Zhanjiang's foreign capital utilization fastest growing in Guangdong
According to the Zhanjiang commerce bureau, the actual amount of foreign capital utilized in Zhanjiang from January to October this year was $228 million, an increase of 3.07 times, with the growth rate ranking first in Guangdong province.
The rapid growth of Zhanjiang's foreign investment is due to the landing of a number of key projects. For example, the BASF (Guangdong) integrated base project, with a total investment of $10 billion, was launched in Donghai Island in the Zhanjiang Economic and Technological Development Zone. It is the first wholly foreign-owned project in China's heavy chemicals industry.
In addition, several large-scale projects have also settled in Zhanjiang, such as the Zhanjiang International Cruise Port Complex project with a total investment of 7.5 billion yuan ($1.07 billion), the 3 billion yuan Hong Kong capital investment project of Zhanjiang Port Group, and other projects with an investment of over $10 million.
Policy support is another important reason for the growth. Zhanjiang formulated several measures to improve port efficiency and reduce fees. The charges for cargo port administration fees and port facility security fees were reduced by 15 percent and 20 percent respectively. About 108,480 yuan from customs inspection for foreign trade enterprises lifting, relocation, and storage was cumulative exempted.