Over 1,000 new foreign-funded manufacturing firms established in China's Guangdong in 2023
BY :Xinhua
UPDATED :2024-01-26
This undated photo shows a production line of new energy vehicles (NEVs) of BYD in Shenzhen, South China's Guangdong province. (BYD/Handout via Xinhua)
A total of 1,078 new foreign-funded manufacturing enterprises were set up in South China's Guangdong province in 2023, marking a year-on-year increase of 29.9 percent, local authorities said on January 23.
The actual utilization of foreign capital in Guangdong's manufacturing industry reached 49.22 billion yuan (about US$ 6.92 billion) last year, up 11.7 percent year on year, said Zhang Jinsong, head of the provincial department of commerce, at a press conference of the second session of the 14th Guangdong Provincial People's Congress.
In 2023, Guangdong's high-tech manufacturing industry attracted 25.09 billion yuan of foreign investment, marking a year-on-year increase of 40.5 percent, Zhang added.
