EU Becomes The Largest Export Market For Private Enterprises In Quanzhou

Not long ago, Quanzhou City, Fujian Province held an economic work analysis meeting in the first half of the year, which showed that the export pattern of private enterprises in Quanzhou has changed, and the European Union has replaced the United States as the largest export market for private enterprises in Quanzhou. At the same time, in the case of difficulties in attracting investment, the EU has become the largest export market for private enterprises in Quanzhou, Overseas listed private enterprises in Quanzhou have become a new source of investment in Quanzhou. As a new way of attracting investment to Taiwan through Taiwan's local industry associations, it has gradually taken shape. Affected by the U.S. subprime mortgage crisis, Quanzhou Private Enterprises' exports to the United States have declined. In the first five months of this year, Quanzhou Private enterprises exported 319 million US dollars to the United States, an increase of 10.39%, It is 11.4 percentage points lower than the average growth level of the whole city. The downturn of the largest foreign trade export market of Quanzhou Private Enterprises in the past has brought great pressure on Quanzhou's foreign trade export. However, the rapid growth of export volume to EU, ASEAN and other markets together promoted the foreign trade export of Quanzhou Private enterprises, making it maintain a 21.83% growth, reaching 2.683 billion US dollars, The European Union is the biggest contributor to the rapid growth of Quanzhou's private enterprises' exports. In the first five months, Quanzhou's exports to the EU reached 485 million US dollars, an increase of 32.91%, replacing the United States as the primary export market of Quanzhou's private enterprises. Emerging markets such as ASEAN and India also contributed greatly, with exports to ASEAN reaching $201 million, The growth rate was 42.58%. India, Croatia, Chile and other emerging markets showed a growth rate of nearly 30%. Judging from the above data, the export fundamentals of private enterprises in Quanzhou are still good. However, from the perspective of Quanzhou foreign trade and economic department, the existing problems can not be underestimated. Zheng Jinfu, deputy director of Quanzhou foreign economic and Trade Bureau, told reporters that this year's export of foreign trade and economic cooperation will be improved, However, the average export growth rate of private enterprises in Quanzhou is lower than that of key enterprises in Jiangshan, but the average growth rate of key enterprises in Quanzhou is lower than that of key enterprises in Jiangshan, We should pay more attention to the following issues: the policy of labor, land use and tax rebate should be reduced strictly, All these factors make Quanzhou, including Quanzhou, face difficulties in attracting foreign investment. This also makes Quanzhou's trend of attracting foreign capital attract more attention. Some experts believe that Quanzhou's pattern of attracting foreign investment has entered a stage of reconstruction this year, among which the return investment of overseas listed private enterprises has become a new source of growth, A number of overseas listed enterprises such as Anta, hongxingerke, Tebu, zhilaite shoes and DAPAI bags, and a group of private enterprises, such as Xingye leather and Jinba, which have completed the domestic shareholding system reform and intend to be listed in China, have returned home for investment, expanding the source of foreign investment in Quanzhou. Among them, Anta, hongxingerke, Tebu and other three enterprises have returned to invest in five projects, In the first half of the year, 138 enterprises in Quanzhou increased their capital and shares, with a total net increase of 849.46 million US dollars and a net increase of 595.3 million US dollars. The net increase of contractual foreign investment accounted for 55.9% of the total contract foreign investment in the same period, According to Quanzhou foreign economic and Trade Bureau, a large amount of capital increase and share expansion of foreign-invested enterprises shows that with the continuous improvement of Quanzhou's investment environment, foreign-invested enterprises that have settled in Quanzhou are full of confidence in expanding their business scale. In addition, Quanzhou's strategy of attracting foreign investment to Taiwan has also been adjusted, The Taiwan petrochemical zone, located in Quangang District, Quanzhou City, was officially signed. The zone was led by the Taiwan Petrochemical Association to guide its member enterprises to invest in the area, covering the whole industrial chain of the upstream, middle and lower reaches of the petrochemical industry, becoming the first case of Quanzhou undertaking the transfer of Taiwan's entire industry, The overall transfer mode of industrial chain is becoming a new idea for Quanzhou to invest in Taiwan. According to the information from Quanzhou foreign trade and Economic Cooperation Bureau, Quanzhou is preparing to work with Taiwan Electric Power Association to plan "Taiwan electric machinery and Electronics Industrial Park" in the planned Taiwan investment zone. The Taiwan electric power Association will lead the investment promotion and guide its member enterprises to settle in