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Greater Bay Area's vitality attractive to investors

Updated: Dec 29, 2022 ECONOMIC DAILY Print
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A photo shows the Hong Kong-Zhuhai-Macao Bridge, a mega sea-crossing project, in the Guangdong-Hong Kong-Macao Greater Bay Area, Aug 18, 2022. [Photo/IC]

The Guangdong-Hong Kong-Macao Greater Bay Area recently held a global investment conference in Guangzhou, capital of Guangdong province. It attracted hundreds of enterprises from more than 10 countries and regions.

At the conference, Siemens Energy announced that its Shenzhen branch was now officially registered, following its establishment as an innovation center in January last year. The innovation center focuses on smart energy, advanced gas turbines and green hydrogen energy, three core technologies related to the energy transition, and works to build a joint open platform to accelerate the commercialization and industrialization of innovation results.

The company said that the newly registered Shenzhen company will further strengthen collaboration with the Greater Bay Area, fully tap local innovation resources, talent and policy advantages, and help optimize the area's energy structure and layout.

Mitsubishi Heavy Industries, and the world's top 500 companies such as ZF Friedrichshafen AG and Carlsberg Group, also signed major projects at the investment conference.

A total of 853 cooperation projects were signed, with a total investment of 2.5 trillion yuan ($359.33 billion), and 48 major projects were inked on site, with a total investment of 180.1 billion yuan. The enterprises that signed these major projects include both foreign-funded enterprises and Sino-foreign joint ventures, involving advanced manufacturing, biotechnology, new generation information technology, and food and health industries.

Covering Hong Kong, Macao and nine cities in the Pearl River Delta, the Guangdong-Hong Kong-Macao Greater Bay Area is one of China's most open and dynamic regions, and also the fastest growing and most dynamic bay area in the world. The "Chinese vitality" the area has demonstrated is the main reason why it has won recognition from investors at home and abroad. Its "Chinese speed" is another attraction.

As the largest area of the Guangdong pilot free trade zone, the local authorities are making greater efforts to develop the Nansha Area into the first special zone for international talents in China, accelerate the building of a modern industrial system driven by advanced manufacturing and modern service industries, and build a major strategic platform based on the Greater Bay Area, coordinating Hong Kong and Macao, and facing the world. These pragmatic opening-up measures have also provided a broad space for foreign investment.

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