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Changsha Rated as Hot City for Investment

Updated:2023-09-13 11:56:19

The 23rd China International Fair for Investment and Trade (CIFIT) was scheduled to be held in Xiamen from September 8 to 11. At the fair, Changsha was once again recognized as "China's Hot Cities for Investment" due to its ecological beauty and livability, advantageous industries, abundant innovation elements, openness, and business facilitation. This honor builds upon Changsha's previous win last year.

In recent years, Changsha has continuously optimized the investment management system, ramped up efforts to promote investment, strengthened the guarantee for investment, and promoted the scale and quality of investment. As a result, the city claimed many awards in the field of investment. Previously, Changsha was awarded the titles of "Top Ten Benchmark Cities on High-quality Development in 2023" and "Best Cities for Business on High-quality Development in 2023".

Large multinational companies including Germany's BASF and Bosch, Japan's Sumitomo, Britain's Prudential, Royal Dutch Shell, France's Danone, Singapore's Yihai Kerry, Sweden's IKEA, and the world's four major accounting firms have gathered and developed in Changsha. Changsha is home to 1,353 foreign-funded enterprises. In 2022, foreign-funded enterprises achieved a business revenue of 203.88 billion yuan, paying 11.25 billion yuan in taxes and creating 190,000 jobs. They have become an important force driving Changsha's economic and social development. To solicit more foreign investment, Changsha is making all-out efforts to build itself into a global R&D center and encouraging the introduction and cultivation of foreign R&D centers. A reward up to 1 billion will be granted to those Fortune global 500 companies who set up R&D centers in Changsha. In addition, a maximum of 10 million yuan will be granted to them based on their annual R&D investment increment. For newly-built foreign-funded R&D centers, the maximum subsidy will be 5 million yuan.

From January to July, Changsha introduced 65 new major projects with a total investment of 127.03 billion yuan. Among them, there were 37 manufacturing projects, accounting for 56.9%. The city has newly introduced 25 projects invested by Fortune Global 500 enterprises, top 500 Chinese enterprises, and top 500 Chinese private enterprises, with a total investment of 69.38 billion yuan. The city's investment attraction continued to show strong vitality.

During the CIFIT, the Changsha delegation visited some enterprises in Xiamen, participated in the arrangement and promotion of an exhibition featuring China's hot cities for investment, an urban dialogue, a plaque-conferring ceremony and other activities, and organized an investment promotion meeting for Changsha Southern Integrated Development Zone and a talkfest aimed to promoting Changsha's optical instrument industry in Xiamen.