Photo shows the regional operation of the Toshiba Corporation. Attracted by the city's excellent investment climate, Toshiba has set up six projects in Foshan.

The municipal government of Foshan will lead a delegation to Japan later this month to promote the city's investment opportunities.

The delegation will launch a promotional campaign in Osaka on March 27 and a similar event in Tokyo on March 29.

It will take advantage of this opportunity to approach some Japanese industrial giants involved in information technology as well as the manufacture of equipment, LED chips, optical and electrical lighting, automotive parts, new-energy automobiles, semi-conductors and household chemicals.

"Many high-end manufacturing industries in Japan are moving operations overseas. Foshan aims to cash in on this opportunity to secure as many of this businesses as it can," said Zhou Zhitong, director general of the Foshan Foreign Trade and Economic Cooperation Bureau.

"The move is also the implementation of the city's strategy to supplement, build and fortify industrial chains."

The official said Foshan has become increasingly favored among foreign investors, including those from Japan, thanks to its competitive investment climate and ready industrial chains.

He said a large batch of world-renowned Japanese firms have set up 191 investment projects in Foshan to date, with their accumulative capital inputs surpassing $2.5 billion.

They include Toshiba, Sanyo, Panasonic, Honda, Hitachi, Kobelco, Aisin Seiki, Toyota Tsusho, Sumitomo, Itochu and Mitsubishi.

During a meeting last year with Li Yiwei, mayor of Foshan at the time and current municipal Party chief, Toshiba President Norio Sasaki said that Foshan has an outstanding investment climate, and the company is satisfied with its investment in the city.

"Toshiba will seek to invest further in the city in addition to its six existing companies in operation," Sasaki said.

Later on this year, the municipal government will send delegations to other regions for the same purpose. Targeted destinations will include Europe, the United States, Taiwan and Hong Kong.

Foshan acquired more than $3.26 billion worth of contractual foreign capital in 2011, an increase of 48.8 percent from 2010. The city posted a committed investment of $2.15 billion last year, up 9.5 percent from a year ago, according to official statistics.

The city has welcomed more than 4,000 foreign-funded enterprises, including 53 of the world's top 500 companies. The 53 multinational companies have set up 99 projects with a cumulative capital input of more than $7 billion.

And a total of 295 projects involving capital of more than $10 million each have been carried out in the past five years. The aggregate value of their investments reached $12.9 billion.

Industrial giants other than those from Japan have invested in Foshan, including FAW-Volkswagen, Chi Mei Optoelectronics, Invista, Anheuser-Busch InBev and Wal-Mart.

zhanlisheng@chinadaily.com.cn

(China Daily 03/09/2012 page12)