PR97608

GUANGZHOU, China, Aug. 31, 2022 /Xinhua=KYODO JBN/--

The Eighth Guangzhou Annual Investment Conference China and the First Global

Unicorn CEO Forum was held in Guangzhou on August 30. A gathering of over 700

business and institutional representatives, as well as entrepreneurs and

innovators from all social sectors, the event also attracted a plethora of

firms from 45 countries and regions, from Fortune Global 500 companies and

Chinese central state-owned enterprises to industry leaders to unicorns. It

suggested that most global businesses remain sanguine about investing in the

southern Chinese city and its future, despite market uncertainties across the

world.

To fully live up to its theme - "Investing in Guangzhou Is Investing in the

Future", the  Annual Conference included one general meeting and 20 parallel

sessions, in addition to nine overseas sessions held in countries like the US

(Silicon Valley), Germany (Berlin), Japan (Tokyo), and Singapore. Entrepreneurs

throughout the world were invited to discuss business opportunities and

sustainable development. Also, the event saw a host of major projects signed by

355 investors from 20 countries and territories, according to Guangzhou

Municipal Commerce Bureau. Such will be a boost to Guangzhou's strategic

emerging industries, such as advanced manufacturing, automobile,

next-generation information technology, modern commerce, and new energy.

As a core of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), Guangzhou

embraces openness and inclusiveness, fosters a sound, efficient business

climate, and boasts full-fledged industries. These qualities are the reason it

has received tremendous investment from many large multinationals. Beyond an

enabling environment for businesses, research and development (R&D), a solid

biomedicine foundation and a multitude of universities and medical institutions

make the city a draw for companies committed to pharmaceutical R&D and

innovation, according to Leon Wang, Executive Vice President International and

China President of AstraZeneca, a biopharmaceutical business.

China has now grown into one of the three most important global markets for

Unilever's business growth, said Frank Qu,  Head of Unilever China. The

consumer goods giant has recently launched its first manufacturing facility for

a full portfolio of its products in Guangzhou's Conghua Mingzhu Industrial

Park. This is the largest investment Unilever has ever made in China over

recent years and also its first carbon-neutral production site, aiming to build

itself into a world-class "lighthouse" factory that spearheads the

transformation of manufacturing.

In his address, the General Manager of China Resources Group, Wang Cuijun

applauded Guangzhou's sound business climate and its enduring commitment to

reform and opening-up, saying these are what appeal to creators and investors

across the world, particularly unicorn companies that master innovative

technology, pioneer new frontiers, and create novel models of business. That

means a greater number of unicorns will only spur economic growth, he added.

Another highlight at the event was the release of the Global Unicorn Index 2022

Half-Year Report by Rupert Hoogewerf, the chairman and chief researcher of

Hurun Report. Of 312 unicorns on the list that China houses, 62 come from the

GBA, and Guangzhou overtakes Boston to take the 11th spot with 19 unicorns,

growing faster than any other Chinese city.

Strong industrial clusters Guangzhou has to offer also lay the groundwork

needed for unicorns to promote innovation and entrepreneurship. With sizeable

business clusters, the city allows each industry a variety of well-suited

application scenarios, and it would be the first choice if artificial

intelligence (AI) is to develop an industry-wide reach, said Wang Zai,

co-founder and executive president of Cambricon Technologies Corporation

Limited, an AI chipmaker.

It has been eight years since the inauguration of the Guangzhou Annual

Investment Conference. Beyond a showcase of reform and opening-up successes

achieved by Guangdong and even China, the signature event has expanded global

investors' understanding of the GBA, Guangzhou in particular. As of August

2022, 1,658 projects were launched in the city by 335 Fortune Global 500 firms.

Greater development and investment opportunities will be created for the global

business community as Guangzhou continues to improve its business climate.

Source: Guangzhou Municipal Commerce Bureau