HEFEI, China--(BUSINESS WIRE)--Multinational corporations are an important force in building an open world economy. The matchmaking meeting of multinational companies at the 2023 World Manufacturing Convention (WMC) was held on the afternoon of September 20, in Hefei. This matchmaking meeting resulted in 33 cooperation projects with a total investment of 15.6 billion RMB.
According to WMC, Volkswagen, Continental, NIO, Corning, Saint-Gobain and other multinational companies continue to expand investment in Anhui; BEA, HSBC, Mizuho, Standard Chartered, Nanyang Commercial Bank and other international financial institutions have successively made deployments in Anhui. More than 4,600 foreign-funded enterprises had taken root in Anhui by the end of 2022, and 89 overseas Forbes Top 500 companies had set up 180 enterprises in Anhui, with foreign-funded enterprises contributing 23% of Anhui's imports and exports.
The spotlight of the 2023 WMC was the technological innovation in Anhui: the world's first quantum satellite "Mozi", the world's first commercial "quantum microscope" and many other world records. According to the statistics of WMC, Anhui has 23.7 effective invention patents per 10,000 people. With 121 universities, 7074 scientific research institutions, and 324 vocational schools, Anhui is also rich in innovation resources. Large scientific installations are forming clusters, and the key national laboratories have made plans in Anhui. The construction of Hefei Comprehensive National Science Center speeds up, and the Hefei-Wuhu-Bengbu National Independent Innovation Demonstration Zone develops rapidly. On average, there are about 11 national high-tech enterprises more every day.
WMC also highlighted Anhui’s role as an important manufacturing base in China, with all 41 industrial categories, of which 14 industries have a yield value of more than 100 billion RMB, and the yield of home appliances, laptops, and LCD screens is leading in the country. About 4 trillion-level industrial clusters consisting of a new generation of IT, automotive and parts, equipment manufacturing, new materials are being built, of which the "top" automotive industry has gathered 7 finished vehicle factories, more than 1100 parts and components enterprises are above the designated size, the exportation of finished vehicles with independent brands is the highest in China.
WMC also acknowledged Anhui's integration into the global supply chain system has been effective in recent years. In the first seven months of 2023, the actual use of foreign capital in Anhui's manufacturing and high-tech industries increased by 33.7% and 68.3% respectively, accounting for 52% and 45.2%.
As one of Anhui’s various platforms devoting to promote international economic and trade cooperation, WMC works closely with other local institutions, including China (Anhui) Pilot Free Trade Zone, 21 national development zones, 7 first-class open ports, 5 comprehensive bonded zones, 11 Anhui's international cooperation industrial parks, 24 national bases of foreign trade transformation and upgrading as well as the "Investment Tour to Anhui", the Haike Commerce Roundtable, and the "Anhui Going Global" FDI attracting operation, which provide a strong support for Anhui's opening up to the outside world.