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The 2024 China Industrial Transfer Matchmaking Event commenced Sunday in Nanning City of Guangxi Zhuang Autonomous Region, pooling hefty investments totaling over 300 billion yuan (about 41 billion U.S. dollars).
This national-level event, now in its twelfth iteration across various regions of China, has significantly facilitated the signing and implementation of numerous major projects. In Nanning City, more than 300 projects have settled down in Guangxi, solidifying its position as a hub for industrial growth.
The event focused on four specialized industrial matchmaking sessions covering advanced equipment manufacturing, new materials, electronic information, and light industry textiles. It also included a series of investment tours.
The event drew attendance of over 1,400 representatives from government, industry, and commercial finance sectors for business negotiations and consultations.
"We have signed a total of 360 projects in areas such as equipment manufacturing, new materials and electronic information, with planned investments totaling 374.1 billion yuan. This event marks significant breakthroughs in terms of both quantity and quality of projects," said Wang Yongchao, director of the Department of Industry and Information Technology, Guangxi Zhuang Autonomous Region.
Among the signed projects, 80 involve investments exceeding one billion yuan each, totaling 3.075 trillion yuan and accounting for 82 percent of the total signed investment. Key industries such as new energy and petrochemicals include 235 projects with a combined investment of 250 billion yuan, constituting 67 percent of the total signed investment.
According to reports, the eastern and central regions including Shanghai, Guangdong, and Hubei have contributed the highest number of projects, with investments totaling 296.9 billion yuan, accounting for 79 percent of the total signed investment. The eastern region alone contributed 254 projects, making it the primary source of industrial transfer. The Guangdong-Hong Kong-Macao Greater Bay Area followed with 124 cooperation projects, accounting for 22 percent of the total signed investment.
"Our project plans a total investment of 13.5 billion yuan. If fully realized, it is expected to generate around 16 billion yuan in output and approximately two billion yuan in profit, providing jobs for over 3,000 people," said Lin Jianwei, chairman of Jiangsu Zhonglai Energy Technology Development Group Co., Ltd.
Experts noted that industrial transfer helps reduce enterprise costs, expand markets, and optimize industry resource allocation.
"The eastern regions possess technological and financial advantages, while the central and western regions have advantages in resources and population. This cross-regional transfer process ultimately enhances the overall competitiveness of the entire country," said Li Guoping, director of the China Center for Urban Management Research at Peking University.