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Dalian leverages Summer Davos to attract foreign investment

Dalian leverages Summer Davos to attract foreign investment

DALIAN, China, June 27, 2024 /PRNewswire/ -- A news report from chinadaily.com.cn:

[Photo/Dalian's coordination office for 2024 Summer Davos]
[Photo/Dalian's coordination office for 2024 Summer Davos]

The Summer Davos Forum is more than just a meeting, it's a gateway for Dalian to enhance its international openness, global recognition, and participation in international economic cooperation.

The northeastern port city of Dalian, in Liaoning province, will again take center stage at the 2024 Summer Davos Forum, showcasing its vibrant business environment and robust industrial support for foreign investment.

Since partnering with the forum in 2007, Dalian has drawn significant interest from Fortune 500 companies and new champion enterprises, bringing numerous cooperation opportunities.

In 2013, during that year's Summer Davos Forum, Dalian introduced 100 key investment projects across various sectors, including industrial real estate, equipment manufacturing, fine chemicals, electronic information, biopharmaceuticals, and new materials. The city identified and engaged over 1,000 potential clients, successfully establishing project-matching channels.

At the 2015 forum, Dalian secured new clients and cooperation agreements, signing 13 investment projects in finance, advanced manufacturing, e-commerce, elder care, and industrial real estate. In 2017, the city signed 17 foreign investment projects, boosting its industrial transformation and upgrading.

The 2019 Summer Davos Forum saw 2,066 representatives from 101 countries and regions in Dalian, with nearly 70 percent being foreign guests and 60 percent business leaders. During this period, Dalian signed 16 key projects in information technology, biopharmaceuticals, intelligent equipment, and cultural creativity.

In recent years, Dalian has introduced policies to broaden channels for attracting foreign investment, improve services for foreign investors, and leverage foreign capital more effectively. The city aims to establish itself as a high-level open gateway hub.

Dalian is committed to enhancing its investment environment to attract foreign capital effectively. It ensures equal treatment for domestic and foreign investments, pioneering the "Regulation of Dalian City on the Promotion of Foreign Investment", a first in Northeast China. Additional measures, such as the Three-Year Action Plan for Deepening Cooperation with Japanese and Korean Industries, aim to optimize the environment, expand channels, stabilize scales, and improve the quality of utilization.

According to the Dalian Municipal Bureau of Commerce, the city has attracted over 17,000 foreign-invested enterprises to date, with over 5,000 currently active, accounting for more than half of the province's total. A total of 124 Fortune Global 500 companies have invested in 288 projects in Dalian.

Significant projects have bolstered industrial cooperation and quality enhancement, led by companies such as SK Hynix, Goodyear, Volkswagen, Nidec, and SKF, driving advancements in integrated circuits, equipment manufacturing, automobiles, and components. Japanese firms like Sompo Japan Insurance, Mizuho Bank, and Mitsubishi UFJ Financial Group have played pivotal roles in developing regional financial centers.

High-quality foreign investment projects landing in Dalian reflect foreign investors' recognition of the city's business-friendly environment and its efforts to build a high-level open gateway hub, and demonstrate the city's success in attracting substantial foreign investment.

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