Shenzhen becomes a key destination for foreign investment

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On December 8th, the annual Shenzhen Global Investment Promotion Conference was held at the Shenzhen World Exhibition and Convention Center. Over 380 projects involving investments exceeding one trillion yuan were signed at the conference.

At the press conference of the 2023 Shenzhen Global Investment Promotion Conference, Zhang Feimeng, Director of the Commerce Bureau of Shenzhen Municipality, revealed a set of data showing that developed economies have increased their investment in Shenzhen this year. From January to October, investments from Canada, the United States, Singapore, and Switzerland in Shenzhen grew rapidly, with growth rates of 655%, 272%, 148%, and 77%, respectively.

In recent years, foreign-funded enterprises have continuously strengthened their efforts to establish R&D centers in Shenzhen. The city has now gathered 15 top foreign-funded scientific research and technical service enterprises, including Intel, Qualcomm, Apple, ARM and others.

Data shows that from January to October this year, Shenzhen established 6,469 new foreign-funded enterprises, a 69% increase year-on-year. The momentum of foreign capital entering Shenzhen not only remains strong, but the structure of capital attraction is also continuously optimized. The actual use of foreign capital in manufacturing amounted to 17 billion yuan, a 186% increase year-on-year, with the high-tech industry growing by 16%.