fortune Global Forum in Tokyo

Guangzhou, China’s most integral business center and gateway to the outside world, is enabling a new level of collaboration and innovation between Chinese and Japanese enterprises by following through on a series of progressive business and economic initiatives set forth by the humming southern capital of Guangdong Province. In 2016, import-exports between Guangzhou and Japan grew to USD$ 12.77 billion representing a 12.5 percent total increase from the year prior. Of that, imports from Japan to Guangzhou totaled USD$ 9.31 billion, an 11.8 percent rise, while exports from Guangzhou to Japan increased 14.4 percent, to USD$ 3.46 billion.

 

By the end of 2016, Japanese companies had invested in and established 626 enterprises in Guangzhou with the actual use of foreign capital totaling USD$ 5.24 billion. At the same time, Guangzhou companies continued to invest in Japan, establishing 16 enterprises with a total investment volume of USD$6.65 million.

 

“There’s a powerful synergy that’s growing between our two great nations, with Guangzhou at the heart of it all,” said Guangzhou Vice Mayor Cai Chaolin. “Many leading Japanese enterprises have already recognized the benefits and ample opportunities that exist for them through Guangzhou’s business-friendly environment, and it has been our great honor to work closely with them to advance our two economies. We look forward to an even brighter, more interconnected and collaborative future with our Japanese counterparts.”

 

The Vice Mayor is in Tokyo this week keynoting a private forum on innovative cooperation between Chinese and Japanese enterprises. This event comes as an early precursor as the Chinese city readies to host the highly anticipated 2017 Global Fortune Forum in December. The Global Fortune Forum will convene world leaders and the heads of global business in Guangzhou to discuss the dynamic world of international commerce, creating an opportunity for CEOs of the  Fortune Global 500 to meet and engage with Chinese leaders from the public and private sectors.

 

In Japan this week, the Vice Mayor is joined by additional representatives from the Guangzhou government, the Consulate General of China in Japan, the Chairman of the Guangzhou Automobile Group, Mr. Zeng Qinghong, as well as representatives from the Fortune Global Forum, JETRO, Nomura Holdings and various Japanese Fortune 500 companies. Their locally-hosted forum will welcome 100 executives from major Japanese corporations to learn about and discuss collaboration and innovation between the two regions, and jointly address the best path forward for businesses.

 

Many of the world’s top 500 enterprises have set up stations in Guangzhou, with a broad investment portfolio ranging from electronics to automobiles, fine chemicals, food and beverage, electronic information, metal manufacturing, intelligent equipment and beyond. Already, Japanese auto giants like Honda, Toyota and Nissan have established automobile manufacturing plants in the city to capitalize on its progressive investment offerings and rapidly growing business landscape. In addition, Guangzhou has welcomed the likes of Honda TechnologyResearch, JFE, Denso and other related businesses; Mitsui Sumitomo Bank, Mizuho Bank and other modern service enterprises; as well as Sony, Olympus, Panasonic, Hitachi and other advanced manufacturing enterprises.

 

The Guangzhou Automobile Group is a prime example of the kind of innovative collaboration taking place between the two nations. The Chinese group has successfully endeavored joint venture businesses with Japanese enterprises to form Guangzhou Automobile Honda, Guangzhou Toyota and Guangzhou Automobile Mitsubishi; through these joint ventures the group can hasten the localization process, develop more Chinese products and services and constantly enrich its product line, resulting in a mutually beneficial, win-win cooperation.

 

Foreign-funded enterprises in Guangzhou enjoy high level of localization in terms of management and technical personnel, and many foreign enterprises have established research and development centers in industrial parks of the city, which help them to understand and effectively cater to regional markets.

 

The city is also constantly raising the level of investment and trade facilitation, and developing reforms for entrepreneurs to foster a convenient investment, operational and development atmosphere. This includes the streamlining of administrative examinations and approval permissions. Guangzhou also continues to reduce the burden on enterprises, lowering operating costs and helping enterprises by reducing administrative fees, setting up government funds and implementing policies to reduce insurance rates. In recent years, the city’s talent introduction scheme has also enabled the region to attract more international talent with innovative spirit and drive.

 

As a comprehensive transportation hub, Guangzhou also allows for more global openness and interconnectivity via its vast port, rapidly expanding international airport, far-reaching railways and strong highway system.

 

“Beyond the incredible business environment blossoming in Guangzhou, our city serves as a welcoming cultural interchange, allowing people and enterprises to come together harmoniously,” Vice Mayor Cai added. “Our long summers and warm winters make our home even more welcoming, plus our fantastic food and beverage offerings make this one of the most ideal places to live and work, and that is only becoming more true as we usher in more talent and inspiration from our Japanese friends.”

 

Source: Guangzhou Municipal Government