Han Ximin

1824295095@qq.com

OVER 1,000 senior executives of Fortune Global 500 companies and China’s top 500 firms, as well as foreign diplomats and representatives of foreign business associations will participate in the 2023 Global Investment Promotion Conference to be held at the Shenzhen World Exhibition & Convention Center in Bao’an District on Friday.

At a news conference held by the city’s information office yesterday, Zhang Feimeng, director of the local commerce bureau, said this year’s event, in its fifth edition, will showcase Shenzhen’s economic vitality, innovative drive, urban charm, and investment potential.

The conference will consist of a main event, the Investment Results Exhibition, 12 district-level investment promotion conferences, and activities at overseas subvenues.

The inaugural Investment Results Exhibition will showcase the city’s investment achievements over recent years. An area will be set up for an exhibition on local renowned brands to display products in advanced manufacturing, consumer electronics, trendy lifestyles and the new-style tea industry.

According to Zhang, some significant projects are expected to be signed on site. Additionally, new incentives for investment in Shenzhen for 2024 will be unveiled.

An important stage to showcase the city’s development achievements and business environment to the world, the Shenzhen Global Investment Promotion Conference witnessed deals on over 900 projects signed from 2019 to 2022, involving a total intended investment of over 3 trillion yuan (US$420 billion).

Shenzhen has received 83 ministerial-level foreign delegations in the first 11 months of this year, according to yesterday’s conference. Executives of multinational corporations and trade organizations such as HEXAGON, Siemens, Starbucks, Sanofi, Merlin Entertainments, and the European Chamber of Commerce visited Shenzhen, expressing intentions to expand their investments in the city.

Since 2018, Shenzhen has annually introduced measures to improve the business environment and so far implemented over 1,000 incentives. In August, the city issued three  new action plans to optimize the market-oriented, law-based, and internationalized business environment with an aim to make Shenzhen a prime destination for global investment.

The city now boasts 4.16 million business entities, leading the country in both quantity and density, and is home to the headquarters of 11 Fortune Global 500 companies.

Between January and October, a total of 6,469 new foreign-funded enterprises were set up in Shenzhen, a year-on-year increase of 69%, according to the city’s development and reform commission.