Shenzhen's actual use of foreign capital reached US$11 billion to hit a new high in 2022, which accounted for 39% of that in Guangdong Province and continued to rank first in the province, according to the municipal commerce bureau Sunday.
A total of 91 countries and regions around the world had invested in Shenzhen last year, and countries such as the Netherlands, the United Kingdom and Germany had significantly increased their investment in the city.
The southern metropolis in China also attracted a number of Fortune Global 500 companies and projects last year, which once again demonstrated the attractiveness of Shenzhen’s high-tech industry to foreign investment.
Official statistics showed that the actual use of foreign capital in the city’s high-tech industry reached US$4.5 billion in 2022, accounting for 41% of the city’s total. Among it, the actual use of foreign capital in the high-tech service industry grew by 13% year on year.
According to the bureau, Shenzhen continued to encourage the expansion of foreign investment, further promote the high-level opening up overseas, and improve foreign investment policies and laws as well as foreign investment promotion service system in the past year.
The city’s foreign investment regulations officially came into force Nov. 1, 2022, providing strong legal support for Shenzhen’s higher level of opening up.
James Chang, PwC China regional economic clusters managing partner, said Shenzhen — which is embracing historical development opportunities — is a place that foreign investors cannot ignore.
“Shenzhen’s international competitiveness in scientific and technological innovation and strategic emerging and future industries will be elevated, which will further promote high-quality economic and social development,” Chang was quoted as saying.