Knowing All about Hunan

Changsha's actual use of foreign investment exceeds 2 billion USD in 2021

Updated:2022-01-19 15:00:07

In 2021, Changsha's actual use of foreign investment exceeded 2 billion USD, accounting for 83.1% of the province’s total and ranking first among provincial capitals in central China. Its scale of investment attraction reached a record high.

Investors keep enthusiastic about investing in Changsha

In 2021, Changsha’s paid-in foreign investment surged 88.09% to 2.007 billion USD. The growth rate was 67.9 percentage points higher than the national average and 15.8 percentage points higher than the provincial average. Changsha had 282 new foreign-funded enterprises, increasing 34.9% year on year. Overseas Fortune Global 500 companies such as BASF of Germany, Adecco of Switzerland, and Aeon and Mitsui of Japan made new investments in Changsha. A total of 178 Fortune Global 500 companies have settled in Changsha.

Attract foreign investment in various forms

In 2021, Changsha encouraged leading foreign-funded enterprises to invest in various forms such as capital increase and share expansion, equity merger and acquisition, profit transfer, and round-trip investment. The paid-in investment of BASF, GAC FIAT, Wharf, Xingsheng Youxuan and other projects each exceeded 50 million USD.

Optimize foreign investment environment 

In terms of optimizing the foreign investment environment, Changsha issued “Several Measures of Changsha City to Further Expand the Utilization of Foreign Capital to Promote High-quality Economic Development”, which took effect from August 1, 2021. It aimed to make up for the shortcomings and weak links in the city’s foreign investment work.

On August 26 last year, Hunan Pilot Free Trade Zone Changsha Area established a contact point offering one-stop services to foreign-invested enterprises, including personnel entry and exit, investment consultation, enterprise registration, project construction, production and operation, and complaint handling. This helped coordinate and solve the major affairs of foreign investors’ concern.

A person in charge of the Changsha Municipal Bureau of Commerce introduced that, in 2021, the city's foreign-funded enterprises achieved a profit of more than 22 billion yuan, and the total taxes paid amounted to 12 billion yuan. Among them, 23 foreign-funded enterprises each had paid more than 100 million yuan in tax, and created over 200,000 jobs.

Translator: Kuang Zhenzhen