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Guangzhou promotes Fortune Global Forum in London

(eguangzhou.gov.cn)Updated : 2017-06-16

Guangzhou, host city of the 2017 Fortune Global Forum, sent a delegation to another European city – London on June 14 to seek cooperation and woo enterprises to attend the December forum.

It comes just two days after the 10th roadshow in Munich, Germany on June 12.

The roundtable was attended by global magnates and economists, such as Nina Easton, co-chairwoman of the Fortune Global Forum, Lord Sassoon, chairman of the China-Britain Business Council and former British Treasury official, and Du Lan, senior vice president of iFlytek Co.

At the promotional event, Cai Chaolin, deputy mayor of Guangzhou, shared with attendees the city's advantages and potential, and showed his expectation of further cooperation with Britain in financial sectors.

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Global magnates discuss opportunities in China at the roadshow of the 2017 Fortune Global Forum held in London, the UK, on June 14. [Photo provided to chinadaily.com.cn]

As a global financial center and the largest economic hub in Europe, the UK capital is home to a total of 325,000 employees in its financial industry, a mainstay of the city's economy.

Guangzhou has long-cherished long-term financial cooperation with the UK. Early in 1983, the London-headquartered HSBC Group opened its first branch in the city.

"Guangzhou is the hub of the Pearl-River Delta region," said an official at HSBC Group. "Guangzhou's participation in strategies, including the Belt and Road Initiative and the Guangdong-Hong Kong-Macao Greater Bay Area, will bring us huge opportunities."

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Guangzhou Deputy Mayor Cai Chaolin invites British enterprises to attend the 2017 Fortune Global Forum and invest in Guangzhou at a roadshow held in London, the UK, on June 14. [Photo provided to chinadaily.com.cn]

Britain is an important trading partner with Guangzhou. In 2016, bilateral trade volume reached 16.38 billion yuan ($2.41 billion), up 7.7 year-on-year, making Britain the second largest in trade volume among European countries.

In the first quarter of 2017, Guangzhou exports to Britain totaled 4.06 billion yuan, up 57.6 percent year-on-year, while British exports to Guangzhou totaled 750 million yuan.

As of March 2017, Britain has directly invested in a total of 229 enterprises in Guangzhou, registering contracted foreign capital of $1.1 billion.

A number of Britain-based enterprises sighted the promising future of Guangzhou and set up operations and branches there, such as British oil producer BP, Europe's biggest bank HSBC, and pharmaceutical giant GlaxoSmithKline (GSK).