Over 1,000 new foreign-funded manufacturing firms established in China's Guangdong in 2023

GUANGZHOU - 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 Tuesday.

The actual utilization of foreign capital in Guangdong's manufacturing industry reached 49.22 billion yuan ($6.92 billion) last year, up 11.7 percent year-on-year, said Zhang Jinsong, head of the provincial department of commerce, told 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.