On March 14 local time, Washington Promotion of 2017 Fortune Global Forum Guangzhou was held in Washington DC. GE and other Fortune 500 corporations have participated in the meeting. GE’s senior executive clicked “Like” for “Guangzhou speed” and pointed out that building factory in Guangzhou is faster than in the USA.

 

Nina Easton, chair of the Fortune Most Powerful Women International Summit, said at the same event that Guangzhou, China's southern gateway to the world and a center of international trade for many centuries, is both a renowned symbol and a modern manifestation of China's participation in global commerce. “Fortune Global Forum is held in China. I believe it is the ideal location for the 2017 Fortune Global Forum to be held in Guangzhou. I hope to meet you all there."

 

Levine, who used to work at the U.S. Department of Commerce, said South China in general, Guangzhou in particular, has important implications for today's China-U.S. trade relations. The city has played a central role as a leader in openness and innovation since China implemented the opening up policy. “According to a recent business survey conducted by the American Chamber of Commerce in South China, 70 percent of U.S companies which invested in South China are satisfied with the ROI, about 80 percent regarded the business climate in the region as ‘good’ or ‘very good’.” Levine said 60 percent of them chose to make their headquarters in Guangzhou. These data reflected Guangzhou’s advantages.

 

Karan Bhatia, vice president of GE, gave “Guangzhou speed” thumbs up, “In other countries building a factory may take a long time. But in Guangzhou we have completed our project with only 18 month. In the USA, it may take five to eight years. This rapid speed should be attributed to our good cooperation relationship with the local government.”

 

“IFLYTEK CO.,LTD only spent one day to complete registration in Guangzhou. Since our establishment, the investment promotion, the administration for industry and commerce and other departments of Haizhu District has provided door-to-door services on the policy consulting and addressing problems occurred in the enterprise development.” Du Lan, enterprise representative of Guangzhou and senior vice president of IFLYTEK, said that for enterprises efficiency is life. Guangzhou’s governmental services are simple and high efficient and Guangzhou is a city with outstanding business environment. For example on the business registration system reform, Guangzhou has implemented the “joint handling of multiple certificates”, and shortened the approval time by 30 working days. Consequently enterprises can highly lower the manpower and material costs.

 

■Related news

 

Fortune 500 Corporation GE lays out in Guangzhou to produce new generation monoclonal antibody

 

Jeffrey R. Immelt, Chairman and Chief Executive Officer of General Electric (GE), recently headed the global board of directors to visit China and restated the importance of China as GE’s largest market out of the USA. Mr. Immelt emphasized his strong confidence in China’s economic prospect and GE’s grown in China and said GE would fully honor its long-term commitment to the Chinese market and work with partners to facilitate China’s industrial upgrade and economic transformation.

 

In the medical field, GE declared its Healthcare Life Sciences will deliver KU-BioTM modular biomedicine factory to BeiGene in Guangzhou to produce the new generation monoclonal antibody and other biomedicine. This project will be the third KU-BioTM modular biomedicine factory GE Healthcare Life Sciences has delivered across the world.

 

Guangzhou boasts great biomedicine development potential and strong market influence. In the 13^th Five-Year Plan, the biomedicine industry has become one of the pillar strategic industries of Guangzhou. GE has attached great importance to the cooperation with Guangzhou. Both parties will actively explore innovation in technology, type of business and commercial mode and jointly concentrate and promote biomedicine enterprises to bloom in Guangzhou.

 

Guangzhou’s first batch of overseas offices established, Guangzhou enterprises to establish R&D centers in the Silicon Valley

 

On March 14 US local time, Cai Chaolin, vice mayor of Guangzhou, declared establishment of Guangzhou’s liaison offices in Boston and the Silicon Valley. These are the first batch of overseas offices of Guangzhou. These two offices will be the liaison establishment of Guangzhou in western and eastern USA. They will center on the deployment of framing a high-level opening up new structure, give full play to the “accredited envoy” and bridge role in the international scientific and technological innovation cooperation, fulfill the three functions of “service, liaison and communication”, initiatively establish ties with the national and regional technological departments, institutions and enterprises, promote exchanges and cooperation with Guangzhou on scientific and technological innovation achievements, projects and talents, and serve Guangzhou’s construction of the international scientific and technological innovation hub.

 

That Guangzhou established offices in Boston and the Silicon Valley is of great importance for enhancing matching of Guangzhou with the global high-end platforms and renowned institutions, scientific and technological innovation projects and institutions in particular. The related director or GAC Group said Guangzhou enterprises can make good use of the advantages of Boston and the Silicon Valley. This move can help enterprise introduce international talents, improve their capability integrating the global resources in the fields of R&D, marketing and other fields to improve growth rate and efficiency for the economic development. “We are looking forward to this effect. GAC Group will set up a R&D center in the Silicon Valley. I believe this move of Guangzhou will be of help for out related works there.”

 

Source: Translated from Invest Guangzhou, March 16, 2017