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II.
Against the backdrop of economic globalization, the economic internationalization in all regions is closely connected to global foreign direct investment (FDI) led by multinational companies and international industrial transfer. Guangzhou is geared to international standards in aspects of factor flow, resource allocation and economic order, playing its role in promoting integration of global economy.
First, the internationalization of commodity exchanges. As China’s vital foreign trade city, Guangzhou has established business links with 223 countries and regions, almost covering all varieties of commodities. Since China’s entry into the WTO, Guangzhou’s annual foreign trade volume has increased by 10 billion dollars for a consecutive of 4 years, with an estimation of more than 70 billion dollars this year. Among this, the electromechanical and high-tech products represented by cars, bio-pharmaceutical products, printing circuit and digital camera, all together accounted for 70 percent of the city’s total export volume.
While commodity trade prospers in Guangzhou, the international competitive edge of service trade is also improving. At this moment while I am delivering my speech, thousands of Cantonese are providing logistic support for the Procter & Gamble Company, processing electronic data for HSBC bank, doing product research and development for Amway and designing architectural software for RIB…. Guangzhou has become a new hub for world outsourcing service, depending on its strengthened service industry.
Second, the internationalization of capital investment, funding and production. Since the reform and opening-up, about 18,000 international investment projects have been set up in Guangzhou, with a contract foreign capital of over US$65 billion and actual utilized foreign capital of over US$40 billion. Nowadays, more and more multi-national corporations regard Guangzhou as a key part in their global strategic layout. The Asian-Pacific Hub of FedEx, the only overseas R&D center of Nissan Automobile in Asia, and the Software Innovation Center of IBM all settled in Guangzhou one by one in the past two years. Averagely, in every one and half a day, Guangzhou has been attracting a foreign-funded project worth of US$10 million. Till now, 160 out of the World Fortune 500 companies have settled here in Guangzhou. Besides, efforts have been made by local enterprises in Guangzhou to go global and allocate their resources across the world. By now, enterprises of Guangzhou have set foot in countries and regions as Hong Kong, Macao, ASEAN countries, North America, and EU, etc. Their business covers mechanics & electronics, computer, communications, shipping agency, port construction, architecture, fishery, gardening, upholstering and designing, etc. These enterprises participate in global economic integration by setting up overseas factory, R&D center and marketing center and overseas listing.
Third, the internationalization of economic order. Guangzhou Municipal Government has spared no efforts in establishing, in strict accordance with the requirement of the WTO rules, a unified, just and transparent market economic order which conforms to general international rules. Firstly, the reform of administrative examination and approval system has been deepened, including simplifying examination and approval items, standardizing operation procedures, carrying out fast and convenient ways of examination and approval such as concentrated approval and on-line approval, inventing processing trade network and on-line joint annual examination system. These measures have greatly increased the efficiency of government operation. Secondly, government information service system has been set up. Since six years before, when the Policy Briefing was initiated, which is the first of its kind in China; Guangzhou has made great efforts in explaining and promoting policies and regulations in time for overseas businessmen and won huge applause. Efforts have also been made to establish the public service system with the core of “Guangzhou Early Warning Platform for International Technical Trade Barrier” and perfect the security system of the fair trade. Independent innovation will be encouraged to help manufacturing enterprises increase the core competence of their products so that orderly export will be achieved. |
