"Guangdong is no longer merely a market or manufacturing base; it has evolved into a platform where businesses can leverage China's advantages in innovation and speed-to-market to boost their global competitiveness," said Sean Stein, president of the US-China Business Council (USCBC), during a series of business matching events between Guangdong Province and U.S. multinational corporations held in Guangdong's capital City Guangzhou on April 8.
This delegation marks the largest and highest-level group ever sent by the USCBC in its 53-year history, underscoring the strong confidence U.S. businesses have in both Guangdong and the broader Chinese market.
Representatives from U.S. institutions and enterprises, such as the Bay Area Council, Westlake Corporation, and Medtronic, highlighted the significant advantages of the Guangdong-Hong Kong-Macao Greater Bay Area, which boasts a broad market, robust sci-tech innovation capabilities, and sustained potential for industrial upgrades.
They emphasized the enormous potential for collaboration between Guangdong and the U.S., given the strong complementarity across various fields, and expressed their intent to expand investments in Guangdong, focusing on areas such as sci-tech innovation, green development, advanced manufacturing, and healthcare.
During the series of business matching events, many U.S. business representatives inquired about the policy support available for setting up and investing in Guangdong. In response, Department of Commerce of Guangdong Province has introduced several incentives for foreign-funded enterprises. For example, an eligible foreign-funded R&D center set up in Guangdong can receive one-time subsidies of up to 1 million yuan (about US$146,193), with global R&D centers from multinational corporations eligible for additional subsidies of up to 5 million yuan (about US$730,965).
Headquartered in Washington, D.C., the USCBC has long been committed to promoting the development of China-U.S. relations and economic cooperation between the two countries. Its members include internationally recognized enterprises such as PepsiCo and Tyco International.
Representatives from the council's member enterprises, including Procter & Gamble, Pfizer, General Electric, Carrier, Cargill, and Cisco, attended these trade events.
Reporters | Huang Xinyi, Tang Zitian, Yang Tianzhi
Script | Huang Xinyi
Cameramen | Zhong Zhihui, Lei Yiting
Video Editors | Huang Xinyi, He Zhihao
Photo: Nanfang Plus
