A ceremony was recently held in Guangzhou for the 35th anniversary of the establishment of the Guangzhou Association of Enterprises with Foreign Investment, and the Exchange Conference for Multinational Corporations.

The Guangzhou Association of Enterprises with Foreign Investment was established on Nov 25, 1987. It was the first association of its kind to be established in China with the approval of the Guangzhou municipal government.

"Foreign investment is an important support for Guangzhou's economic development. Foreign-funded enterprises, which account for less than 2 percent of all enterprises in the city, contribute more than 30 percent of its total import and export volume," said Liu Ye, vice president of the Guangzhou Association of Enterprises with Foreign Investment, at the meeting.

He believes that in the future, Guangzhou will attract more foreign investment in high-tech fields, drive industrial transformation and upgrading, and achieve high-quality economic development in Guangzhou.

According to Klaus Zenkel, vice president of the European Union's Chamber of Commerce in China, EU companies investing in Guangzhou are mainly distributed in manufacturing, high-tech industries, information technology, and new energy fields, which match well with the development of Guangdong and the Guangdong-Hong Kong-Macao Greater Bay Area.

He expressed that the Greater Bay Area currently has a very complete infrastructure and an open business environment, which is conducive to attracting more foreign-funded enterprises to invest and develop in Guangzhou.

The commendation ceremony for "Guangzhou Outstanding Foreign-funded Enterprises" was held during the event as well, and a total of 25 foreign-funded enterprises were commended.

The 35th anniversary of the establishment of the Guangzhou Association of Enterprises with Foreign Investment and the Exchange Conference for Multinational Corporations are held in Guangzhou.