Foshan has ideas for attracting investors

Zhu Wei, deputy Party chief and mayor of Foshan, Guangdong province, said his government would continue to make efforts to reduce production costs in the manufacturing industry to lure investors and promote economic development in the months and years ahead.

Foshan, located 20 kilometers southwest of Guangzhou, would integrate into the global high-end manufacturing supply chain through further improvements in its investment and business climate to attract both domestic and offshore investment and projects, said Zhu, who is also a deputy to the 13th National People's Congress.

Foshan, a major production base in the country, had a GDP of more than 1 trillion yuan ($142.85 billion) in 2019, placing it 17th among major cities on the Chinese mainland.

Its manufacturing industry represented about 60 percent of city's total GDP last year, Zhu told media on Sunday.

"It's a new beginning for Foshan," he said.

Zhu said that Foshan expects to attract at least 60 projects before year's end to fortify its manufacturing position, with each project securing an investment of more than 1 billion yuan.

"Priority will be given to the development of 5G, artificial intelligence, big data, industrial internet, internet of things and related new infrastructure industries and projects," Zhu said.

Zhu also promised to further expand cooperation with Hong Kong and Macao special administrative regions and other cities in the Pearl River Delta to accelerate the development of the city's finance, communication, culture, tourism, medical sciences and service industries in the years ahead.

The city, known as the hometown of kungfu legend Bruce Lee, produced more than 40 million face masks, 15,000 protective suits and 100,000 forehead thermometers daily when the country was hit by COVID-19.

In addition to supporting the country's to fight against the pandemic, Foshan has exported large amounts of anti-epidemic materials and products abroad, he added.