Guangdong Unveils 20 Measures to Promote High-quality Development of Foreign Investment

On March 19, 2023, Guangdong Government released the Several Measures on Promoting the High-quality Development of Foreign Investment (the “Measures”), which came into effect on the same day.

The document introduced 20 measures in five aspects, calling for enhanced overall coordination of investment promotion work, improving the quality of domestic and foreign investments attracted for the goal of promoting industrial development, creating a branded investment promotion platform, increasing policy support for investment promotion, and further optimizing the business environment. It urged to increase efforts in investment promotion and capital selection, stressing introduction of 20 strategic industrial cluster projects in areas such as new generation of electronic information, semiconductors and integrated circuits, and supporting enterprises with the strengths to establish high-level R&D institutions such as technology innovation centers. Enterprises that meet conditions may be granted R&D funds, more effort should be made against monopolies and unfair competition, local protection and administrative monopoly should be eliminated, and policy commitments made to foreign investors in accordance with the laws and regulations should be strictly fulfilled.