The Guangdong-Hong Kong-Macao Greater Bay Area and Europe (France) Economic and Trade Cooperation Conference, spearheaded by Guangdong, Hong Kong SAR, and Macao SAR, convened in Paris on May 24th (local time). Over 400 delegates from various sectors of the French business community participated in the event.
Currently, approximately one-third of French enterprises operating in China have opted to establish their presence in Guangdong, including notable names like EDF Energy, Danone, and Sanofi. Garault expressed his view that the GBA stands as the premier destination for foreign firms entering the Chinese market.
According to data released by the Guangdong Sub-Administration of the General Administration of Customs of China, trade between France and Guangdong Province amounted to 24.86 billion RMB in the first quarter of this year, marking an 11.1% increase year-on-year. In early May, both China and France issued a joint declaration pledging to enhance cooperation in global governance concerning artificial intelligence.
The Shenzhen-Hong Kong-Guangzhou science and technology cluster has consistently ranked second in a list published by the World Intellectual Property Organization for the past four years, showcasing its robust innovation ecosystem. Ducrot highlighted the Greater Bay Area as an optimal locale for collaborative projects between France and China, particularly in software and hardware development, electronics, and artificial intelligence, owing to its flourishing tech industry and abundant talent pool. He emphasized the mutually beneficial nature of Franco-Chinese cooperation, foreseeing its positive impact on other nations’ development.
Preliminary figures indicate the conclusion of 36 bilateral investment and trade projects valued at $3.22 billion USD between France (and Europe) and the Greater Bay Area during the conference. Of this sum, France (and Europe) will invest $1.59 billion USD in the GBA, while the GBA will reciprocate with $1.47 billion USD in investments in France (and Europe).
