On February 27, Guangzhou municipal government held Hong Kong Promotion of 2017 Fortune Global Forum Guangzhou in Hong Kong. This is the second leg of 2017 Fortune Global Forum Guangzhou.

 

Cai Chaolin, vice mayor of Guangzhou, disclosed when making the keynote recommendation that 288 of Fortune 500 corporations have made investment in Guangzhou, and 120 of them established their headquarters or regional headquarters in Guangzhou. That means at least one of every two Fortune 500 corporations have invested in Guangzhou.

 

Data show the newly registered domestic-funded market players in 2016 reached 242,100, up 17.6% and the registered capital reached more than RMB770 billion, up 42.5%. Since last year,  many Fortune 500 corporations, including CISCO Smart City, headquarters of COSCO Shipping Bulk Co. Ltd., GE Biological Industrial Park, Foxconn 10.5 Generation Display Full Ecological Industrial Park, and large-scale multinationals have settled in Guangzhou.

 

At the promotion, Zeng Qinghong, chairman of GAC Group, George Leung, advisor of HSBC Asia-Pacific, Zhou Li, assistant director of Cheung Kong Graduate School of Business, and other distinguished guests had a dialogue themed on Free Trade Zone and Opening up and Innovation.

 

In the dialogue, Mr. Leung said by 2030 China may surpass the United States to become the largest consumer market of the world, and international and domestic enterprises, including those in Guangzhou, should grasp the opportunity to explore the local market in China. “China will become the world’s largest consumer market by 2030, with a volume larger than the United States.” He said enterprises should grasp this opportunity to expand the Chinese market. Zeng Qinghong said the Belt and Road initiative and the Free Trade Zone strategy have brought along good development opportunities for enterprises. Enterprises in Guangzhou and Hong Kong should cooperate to go global and explore the international market together in an mutual complementary way.

 

Source: Translated from Invest Guangzhou, February 28, 2017