Foreign Companies Sees Shenzhen a Great Place for Investment
Even with a sluggish economy, a lot of foreign companies still sees Shenzhen as a great place for a long term investment in China. Most foreigners doing business in Shenzhen say that the flexible policies given to foreign companies have help foreign invested companies grow , thus making the Shenzhen Government business friendly.
400 foreign invested companies in Shenzhen have already received awards from the Shenzhen Association of Enterprises with Foreign Investment. Even with the Yuan appreciating and an increase in labor costs affecting foreign companies with these business grew by 10 percent. Wal-Mart China is on top of the list of foreign invested enterprises in Shenzhen based on business turnover for the past ten months. The US based retailer is planning to open at least 100 stores in China in the next three years bringing 18,000 more jobs to the city.
In the first ten months of this year, the city received US$ 4.6 billion in foreign investment which is an 8.8 increase compared to the same period last year.