South China's Guangzhou adds over 6,600 foreign-funded enterprises in 2023

Visitors negotiate during the 134th Canton Fair in Guangzhou, south China's Guangdong Province, Nov. 4, 2023. (Xinhua/Lu Hanxin)

GUANGZHOU, Jan. 15 (Xinhua) -- In 2023, the southern Chinese metropolis of Guangzhou registered over 6,600 new foreign-funded enterprises, up 90 percent year on year, said local authorities on Monday.

Notably, during the period, the city recorded a year-on-year increase of 11.9 percent in its actual use of foreign capital in high-tech industries.

Over the past year, a number of high-quality foreign investment projects have taken root in Guangzhou. The construction of projects, including Hyundai Motor's first overseas hydrogen fuel cell project, German chemical giant BASF's regional headquarters in south China, and Airbus's international aviation materials distribution center, are in full swing, according to the municipal commerce bureau.

In January, the city rolled out more measures to improve the investment environment for foreign funds and attract more foreign investors, which include encouraging more multinationals to set up their regional headquarters in the city and expand their investment. The city also plans to hold international investment meetings and other activities and facilitate business personnel exchanges this year.