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Guangdong the "Foreign Investment Ten" Communication Conference (for Taiwan Businessmen) held in Dongguan
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Guangdong the "Foreign Investment Ten" Communiation Conference (for Taiwan Businessman) held in Dongguan

According to the statistics of Bureau of Commerce of Dongguan City, as of October 2017, there are 3,541 companies invested by Taiwan businessmen with a total contractual foreign capital of up to USD 21.1 billion, accounting for 23% of the citys total. The actual foreign investment was USD 19.73 billion, accounting for 25.9% of the citys total.

Promote the sustained and steady development of Taiwan businessmen in Guangdong

At the beginning of this month, Guangdong Peoples  Government issued A Number of Policy Measures For the Further Expansion of Opening-up and Effective Utilization of Foreign Investment in Guangdong Province (“Guangdong "the Foreign Investment Ten"”) to help Taiwan businessmen understand Guangdong's latest foreign investment policy, promote the continued and steady development of Taiwan investment and support Taiwan enterprises in Guangdong Province. The Guangdong Department of Commerce and the Provincial Office of Taiwan Commerce held a Communication Conference on "to preach the spirit of 19th National Congress of the Communist Party and to further expand and actively use a number of policy measures of Foreign Investment” (for Taiwan businessmen) in Dongguan yesterday.

Chen Yuehua, deputy director of the Guangdong Department of Commerce and Fang Tao, deputy director of the Provincial Office of Taiwan Commerce and Taiwan businessmen representatives from more than 20 cities of Guangdong attended the conference.

Dongguan’s Opening Quality Continues to Improve

At the conference, Chen Yuehua introduced the development of Guangdong business. In 2017, progress has been achieved and stability ensured in the overall open economy of Guangdong.

The quality and performance of the open economy were improved remarkably, and the new development of the open economy made, which involves the new effect of the reform of the economic management system and the obvious effect of the reform and innovation of the free trade zone.

 “For example, from January to October this year, the import and export between Guangdong and the countries along the belt and road increased by 12.6%, accounting for 22.1% of the whole province; while the actual use of foreign investment was USD 460 million, up by 76.2%. In addition, Guangdong also gathered a group of high-end resources from Europe and America. From January to October this year, actual foreign investment from major developed countries, such as Europe and the US, grew 39.2%, up by 2.7% compared with the same period last year. said Chen Yuehua.

In the reform of the institutional mechanism for foreign economic management, a comprehensive pilot experiment was conducted in Dongguan for the open economic system, which has resulted in 25 reform practices with replication promotion significance. From January to October, Dongguan's import and export revenue has reached RMB 888.82 billion, continuing to be the fifth highest in the country; the year-on-year growth was 15.6% and the growth rate was almost unchanged with 4.6 percentage points across the province; and the overall competitiveness of foreign trade ranked the third among the country's top 100 cities.

"The Foreign Investment Ten" Contains High Value

The 19th National Congress of the Communist Party has made a significant deployment to promote the formation of a new comprehensive open system, proposing a high level of liberalization and facilitation policy for investment and trade. The industry believes that "the Foreign Investment Ten" is Guangdong's most aggressive new deal to attract foreign investment in recent years.

It is noted that "the Foreign Investment Ten" concentrates on the concerns and demands of foreign-invested enterprises, including further expansion of market access areas, increase use of foreign financial incentives, strengthen use of land security, support for R & D innovation, and make more financial support efforts to provide practical "dry goods."(useful techniques)

During the event, the Communication Group consists of the Department of Commerce, the Department of Finance, the Department of Science and Technology, the Office of Human Resources and Social Security, the Provincial Department of Land and Resources and other related units has respectively interpreted the 10 aspects of the new policies, new measures and new practices, and answered some of the questions raised by Taiwan businessmen.

Hu Min, a researcher at the National Institute of Administration, said "the Foreign Investment Ten" would play an important role in facilitating the formation of a new pattern of Guangdong's opening-up and building a new business environment in Guangdong, so that Guangdong could take advantage of foreign capital and attract high-end talent in the new round. "It is possible to say that every measure has a high percentage of value, and if it is actually implemented, it can further assemble innovative resources around the world and vigorously promote the development of innovation in Guangdong province." Hu Min told the journalist.

Businessmens Attention

It is said that the conference was the first on investment policy held in Guangdong province after the 19th National Congress of the Communist Party. It is held in Dongguan, which is the famous gathering place of Taiwan businessmen at home and abroad. According to the statistics of Bureau of Commerce of Dongguan, as of October 2017, there are 3,541 companies invested by Taiwan businessmen with a total contractual foreign capital of up to USD 21.1 billion, accounting for 23% of the citys total. The actual foreign investment was USD 19.73 billion, accounting for 25.9% of the citys total.

In the first 10 months of this year, Dongguan's total trade volume with Taiwan enterprises is USD 12.04 billion, an increase of 15.4% year-on-year, accounting for 8.4% of the city's total import and export amount.

"The conference is very timely. In the past, Taiwan businessmen could only work hard to do their businesses, paying no attention to studying and taking advantage of the latest policies of the country, the province and city, which must be changed in the new environment” according to Zhao Weinan, general secretary of Dongguan Taiwan Businessman Association. Guangdong "the Foreign Investment Ten" is of high value, there are a number of policies that have long been concerned to the Taiwan businessmen, such as the expansion of foreign market access. In the next phase, the association will invite relevant lawyer teams to gather the members to carry out and implement them.

Source: timedg.com


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