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An Overview of Guangzhou Foreign Trade & Economy in 2009
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  Reading:1769  Origin:Invest Guangzhou  Refresh time:2010-12-9  
 
   
Foreign Trade
(i)Trade in Goods
Guangzhou’s imports and exports of cargo totaled USD 76.74 billion in 2009, down by 6.4 percent from the previous year, of which exports accounted for USD 37.41 billion, down by 12.9 percent and imports, USD 39.33 billion, an increase of 0.9 percent. Declines in exports and imports were respectively 7.5 and 3.0 percentage points lower than those of the whole country, but 4.4 percentage points lower and 1.4 percentage points higher over those of the whole province. With the gradual recovery of the global economy, the decline of Guangzhou’s exports to the U.S throughout 2009 was narrowed down to 2.75 percent, and that to Hong Kong, EU and Japan’s exports was also markedly narrowed respectively. By the end of the year, the city’s exports to the emerging markets had noticeably bounced, with the annual exports to the emerging countries totaling USD 9.139 billion, accounting for 24.43 percent of the whole city’s total. A strong momentum of recovery of the exports to ASEAN was shown.
The annual processing trade exports reached USD 19.916 billion, accounting for 53.24 percent of the total export value and the general trade exports were USD 16.028 billion, an amounting of 42.85 percent. The mechanical and electrical products with a total value of USD 20.015 billion made up 53.51 percent of the city’s total exports, of which the key products’ export volume such as motor vehicles, motorcycles and vessels ranks among the leading positions of China’s major cities; the annual export of high-tech products reached USD 7.602 billion, making up 20.32 percent of the city’s total exports, and improving the city’s export structure - LED panels, CD-ROME drives, hard disk drives were the key high-tech products exported.
 
(ii)Trade in Services
In 2009, the added value of Guangzhou’s service trade was RMB 554.556 billion yuan, an increase of 13.6 percent, an occupation of 60.86 percent of the region’s GDP. According to an incomplete statistics, the financial cash flow of the BOP cross-border service trade exceeded USD 12 billion, a slight increase over the year earlier, in which the revenue was about USD 6 billion, down about 20 percent and the spending was about USD 6 billion, an increase of about 40 percent. Owing to the international financial crisis, the “other business services”and the “transport-related services” in Guangzhou’s service trade items decreased respectively by about 40 percent and 30 percent with a decline of an absolute amount of about USD 2 billion and USD 700 million. But the revenue of “tourism”, “construction and labor contracting services” and “computer and information services” grew by about 2.5fold, 33fold, and 26.64 percent respectively. And the spending of “other business services”, “tourism”, as well as the “exclusive right charge and special charge” grew by about 15 percent, 1.2fold and 80 percent respectively. Besides, technology trade grew steadily. In 2009, recorded contracts were a total of 448 technology import with the value of USD  845 million, an increase of 44.66 percent. And recorded contracts of technology export covered a total value of USD 1.6149 million.
 
ii Foreign investment
In 2009, the newly-authorized foreign direct investment enterprises were added up to 844, down by 14.83 percent from the previous year; the contracted foreign investment was USD 3.784 billion, ranking the first in the province, down by 36.1 percent, a decline of 2.6 percentage points lower than that of the province; the actually-utilized foreign investment was USD 3.773 billion, up by 4.16 percent, an increase of 6.8 and 2.3 percentage points higher than that of the whole country and Guangdong Province respectively. The proportion of foreign investment in actual use rose from 1/25 of the whole country in 2008 to 1/24 in 2009. The foreign direct investment throughout the year showed the following characteristics:
(i)Foreign Direct Investment in Large Projects Fuelled the Economic Growth
The ultra-large projects with a total investment of USD 10 million were 145, including 80 newly-ratified ones and 65 capital-increasing ones, with the contracted foreign capital of USD 3.757 billion, accounting for 99.29 percent of the city’s total, an increase of 14.68 percent over last year.
 
(ii) A Steady Increase of Investment from Enterprises Listed Among Fortune Global 500.
 In 2009, among the 2008 Fortune Global 500, 6 foreign direct investment enterprises and 21 capitalincreasing ones were ratified to locate their footing in Guangzhou, involving a total investment of USD 436 million and the contracted foreign investment of USD 192 million.
 
(iii)HK, the British Virgin Islands and Japan were the main Source
The actually-utilized foreign investment mainly came from Hong Kong, the British Virgin and Japan.
Hong Kong, the British Virgin Islands and Japan equally invested an actual amount of capital of more than USD 300 million. And the actual foreign investment from the three countries (regions) totaled USD 3.035 billion, accounting for 80.43 percent of the city’s total foreign capital actually utilized.
 
(iv) The Proportion of Foreign Direct Investment in Manufacturing Sector Increased.
The contracted foreign capital in manufacturing sector was USD 2.095 billion, accounting for 55.35 percent of the city’s total, an increase of 16.79 percentage points over the same period last year; the actual use of foreign capital was USD 1.626 billion, accounting for 43.09 percent, an increase of 2.18 percentage point over last year.
 
(v) A Rapid Growth was Achieved in Advanced Manufacturing Industries Covering Communications Device, Computers Electronic Equipments, Electrical Machinery and Apparatus.
As one of the three pillar industries, the manufacturing industry of communications device, computers and other electronic apparatus grew rapidly, with the contracted foreign investment increasing by 89.40 percent over the same period the year earlier. The contracted foreign investment in the manufacturing industry involving electrical machinery or apparatus was increased by 13.49 times against the previous year.
 
(vi)The Structure of Actually-Utilized Foreign Capital in the Service Sector was Optimized.
 In addition to the real estate, the actual use of foreign capital in other services totaled USD 944 million, up by 64.65 percent over the same period of the previous year, making up 25.02 percent of the city’s total, an increase of 9.19 percentage points over the same period of last year.
 
iiiForeign Economic Cooperation
 In 2009, as many as 78 foreign investment projects were authorized with an aggregate foreign investment of USD 790 million, an increase of 5.7 times. The newly-signed foreign contracted projects and contracts on labor services cooperation amounted to USD 410 million, up by 33.5 percent; the completed turnover reached USD 390 million, up by 21.2 percent. The characteristics of the foreign economic cooperation were as follows: Firstly, a substantial increase of overseas investment in trade, service, manufacturing, R & D investment was in growth. Secondly, the number of companies with large projects was in augment. Among the 78 large projects, there were 20 ones with a total investment of more than USD 5 million, whose investment made up about 92 percent of the total amount of overseas investment, and 7 ones with a total investment of USD 10 million, whose investment accounted for approximately 81 percent. Thirdly, the structural transformation of foreign-invested enterprises achieved new progress. For the purpose of obtaining technology and brands, merging investment became the new highlight of the overseas investment. For example, the Guoguang Electric Co,Ltd merged the equity of the world-renowned brand AuraSound; the promotion of scientific innovation of the domestic enterprises through overseas R & D was regarded as a new choice.- Guangzhou SAT Infrared Technology Co,Ltd and Guangzhou Keii Electro Optics Technology Co,Ltd- established R & D institutions in France and Germany. Fourthly, a noticeable trend of diversified investment in overseas markets was demonstrated as follows: Hong Kong and Macao were still the first choice of the city’s enterprises to develop abroad; there was a clear increase of investment in African and European market; a new breakthrough was made in South American market in comparison with the same period of last year. Fifthly, private enterprises were fortifying their strength. Among the 78 projects, 47 ones belonged to private enterprises, whose investment accounted for 85.5 percent of the total overseas investment. Sixthly, the overseas contracted projects and labor services cooperation were in uptrend with the new contract of foreign labor service cooperation amounted to USD 329 million, an increase of 12 percent, with a turnover of USD 359 million, an increase of 15.25 percent.
 
 
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