PR Newswire - Luohu of Shenzhen: A Magnet for Global Investments

SHENZHEN, China, Dec. 12, 2024 /PRNewswire/ -- Saint-Gobain Group, a global leader in lightweight and sustainable construction solutions, reinvested in the Luohu district of Shenzhen this year.

The French industrial giant, listed among the Global Fortune 500 companies, views Luohu as a strategic stronghold for expanding its business into South China and Southeast Asia, said Wang Huan, Chief Business Development Officer of Saint-Gobain Group Asia-Pacific, during a speech in Shenzhen in November.

"As the earliest developed district in Shenzhen, Luohu hosts a significant number of enterprises that align with Saint-Gobain's building materials. It also serves as a crucial link to Hong Kong, playing a significant role in the future development and operation of the northern New Territories of Hong Kong," Wang said.

He also highlighted that Shenzhen, a young city with a history of just 45 years, boasts the best innovation environment in the country and has nurtured numerous technology innovation enterprises, allowing Saint-Gobain to foster a better corporate ecosystem with these companies.

An increasing number of companies, including Saint-Gobain Group, have been choosing Luohu as their investment destination, attracted by its geographic proximity to Hong Kong, strong industrial foundation, and improving business environment.

The district secured a total of 39 high-quality projects at the 2024 Shenzhen Global Investment Promotion Conference, held last week, with more than half of the signed projects coming from Fortune Global 500 companies, China 500 companies, listed firms, and "unicorn" investments. Over 60% of the projects are in cutting-edge sectors such as artificial intelligence, low-altitude aerospace, and life health.

In one of the projects, CCB Investment, one of the five financial asset investment companies in China, signed to found an energy fund in Luohu with China General Nuclear Power Group, specifically focusing on investment in upstream and downstream projects related to CGN's nuclear industry and nuclear power business.

In another project, Chinese private aerospace company LandSpace will set up an aerospace operations center in Luohu. The company is dedicated to building a comprehensive technology complex in the aerospace field, centered around medium to large liquid oxygen methane rockets, aiming to provide high-cost-performance and high-reliability space transportation services to the global market.

Statistics from the district government of Luohu showed that the number of strategic emerging enterprises has increased by over 50% during the past three years. It included 313 specialized and innovative enterprises and 708 national high-tech enterprises. Some of them are hidden champions of the industries such as satellite and chip research.

To better attract investments, the district government introduced the "Luohu Entrepreneur Rights Treasure Box" on the city's special day for entrepreneurs on November 1st.

The services in the box include 137 offerings in 10 categories for enterprises and 26 in six categories for entrepreneurs. Each service is tailored to address the specific needs of businesses and entrepreneurs, reflecting a commitment to meeting their demands effectively.

"Our services for enterprises are heartfelt and services for enterprises are always on the way. Luohu will continue to innovate, making services for enterprises even better," said Fan Defan, Party Chief of Luohu, at the "Entrepreneur Day" event.