The launching ceremony of Guangzhou and Foshan's joint global investment promotion was held on Sept 16 in Guangzhou, with a strategic cooperation framework agreement signed to increase the stability and competitiveness of industrial chains and supply chains in the two cities.

According to the agreement signed by the Guangzhou municipal commerce bureau and the Foshan bureau of commerce, the two cities will team up in attracting investment for four industrial clusters, namely advanced equipment manufacturing, automobiles, the new generation of information technology, as well as biomedicine and health.

Guangzhou's producer services will be further integrated with Foshan's manufacturing industry to launch investment promotions in areas spanning finance, modern logistics, commercial services, electronic commerce, and manufacturing, aiming to attract a batch of high-quality projects that meet the development priorities of the two cities, as well as to increase regional industrial competitiveness. 

At the launching ceremony, Steven Stewart, vice president of the Asian Apparel Department of the Lycra Company, which has invested in Foshan, said that the convenient airport and high-speed railway services provided by the co-urbanization of Guangzhou and Foshan have enabled the company to rapidly respond to major customers in South China. He added that the universities in Guangzhou and Foshan have also provided rich talent resources, bringing great convenience to the development of the company.

A special working group on the joint global investment promotion of the two cities will be set up. A mechanism for information sharing and regular meetings will also be established. 

Three parallel forums were held on the same day, focusing on artificial intelligence and digital economy, the biomedicine industry, as well as intelligent and connected vehicles (ICVs), showcasing the great opportunities in the development of Guangzhou and Foshan's strategic emerging industries.

After the conference, Guangzhou and Foshan arranged five inspection routes on local investment environments, one of which was to investigate the Guangzhou-Foshan high-quality development integration pilot zone running through Guangzhou's Liwan district and Sanlongwan innovation cluster in Foshan.

Su Yan (left), director of the Foshan bureau of commerce and Hong Qian, director of the Guangzhou municipal commerce bureau sign the strategic cooperation framework agreement. [Photo provided to chinadaily.com.cn]