CEPA:To Make the Relationship between Foshan and HongKong More Closely
2009.11.11

 


Service industry, which accounting over 90% of local total output value, is the support of Hong Kong economy. However, the proportion of manufacturing business, nearly 65%, is higher in terms of Foshan economy. The business of the two cities is strongly complimentary.” Chenyun said. In the first month of 2009, he led government delegation of Foshan city to Hong Kong to visit the senior officials of Hong Kong government. This is the highest-level dialogue beween Foshan and Hong Kong since Foshan became the first pilot city of CEPA.

 

Before this, National Development and Reform Commission had declared the “Outline of Program for the Development of Pearl River Delta Areas (2008-2020 year)” (hereinafter referred to as Outline).The Outline has gives new concept to the cooperation among Guangdong, Hong Kong, and Macao. Measures in details are listed in four aspects, that is to say, promoting the docking of important infrastructures, enhancing business cooperation, high-quality community and ways of innovative collaboration.—the has entered into substantial period. Moreover, with being the pilot city of first-trying CEPA5, Foshan is the first to do so as an example.  

 

The key areas of cooperation between Foshan and Hong Kong have been positioned firstly.

 

On September, 11th, 2008, the national ministry of commerce selected Foshan city, Pudong New Area in Shanghai, and Zhuhai city to be the first “Model City (Area) of the Implementation of CEPA”. The government of Guangdong province also listed Foshan as one of the five pilot cities of Guangdong where the expanding of opening-up policies to Hong Kong-Macao was performed firstly. The government of Foshan city started to discuss the key cooperation areas between Foshan and Hong Kong.

 

The close cooperation between Hong Kong and Foshan will be more positive in gloomy external economic environment.” On the meeting held on November 7th, CEPA First to Be Performed Policy and Foshan-Hong Kong Service Industry Cooperation Fair Jianhui Zhang, the secretary for Foreign Economy and Trade Bureau, revealed that Foshan, as the pilot city, schedules to greatly promote collaboration with Hong Kong in financial service industry, modern logistics industry, exhibition, business service and scientific service industry, and implement the supporting facilities and convenience of CEPA to fix the specific problems during the performance. After this, the government communication between Foshan and HongKong was increasingly more and more.

 

17fields bring business opportunities to Foshan and HongKong enterprises.

 

Although Foshan is different from Shenzhen which is adjacent to Hong Kong and enjoys special zone policies, it has ties of blood with Hong Kong since ancient time and shares the same culture.. 30 years of reform and opening up, on the basis of complementarities and mutual benefit and profit sharing, close cooperation in many fields such as industrial investment, urban construction cultural exchanges was enhanced between Foshan and Hong Kong. By the end of 2008, the number of Hong Kong and Macao based enterprises established in Foshan( including Taiwan and foreign firms that invested in Foshan through Hong Kong and Macao) had reached to 6,600, accounting for 79% of the total foreign-investment enterprise in the whole city. Over the years, the total amount of investment by Hong Kong and Macao based enterprises was about 12 billion $, accounting 65% of the utilized foreign investment of the whole city in practice. Among them, ESQUEL GROUP, Hutchison Whampoa Group, CHEN DE MACHINERY, SHUI ON GROUP, SHANHU ELECTRONICS, etc are the pillar role for the development of local industries.

 

Before the signing of CEPA5, lots of Hong Kong businessmen in service areas must make application to ministry of commerce before their investment in Guangdong. And right now, with the relatively loose access to CEPA5, the Hong Kong service sector could have chance to cooperate with mainland enterprises and make investment in 17 fields, such as accounting, building, science and technology information, exhibition, distribution, finance, travel, individual business. Hong Kong businessmen could apply to the Trade and Industry Department of HKSARG for certificate of origin after their knowledge of the opening areas of CEPA and the legal process of mainland industry access.

 

  Reportedly, from the beginning of CEPA to the end of this June, the Trade and Industry Department of HKSARG had been awarded 35,000 certificate of origin. With these certificates, the Hong Kong manufacturers, who transport commodities which are worth of more than 13.6 billion HKD to mainland, could enjoy zero tariffs.

 

Foshan and Hong Kong government will establish high efficiency cooperation mechanism.

 

The promotion of the cooperation between Foshan and Hong Kong is not accomplished in an action. There are various differences between the mainland and Hong Kong on the aspects of system, regulations, and policy. Many problems about cooperation need to be settled. Yuan Shen Du, the chairman of HKGCC Guangdong branch, said in an interview that “Some large-scale enterprises from Hong Kong have started the cooperation with Foshan through CEPA, but there are still some SME lacking for information. For this reason, on pragmatic respect, especially on statute and guidance, both parties need concrete measures.

 

To clear the hindrance to the cooperation between Foshan and Hong Kong, Foshan is in the process of positively taking many measures to make sure the promotion of the cooperation between the two. On November 14th, the ministry of commerce allowed Foshan city to implement the work program of CEPA model city by the Approval of Ministry of Commerce Agreement on implementation of CEPA Model City (Area). The deputy mayor Li Zifu, the member of “implementation of CEPA Model City (Area)” work coordination group, is in charge of the Work Program of CEPA Model City by carried out by Foshan and Embodiments of CEPA Demonstration City by performed Foshan.The governments of both Foshan and Hong Kong will timely hold the meeting of policy propaganda and consultation to make the service provider of Hong Kong can understand every policy and related investment information of service industry opening in all-round way.

 Wu Huilan Liu, the chief of Hong Kong Commerce and Economic Development Bureau, hoped both parties could exchange information more through internet. Moreover, the Trade and Industry Department of HKSARG had chosen special person who not only takes charge of the docking of mainland business but also do the coordination between Hong Kong for CEPA.

  The interaction of Foshan and Hong Kong has come up a climax.

 

It is reported that the value of import and export between Foshan and Hong Kong and Macao was 6.9biliion$ from January to December 2008, increased 0.4% year on year, accounting for 16.4% of the city’s import and export; of which export hit 6.9 billion $, 1.3% decrease over the previous year; import hit 0.9 billion $, 12.5% increase year o year. The main bulk commodities which are exported to Hong Kong and Macao from Foshan were textile and garment, camera, LCD panel, aluminum product, jewelry, TV, radio set, and frozen food. The economy and trade development between Foshan and Hong Kong has never been lacking for stir.

 

Just on the New Year’s Day, the second day on which Yunxian Chen, the mayor of Foshan city, visited Honking, Hong Kong Commerce and Economic Development Bureau, Hong Kong Productivity Council and Foreign Economic Bureau of Foshan co-held a seminar on Upgrading and Breakout of Enterprise under the leading of Production Management and Innovation. Under the situation of the global financial crisis, the development of Hong Kong invested enterprises in the mainland have met many problems which makes the cooperation between Foshan and Hong Kong become closer.

 

Most of the Hong Kong-invested enterprises in the mainland are trade processing enterprise. As the requirements of domestic energy conservation and emission reduction and adjustment of industrial structure are higher and higher, plus the financial turmoil, many of them are facing transformation and upgrading” said Shihua Pan, the officer of Hong Kong Productivity Council. It needs government coordination and support to help Hong Kong-funded enterprises to get through technical reform, management innovation and product update.

 

On Dec 16th, Foshan bureau of trade, Foreign Trade and Economic Cooperation Bureau, Hong Kong Commerce and Economic Development Bureau, Hong Kong Productivity Council co-held a seminar on Foshan-Hong Kong Cleaner Production Partnership Program in Foshan, which was designed to boost the transformation and upgrading of Hong Kong enterprises and provide financial and technical support for clean production of Hong Kong enterprises. Such closely exchanges directly push the corporation between the two parties to a climax.

 

  Both parties shall become closer and closer in future.

 

The CEPA cooperation was steady. Meanwhile, the debut of "reform of the Pearl River Delta Region Development Plan must promote the close economic cooperation among Guangdong, Hong Kong, and Macao. It is reported that the Hong Kong-Zhuhai-Macau Bridge Project is expected to begin this year. The central government has clearly invested 5billion RMB capital in the main work of this project. The complementation of the infrastructure among Guangdong, Hong Kong, and Macao will make the cooperation between Foshan and Hong Kong closer.

 

And at the same time, the economy and trade cooperation between Foshan and Hong Kong has come to the a landmark moment. On January 7th 2009, SUN HUNG KAI FINANCIAL signed at Guangdong financial high-tech service zone. It planned to invest no less than 1.2 billion RMB in building international financial integrated service area in Guangdong financial high-tech zone with 5 years. Yunxian Chen, the mayor of Foshan city, expressed his hope that more Hong Kong investment fund companies, insurance business could come to Foshan, especially Bank of Hong Kong.

 

Jianhui Zhang, the chief of Foshan Foreign Trade and Economic Cooperation Bureau, said that Foshan government was rolling out supportive policies to encourage the investment and development of Hong Kong and Macao modern service industry in terms of financial, logistics, exhibition, business and scientific fields. It gives support to the modern service suppliers of Hong Kong and Macao in these aspects of governmental service, market access, personnel training, project planning, support equipment, etc.. At the same time, speed up the reform of examination and approval system, that is to say, to open special information window of CEPA examination and approval in municipal and districts administrative approval service center, and coordinated by these administrative approval service centers. This provides a green channel for the examination and approval of CEPA Hong Kong and Macao service industry projects.

 

 In March, Foshan will go to South America with HK Trade Development Council for the series activities of popularizing trade investment. We’ll popularize the commercial and trade cooperation model among Hong Kong, Foshan, and South America, which is helpful for Foshan enterprises to the expand new rising South American market and cope with the international financial crisis in a positive way.” said Jianhun Zhang, “Foshan and Hong Kong will become closer in future”.

 

Related links

Information about CEPA

 Definition of CEPA

CEPA, with the full name of Closer Economic Partnership Arrangement, is a free trade agreement signed between the Central Government and the Government of Hong Kong SAR and the Government of Macao SAR respectively. Later in 2004,2005,2006,2007 and 2008, five supplementary agreements were signed respectively. CEPA is the earliest signed foreign trade and most open free trade agreement for the mainland. CEPA has made a great degree of preferential arrangement on opening to Hong Kong and Macao in the field of goods trade, service trade, facilitation of trade and investment and cooperation in finance and travel as well as the mutual recognition of professional certificate.

 

Firstly, it is the liberalization of goods trade. From 1st January 2006 the mainland will fully perform “zero of duty” for the products which will be transported into the mainland but are originally made in Hong Kong and Macao. At present, the number of products types from Hong Kong and Macao which are enjoying the zero of duty has reached to 2178. It almost includes all present existed products of Hong Kong and Macao and it also leaves the developing space for the products which may be invested to manufacture in Hong Kong and Macao in future.

 

Secondly, the opening of service trade The mainland has performed 221 items and 209 items of opening measures respectively for Hong Kong and Macao in 40 fields, such as financial, law, accounting, building, travel, medical, and logistics, etc. This refers to more than 30 governmental departments of the mainland. Majority of industry widen the investment policy in Hong Kong and cancel equity restriction, reduce the registered capital and qualification condition, and widen the investment area and business scope.

 

Thirdly, Promoting the facilitations of trade and investment The mainland and Hong Kong & Macao has strengthened the cooperation from 9 aspects, that is, trade & investment promotion, customs facilitation, electronic commerce, law & regulations transparence, commodity inspection and quarantine, food safety, quality standard, middle & small enterprises cooperation, industrial cooperation, protection of intellectual property cooperation, and brand cooperation.

Fourth, to perform the financial cooperation steadily, to open the policy which makes residents to visit Hong Kong and Macao as individual a possibility gradually, to boost the mutual recognition of both professionals.

 

  The Chronicle of Important Foreign-invested Projects in 2008

 

January: the U.S. AIG Group has invested 80 million U.S. dollars, and will build a business district which has the radiation background of Asian and Pacific areas in Nanhai. Its member companies will present most of its back-up departments and other ancillary services department (including telephone business center and training center) in Guangdong region into the financial high-tech zone.

 

Puli Technology Foshan Co., Ltd increased a capital of 36 million U.S. dollars.

 

Feburary: Aisin Seiki Foshan Body Parts Co., Ltd increased a capital of 24.68 billion U.S. dollars.

 

March: Multi-Media OEM Products Company Limited, located in Shunde District of Foshan City, increased a capital of 10 million U.S. dollars.

 

April: Honda Auto Parts Manufacturing Co., Ltd increased a capital of 50 million U.S. dollars.

 

May: Posco-Guangdong Steel Plate Co., Ltd increased a capital of 26.5 million U.S. dollars.

 

June: Toyota Foshan Comprehensive Plastic Co., Ltd increased a capital of 12.5 million U.S. dollars.

 

July: Foshan Midea Kaili Refrigeration Equipment Co., Ltd was established in Shunde, with a total investment of 28.604 million U.S. dollars.

Esquel Guangdong Textile Co., Ltd increased a capital of 98 million U.S. dollars.

Andritz Foshan Technology Co., Ltd increased a capital of 46.629 million U.S. dollars.

 

August: Kingwaybeer Foshan Co., Ltd increased a capital of 20 million U.S. dollars.

 

September: Summit Fertilizer Foshan Co., Ltd has invested a amount of 51.1245 U.S. dollars. It got to start the construction in September 2008 and will be finished and for production in September 2009. 

AGC Automotive Glass Foshan Co., Ltd increased a capital of 44.33 million U.S. dollars.

 

October: Chi Mei Lighting Technology Corporation increased a capital of 500.79 million U.S. dollars.

Hong Kong Shuion Group reconstructed Donghuali area of Shancheng, and the construction of first phase of investing Lingnan Tiandi began.

 

November: Guangdong Zhongxian Technology Co., Ltd was established, with a total investment of 64.465 million U.S. dollars, and the project of low temperature Poly-Si TFT AMOLED got into construction with registered capital of 23.2074 million U.S. dollars.

 

December: First phase of Outlets Brand discount store with a total capital of 80 million U.S. dollars.

 

 


Service industry, which accounting over 90% of local total output value, is the support of Hong Kong economy. However, the proportion of manufacturing business, nearly 65%, is higher in terms of Foshan economy. The business of the two cities is strongly complimentary.” Chenyun said. In the first month of 2009, he led government delegation of Foshan city to Hong Kong to visit the senior officials of Hong Kong government. This is the highest-level dialogue beween Foshan and Hong Kong since Foshan became the first pilot city of CEPA.

 

Before this, National Development and Reform Commission had declared the “Outline of Program for the Development of Pearl River Delta Areas (2008-2020 year)” (hereinafter referred to as Outline).The Outline has gives new concept to the cooperation among Guangdong, Hong Kong, and Macao. Measures in details are listed in four aspects, that is to say, promoting the docking of important infrastructures, enhancing business cooperation, high-quality community and ways of innovative collaboration.—the has entered into substantial period. Moreover, with being the pilot city of first-trying CEPA5, Foshan is the first to do so as an example.  

 

The key areas of cooperation between Foshan and Hong Kong have been positioned firstly.

 

On September, 11th, 2008, the national ministry of commerce selected Foshan city, Pudong New Area in Shanghai, and Zhuhai city to be the first “Model City (Area) of the Implementation of CEPA”. The government of Guangdong province also listed Foshan as one of the five pilot cities of Guangdong where the expanding of opening-up policies to Hong Kong-Macao was performed firstly. The government of Foshan city started to discuss the key cooperation areas between Foshan and Hong Kong.

 

The close cooperation between Hong Kong and Foshan will be more positive in gloomy external economic environment.” On the meeting held on November 7th, CEPA First to Be Performed Policy and Foshan-Hong Kong Service Industry Cooperation Fair Jianhui Zhang, the secretary for Foreign Economy and Trade Bureau, revealed that Foshan, as the pilot city, schedules to greatly promote collaboration with Hong Kong in financial service industry, modern logistics industry, exhibition, business service and scientific service industry, and implement the supporting facilities and convenience of CEPA to fix the specific problems during the performance. After this, the government communication between Foshan and HongKong was increasingly more and more.

 

17fields bring business opportunities to Foshan and HongKong enterprises.

 

Although Foshan is different from Shenzhen which is adjacent to Hong Kong and enjoys special zone policies, it has ties of blood with Hong Kong since ancient time and shares the same culture.. 30 years of reform and opening up, on the basis of complementarities and mutual benefit and profit sharing, close cooperation in many fields such as industrial investment, urban construction cultural exchanges was enhanced between Foshan and Hong Kong. By the end of 2008, the number of Hong Kong and Macao based enterprises established in Foshan( including Taiwan and foreign firms that invested in Foshan through Hong Kong and Macao) had reached to 6,600, accounting for 79% of the total foreign-investment enterprise in the whole city. Over the years, the total amount of investment by Hong Kong and Macao based enterprises was about 12 billion $, accounting 65% of the utilized foreign investment of the whole city in practice. Among them, ESQUEL GROUP, Hutchison Whampoa Group, CHEN DE MACHINERY, SHUI ON GROUP, SHANHU ELECTRONICS, etc are the pillar role for the development of local industries.

 

Before the signing of CEPA5, lots of Hong Kong businessmen in service areas must make application to ministry of commerce before their investment in Guangdong. And right now, with the relatively loose access to CEPA5, the Hong Kong service sector could have chance to cooperate with mainland enterprises and make investment in 17 fields, such as accounting, building, science and technology information, exhibition, distribution, finance, travel, individual business. Hong Kong businessmen could apply to the Trade and Industry Department of HKSARG for certificate of origin after their knowledge of the opening areas of CEPA and the legal process of mainland industry access.

 

  Reportedly, from the beginning of CEPA to the end of this June, the Trade and Industry Department of HKSARG had been awarded 35,000 certificate of origin. With these certificates, the Hong Kong manufacturers, who transport commodities which are worth of more than 13.6 billion HKD to mainland, could enjoy zero tariffs.

 

Foshan and Hong Kong government will establish high efficiency cooperation mechanism.

 

The promotion of the cooperation between Foshan and Hong Kong is not accomplished in an action. There are various differences between the mainland and Hong Kong on the aspects of system, regulations, and policy. Many problems about cooperation need to be settled. Yuan Shen Du, the chairman of HKGCC Guangdong branch, said in an interview that “Some large-scale enterprises from Hong Kong have started the cooperation with Foshan through CEPA, but there are still some SME lacking for information. For this reason, on pragmatic respect, especially on statute and guidance, both parties need concrete measures.

 

To clear the hindrance to the cooperation between Foshan and Hong Kong, Foshan is in the process of positively taking many measures to make sure the promotion of the cooperation between the two. On November 14th, the ministry of commerce allowed Foshan city to implement the work program of CEPA model city by the Approval of Ministry of Commerce Agreement on implementation of CEPA Model City (Area). The deputy mayor Li Zifu, the member of “implementation of CEPA Model City (Area)” work coordination group, is in charge of the Work Program of CEPA Model City by carried out by Foshan and Embodiments of CEPA Demonstration City by performed Foshan.The governments of both Foshan and Hong Kong will timely hold the meeting of policy propaganda and consultation to make the service provider of Hong Kong can understand every policy and related investment information of service industry opening in all-round way.

 Wu Huilan Liu, the chief of Hong Kong Commerce and Economic Development Bureau, hoped both parties could exchange information more through internet. Moreover, the Trade and Industry Department of HKSARG had chosen special person who not only takes charge of the docking of mainland business but also do the coordination between Hong Kong for CEPA.

  The interaction of Foshan and Hong Kong has come up a climax.

 

It is reported that the value of import and export between Foshan and Hong Kong and Macao was 6.9biliion$ from January to December 2008, increased 0.4% year on year, accounting for 16.4% of the city’s import and export; of which export hit 6.9 billion $, 1.3% decrease over the previous year; import hit 0.9 billion $, 12.5% increase year o year. The main bulk commodities which are exported to Hong Kong and Macao from Foshan were textile and garment, camera, LCD panel, aluminum product, jewelry, TV, radio set, and frozen food. The economy and trade development between Foshan and Hong Kong has never been lacking for stir.

 

Just on the New Year’s Day, the second day on which Yunxian Chen, the mayor of Foshan city, visited Honking, Hong Kong Commerce and Economic Development Bureau, Hong Kong Productivity Council and Foreign Economic Bureau of Foshan co-held a seminar on Upgrading and Breakout of Enterprise under the leading of Production Management and Innovation. Under the situation of the global financial crisis, the development of Hong Kong invested enterprises in the mainland have met many problems which makes the cooperation between Foshan and Hong Kong become closer.

 

Most of the Hong Kong-invested enterprises in the mainland are trade processing enterprise. As the requirements of domestic energy conservation and emission reduction and adjustment of industrial structure are higher and higher, plus the financial turmoil, many of them are facing transformation and upgrading” said Shihua Pan, the officer of Hong Kong Productivity Council. It needs government coordination and support to help Hong Kong-funded enterprises to get through technical reform, management innovation and product update.

 

On Dec 16th, Foshan bureau of trade, Foreign Trade and Economic Cooperation Bureau, Hong Kong Commerce and Economic Development Bureau, Hong Kong Productivity Council co-held a seminar on Foshan-Hong Kong Cleaner Production Partnership Program in Foshan, which was designed to boost the transformation and upgrading of Hong Kong enterprises and provide financial and technical support for clean production of Hong Kong enterprises. Such closely exchanges directly push the corporation between the two parties to a climax.

 

  Both parties shall become closer and closer in future.

 

The CEPA cooperation was steady. Meanwhile, the debut of "reform of the Pearl River Delta Region Development Plan must promote the close economic cooperation among Guangdong, Hong Kong, and Macao. It is reported that the Hong Kong-Zhuhai-Macau Bridge Project is expected to begin this year. The central government has clearly invested 5billion RMB capital in the main work of this project. The complementation of the infrastructure among Guangdong, Hong Kong, and Macao will make the cooperation between Foshan and Hong Kong closer.

 

And at the same time, the economy and trade cooperation between Foshan and Hong Kong has come to the a landmark moment. On January 7th 2009, SUN HUNG KAI FINANCIAL signed at Guangdong financial high-tech service zone. It planned to invest no less than 1.2 billion RMB in building international financial integrated service area in Guangdong financial high-tech zone with 5 years. Yunxian Chen, the mayor of Foshan city, expressed his hope that more Hong Kong investment fund companies, insurance business could come to Foshan, especially Bank of Hong Kong.

 

Jianhui Zhang, the chief of Foshan Foreign Trade and Economic Cooperation Bureau, said that Foshan government was rolling out supportive policies to encourage the investment and development of Hong Kong and Macao modern service industry in terms of financial, logistics, exhibition, business and scientific fields. It gives support to the modern service suppliers of Hong Kong and Macao in these aspects of governmental service, market access, personnel training, project planning, support equipment, etc.. At the same time, speed up the reform of examination and approval system, that is to say, to open special information window of CEPA examination and approval in municipal and districts administrative approval service center, and coordinated by these administrative approval service centers. This provides a green channel for the examination and approval of CEPA Hong Kong and Macao service industry projects.

 

 In March, Foshan will go to South America with HK Trade Development Council for the series activities of popularizing trade investment. We’ll popularize the commercial and trade cooperation model among Hong Kong, Foshan, and South America, which is helpful for Foshan enterprises to the expand new rising South American market and cope with the international financial crisis in a positive way.” said Jianhun Zhang, “Foshan and Hong Kong will become closer in future”.

 

Related links

Information about CEPA

 Definition of CEPA

CEPA, with the full name of Closer Economic Partnership Arrangement, is a free trade agreement signed between the Central Government and the Government of Hong Kong SAR and the Government of Macao SAR respectively. Later in 2004,2005,2006,2007 and 2008, five supplementary agreements were signed respectively. CEPA is the earliest signed foreign trade and most open free trade agreement for the mainland. CEPA has made a great degree of preferential arrangement on opening to Hong Kong and Macao in the field of goods trade, service trade, facilitation of trade and investment and cooperation in finance and travel as well as the mutual recognition of professional certificate.

 

Firstly, it is the liberalization of goods trade. From 1st January 2006 the mainland will fully perform “zero of duty” for the products which will be transported into the mainland but are originally made in Hong Kong and Macao. At present, the number of products types from Hong Kong and Macao which are enjoying the zero of duty has reached to 2178. It almost includes all present existed products of Hong Kong and Macao and it also leaves the developing space for the products which may be invested to manufacture in Hong Kong and Macao in future.

 

Secondly, the opening of service trade The mainland has performed 221 items and 209 items of opening measures respectively for Hong Kong and Macao in 40 fields, such as financial, law, accounting, building, travel, medical, and logistics, etc. This refers to more than 30 governmental departments of the mainland. Majority of industry widen the investment policy in Hong Kong and cancel equity restriction, reduce the registered capital and qualification condition, and widen the investment area and business scope.

 

Thirdly, Promoting the facilitations of trade and investment The mainland and Hong Kong & Macao has strengthened the cooperation from 9 aspects, that is, trade & investment promotion, customs facilitation, electronic commerce, law & regulations transparence, commodity inspection and quarantine, food safety, quality standard, middle & small enterprises cooperation, industrial cooperation, protection of intellectual property cooperation, and brand cooperation.

Fourth, to perform the financial cooperation steadily, to open the policy which makes residents to visit Hong Kong and Macao as individual a possibility gradually, to boost the mutual recognition of both professionals.

 

  The Chronicle of Important Foreign-invested Projects in 2008

 

January: the U.S. AIG Group has invested 80 million U.S. dollars, and will build a business district which has the radiation background of Asian and Pacific areas in Nanhai. Its member companies will present most of its back-up departments and other ancillary services department (including telephone business center and training center) in Guangdong region into the financial high-tech zone.

 

Puli Technology Foshan Co., Ltd increased a capital of 36 million U.S. dollars.

 

Feburary: Aisin Seiki Foshan Body Parts Co., Ltd increased a capital of 24.68 billion U.S. dollars.

 

March: Multi-Media OEM Products Company Limited, located in Shunde District of Foshan City, increased a capital of 10 million U.S. dollars.

 

April: Honda Auto Parts Manufacturing Co., Ltd increased a capital of 50 million U.S. dollars.

 

May: Posco-Guangdong Steel Plate Co., Ltd increased a capital of 26.5 million U.S. dollars.

 

June: Toyota Foshan Comprehensive Plastic Co., Ltd increased a capital of 12.5 million U.S. dollars.

 

July: Foshan Midea Kaili Refrigeration Equipment Co., Ltd was established in Shunde, with a total investment of 28.604 million U.S. dollars.

Esquel Guangdong Textile Co., Ltd increased a capital of 98 million U.S. dollars.

Andritz Foshan Technology Co., Ltd increased a capital of 46.629 million U.S. dollars.

 

August: Kingwaybeer Foshan Co., Ltd increased a capital of 20 million U.S. dollars.

 

September: Summit Fertilizer Foshan Co., Ltd has invested a amount of 51.1245 U.S. dollars. It got to start the construction in September 2008 and will be finished and for production in September 2009. 

AGC Automotive Glass Foshan Co., Ltd increased a capital of 44.33 million U.S. dollars.

 

October: Chi Mei Lighting Technology Corporation increased a capital of 500.79 million U.S. dollars.

Hong Kong Shuion Group reconstructed Donghuali area of Shancheng, and the construction of first phase of investing Lingnan Tiandi began.

 

November: Guangdong Zhongxian Technology Co., Ltd was established, with a total investment of 64.465 million U.S. dollars, and the project of low temperature Poly-Si TFT AMOLED got into construction with registered capital of 23.2074 million U.S. dollars.

 

December: First phase of Outlets Brand discount store with a total capital of 80 million U.S. dollars.