Over 5,000 FDI firms established in Guangzhou in 2018

GUANGZHOU -- South China's metropolis Guangzhou saw a total of 5,376 foreign direct investment (FDI) enterprises established in 2018, the city mayor said Tuesday.

The number of newly established FDI enterprises in Guangzhou last year rose 1.2 times more than the number in 2017, said Mayor Wen Guohui in his government work report delivered Tuesday.

By the end of last year, 301 out of the global 500 companies had invested in Guangzhou. Their combined paid-in value of FDI totaled $6.7 billion in 2019, an increase of 6.5 percent year-on-year.

The city's manufacturing industry's paid-in value of FDI saw a 2.3-time increase from a year ago, the mayor said.

Guangzhou has been striving to create a better business environment. The city unveiled a pilot scheme for comprehensive reforms to improve its business environment last year, introducing pre-entry national treatment plus negative list for foreign investment.