Central China's Hubei Province
invited 27 foreigners to the opening of the provincial people's congress annual
session on Wednesday to help them better understand Hubei's latest achievements
and future plans. Hubei started inviting foreign
representatives to attend the opening ceremony of its provincial people's
congress in 2012.
The foreigners, mainly consular
officials, senior executives, business representatives and experts, view this
landlocked Chinese province as offering big opportunities in the economy and
culture.
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| image credit: internet |
"I was impressed by the
provincial government's emphasis on economic quality rather than speed,"
said Toshiyuki Koya, a Wuhan-based representative of the Japan External Trade
Organization.
Hubei reported GDP growth of 7.8
percent last year, with greater contributions coming from the service sector.
"The vitality of emerging
industries delights all of us," said Toshiyuki Koya.
He said that around 200 Japanese
firms have invested in Hubei, with 80 percent of the businesses in the auto
industry. In the next three years, another 50-plus Japanese firms are expected
to take root in Hubei, targeting emerging sectors such as the Internet and
culture.
The market environment has been
getting better and better in recent years, said Steven Carpenter, president of
AmCham China's Central China Chapter. He said foreigners are confident in
investing in Hubei in the long run.
Chung Jae-Nam, Consul General of
the Republic of Korea in Wuhan, said that Hubei's economy shows great vitality.
The approval of a free trade zone in the province will help Hubei open up its
economy.
"We will cooperate with our
Chinese counterparts in sectors including environmental protection, youth exchanges,
culture and art in the future," he said.
As a landlocked province, Hubei
has made efforts to attract foreign investors by carrying out favorable
policies, hosting international meetings and launching more cargo trains and
flights.
As of 2017, more than 260 Global
500 companies had invested in Hubei, making it the top destination for Global
500 companies in central China.
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