The province booked 130.25 billion yuan in actually utilised FDI in all categories in the first 10 months of this year, up 2.41% year-on-year, according to Nanfang Daily, citing the provincial commerce department. In total, 42 projects involved actually utilised FDI of over US$100mil each.
Among major latest foreign-invested projects in Guangdong, the US$10bil smart Verbund petrochemical project in Zhanjiang funded by German chemical giant BASF started its construction last month. It is the first large petrochemical project solely owned by a foreign investor in China. Also last month, GE Renewable Energy commenced the contraction of its first wind power factory in Asia in Jieyang.
Construction is expected to start in April next year on the US$10bil petrochemical project by US oil and gas major Exxon Mobil Corp in Huizhou.Pharmaceutical big name AstraZeneca announced last month it would establish its South China headquarters in Guangzhou. - China Daily/Asia News Network