Hunan Province's foreign investment scale has kept expanding, with more and more extensive sources of foreign capital. In the first eight months of this year, there were 232 new foreign-funded enterprises set up in the province. The foreign direct investment (FDI) into Hunan Province, in actual use, amounted to 954 million USD, the Department of Commerce of Hunan Province said on October 11, 2023.
Since the beginning of this year, Hunan has carried out major economic and trade activities such as the Hunan-Guangdong-Hong Kong-Macao Greater Bay Area Investment and Trade Conference Week and the China-Africa Economic and Trade Expo (CAETE). It has also established a regular exchange and cooperation mechanism with key foreign-funded enterprises and business associations and institutions. Among the 120 projects signed at the 3rd CAETE, 9 have been implemented and more than 90% are progressing smoothly. Hunan's first major event aiming at attracting foreign investment, the "2023 Multinationals Visiting Hunan", is being held from October 12 to 15.
The province has carried out research on industries and investment in key countries and regions; set up platforms for investment promotion activities in these areas; and, signed strategic cooperation framework agreements with Becton, Dickinson and Company (BD), Cushman & Wakefield, the Association of Chinese-European Innovation and Entrepreneurship (ACEIE), and the Bundesverband Mittelständische Wirtschaft (BVMW). Hunan is now pushing forward the construction of China-Europe (Hunan) International Cooperation Demonstration Zone, with the Xiangjiang New Area as the core and relevant industrial parks and zones provincewide connected to it. This aimed to create the most important platform and carrier for Hunan to align itself with the European market.
This year, Hunan has improved the policy system for investment attraction and established the round table system foreign-funded enterprises. It has regularly invited foreign-funded enterprises to carry out talks, so as to timely grasp, coordinate, and solve the most pressing difficulties of high concern to them during their development in Hunan. It has also established a normalized government-enterprise communication and negotiation platform.
This article is from the Hunan Provincial Government www.enghunan.gov.cn.
Translator: Yu Jiangjiang
Chinese source: hunan.gov.cn
