There is a favorable situation of Guangdong¡¯s investment and cooperation abroad. The large enterprises are accelerating the process of internationalization, while the individually-run enterprises are taking an active part in the investment abroad. A batch of enterprises represented by Huawei, ZTE, TCL, and Gree constitute the main force for implementing the policy of ¡°going global¡±.

By the end of 2006, Guangdong had totally established 1,635 enterprises of various types abroad as well as in Hong Kong and Macao, amounting to an agreed investment value of USD$ 4.885 billion, the investment covering more than 80 countries and regions with a focus in Hong Kong & Macao, Southeast Asia, MiddleEast, Africa and South America. There was 108 enterprises established abroad newly approved in 2006, concluding with an investment value of USD$ 640,000,000, among which the investment from China accounting for USD$600,000,000. Energy sources development has become the hot spot of investment abroad. There is an increasing tendency for Guangdong¡¯s enterprises to invest in Hong Kong and Macao. By the end of 2006, Guangdong had had totally 887 enterprises approved in Hong Kong and Macao, with an agreed investment value of USD$ 3.01 billion.

Guangdong has witnessed a rapid growth in foreign labour and engineering contracting. In 2006, the contracts for undertaking foreign projects, cooperation in service, design and consultation amounted to 21,195, a 31.9% year-on-year rise; the total contract value rose by 39.1% to more than USD5 billion; the realized turnover reached USD3.82 billion, a 37.1% increase. The revenues from contracted projects in high-tech projects and electric and machinery fields made up more than 80% of the total for the year.

During the ¡°11th Five-Year Plan¡± period, the total turnover of Guangdong¡¯s foreign labour and engineering contracting is expected to increase by 10% annually, reaching USD$ 4.5 billion in 2010 and concluding with a total value of USD$ 14 billion for the five years; Guangdong¡¯s investment abroad is expected to increase by 10% annually, concluding with a total value of USD$ 1.9 billion for the five years.

(Source:  Department of Foreign Trade and Economic Cooperation of Guangdong Province)