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Luohu held its 2022 Investment Promotion Fair on Nov. 24, extending an olive branch to enterprises and investors from around the world.

Twelve of the world's Top-500 enterprises signed about 60 cooperation agreements with the district government and local partners to launch a batch of projects in the district with a total intended investment of 102.4 billion yuan ($14.3 billion).

At the same time, many industry leaders and "unicorn" enterprises showed their interest in investing in Luohu at the fair, which is expected to help Luohu accelerate the upgrading of its industry chains.

In recent years, Luohu has built a "1+5+10+n" investment promotion work system, which refers to one coordinating department, five industrial departments, 10 sub-district offices, and some functional departments. The district government has innovatively set up seven investment promotion work teams of young cadres to search for investment, projects, talent and enterprises.

Since the beginning of this year, Luohu has "gone out" to attract investment outside the city nearly 100 times and "knocked on the door" of more than 500 enterprises outside Shenzhen. So far this year, the district has introduced 161 projects to its jurisdiction from outside the city and prompted 43 projects outside the city to consider the district, both of which rank first among all districts in the city.

The investment promotion fair allows Luohu to continue developing its headquarters economy, platform economy, and flow economy. In addition, the fair demonstrates the district's strengths and sincerity in attracting companies and talent to fill its industrial parks, office buildings, institutes and laboratories.

Among the 60 high-quality investment projects negotiated and signed at the fair, 53 were headquarters, platform and flow projects. Among these 53 projects, 12 are invested by world Top-500 corporations, 10 by foreign investors, 10 by listed companies and 28 by industry leaders. These projects will inject new vitality into Luohu's economic development and fuel future growth.

For instance, China National Coal Group Corp, one of the world's Top-500 enterprises, plans to set up a regional branch of South China in Shenzhen, and establish an institute in Shenzhen. Shandong Gold Group plans to launch a business management platform company to advance the digital transformation of the gold and jewelry industries. Meanwhile, Vanguard wants to create a national e-commerce platform in Luohu.

The district's sound business environment, efficient government services, and supportive policies have sustained its attractiveness to companies, projects, investment and talent.

In 2021, the authorized invention patents in Luohu increased by more than 90% year on year, and the number of invention patents per 10,000 people exceeded 26. At the same time, 114 companies in the district were recognized as national high-tech enterprises, and 89 scientific and technological enterprises were introduced.

Luohu mayor Fan Defan said the district is introducing 50 hectares of land for new enterprises and projects. Luohu, which has been renovating its urban areas to release more land, will always have space for eligible enterprises and projects to develop.

Entrepreneurs spoke highly of Luohu's business environment and its sincerity in attracting talent worldwide. They said that the district's pursuit of high-quality development would create opportunities for the development of the enterprises and set the stage for talented individuals to realize their dreams.

Wu Xiaoli, an official in charge of the commercialization of research findings at the Shenzhen Institute of Advanced Technology of the Chinese Academy of Sciences, said that the institute plans to fully use its resource advantages, focusing on intelligent pharmaceuticals, digital health, medical materials and innovative biology. He said the institute would build a comprehensive manufacturing and innovation center for medical health in the Guangdong-Hong Kong-Macao Greater Bay Area with Luohu as its base.

Additionally, to create a high-quality "new environment" for business, stimulate the "initiative" of commercial entities, and gather high-end commercial resources, Luohu has made every effort to expand channels of attraction and jointly develop a new model of precise investment promotion.

In 2021, Luohu invited 32 investment promotion partners to seek common development. These reliable partners have provided investment leads and introduced many high-quality projects to the district. At the fair, Luohu welcomed another 16 investment promotion partners.

The investment partners attributed Luohu's strengths to its solid industry base, complete supportive policy system and advantageous geopolitical location in the center of the Greater Bay Area, which will continue to attract investment, talent, projects and enterprises.

Hendrick Sin, chairman of the Internet Professional Association of Hong Kong (iProA), pointed out that the iProA chose Luohu as its investment partner because it has an excellent business environment. Moreover, Luohu has a solid foundation in finance, gold, jewelry, and other advantageous industries.

Sin said that relying on the industrial development pattern of "one main area, two zones and three belts" shows Luohu is also active in promoting innovative business forms and new industries.

Sin vowed to use the resources in Hong Kong and the advantages of Shenzhen-Hong Kong integrated development to help the district become an ideal place for Hong Kong enterprises to invest in the mainland.