Continuing favor in foreign investment

A growing volume of foreign investment continues to flow into Foshan, illustrating its continuing appeal to investors.

Local statistics show that the city secured foreign investment contracts worth $2.4 billion in the first eight months of this year, an increase of 7.93 percent from a year ago.

To date, more than 9,000 foreign-funded projects have been established in Foshan. Their total investment now surpasses $60 billion, according to the city’s statistics bureau.

More than 100 projects are funded by the world’s top 500 companies with combined capital input exceeding $5 billion, said the bureau.

Zhou Zhitong, directorgeneral of the Foshan Foreign Trade and Economic Cooperation Bureau, said the city is successful in attracting investment even in a time of global economic slowdown.

The official attributed the success story to the local government’s strenuous efforts in intellectual property rights protection and its highly efficient and professional services. Adding to the appeal are the city’s improving infrastructure, advantageous location, well-developed industrial chains and huge market, said Zhou.

He noted Foshan was selected by the State as a pilot city for IPR protection as early as in 2004 and became the nation’s model city for IPR protection in 2010.

I’ve learned from the businesspeople from time to time that our services helped them make the final decision for locating their investment here.” ZHOU ZHITONG DIRECTOR-GENERAL FOSHAN FOREIGN TRADE AND ECONOMIC COOPERATION BUREAU

“The local government has implemented a number of effective measures for IPR protection,” the official said.

He said Foshan is one of the leaders in Guangdong province in the number of approved patents and trademarks.

Zhou said that the city government’s efficient and professional services for investors are also a key reason for it continuing success.

“I’ve learned from the businesspeople from time to time that our services have helped them make the final decision for locating their investment here,” he said.

According to the official, Foshan’s governments at the city, district and township levels have all set up “one-stop shops” to serve investors.

The city is also a national pilot in reforming its business registration system, featuring simplification and transparency in approval procedures.