Hubert Xu, president of Guangzhou CDC Group, is elected chairman of the Guangdong Investment Promotion Association. [Photo provided to chinadaily.com.cn]

Amidst fierce competition for investment in today's global economy, an industrial association in Guangdong was founded in April, to boost the local investment climate as well as further the province's opening-up.

Aimed at playing a key role in attracting investment, the association has already signed up 70 members, including industrial heavyweights such as P&G, Danone, Pepsi, Yakult, Carl Zeiss, Shell, Mitsubishi, and Fujitsu.

The body has also enlisted investment service providers such as Guangzhou CDC Group and invest101.com, and investment seekers such as Guangzhou Development District, Sino-Singapore Knowledge City, Tianhe district of Guangzhou, Chancheng district of Foshan, and industrial parks in Heyuan, Yunfu and Meizhou.

"Many of our founding members are leaders involved in either the pillar industries or emerging ones in the province and our association will continue to diversify its membership," said Hubert Xu, chairman of the association and president of Guangzhou CDC Group, an integrated service provider for investors.

"The new organization will do its utmost to bring the competitive investment climate of Guangdong to the foreground, leverage the synergy of the members to lure investors to the province and help improve services for investors with feasible advice, new management models, as well as international practice."

Xu said that the association will become a platform for efficient exchanges among investors, professional service providers, investment promotion departments of the local government, and industrial zones or parks of various levels across the province.

"Guangdong is doing a lot to boost supply-side reform, implement innovation-driven development strategies and establish its new opening-up economic system," Xu said. "Our members are eager to get involved."

Sun Bin, a director of Guangdong Investment Promotion Bureau under the provincial commerce department, pinned great hopes on the contributions of the new association.

"I hope the association will soon grow into a top-notch investment promotion organization in China," Sun said, adding that the bureau will join forces with the association to create a better investment climate in the province as well as other promotional activities.