Huangpu's actual use of foreign investment reaches $2.24b in Q1-3

Despite the negative impact of the COVID-19 pandemic, the actual use of foreign investment in Guangzhou's Huangpu district increased by 65 percent year-on-year to $2.24 billion in the first nine months of this year.

Huangpu is one of the areas in South China most attractive to foreign-funded enterprises. A great number of transnational enterprises including Procter & Gamble (P&G), Amway, Pepsi, General Electric, Honda, Siemens and Carl Zeiss have settled and expanded their businesses in the district.

As of now, there are more than 3,600 foreign-funded enterprises in Huangpu, of which 196 are invested by the world's top 500 companies. Local actual use of foreign investment has ranked 1st in Guangzhou for more than 20 years.

After China proposed the new "Dual Circulation" development pattern, in which Chinese and foreign markets complement and reinforce each other, with the domestic market as the mainstay, many foreign-funded enterprises have put forth the strategy "In China, for China". They are ramping up cooperation with local resources in capital, supply chains, innovation and market expansion.

This year, Carl Zeiss launched an intraocular lens project in Huangpu. P&G, Merck and AstraZeneca also set up innovation centers or regional headquarters in the district.

An agreement is signed on Nov 5 for AstraZeneca to set up a Southern China headquarters in Huangpu.

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