Kyodo News Service: Capital investments worth more than $5 billion were injected into China's southern Guangdong Province in the last two years, the provincial governor said Thursday. “…the Shell Group also invested $4.3 billion in its petrochemical operation that is to start by the end of year.": Thursday November 17, 2005

Huang Huahua, at the opening ceremony for the International Consultative Conference on the Future Economic Development of Guangdong, said the conference serves as a platform for idea exchanges and business expansion and facilitates Guangdong's understanding of the world, while raising the status of international companies in the province.

"Honda Motor Co. has injected net investment of $300 million for expansion of its manufacturing business and research and development in Guangdong," Huang said. "Britain's British Petroleum group has invested in the province an accumulative $1 billion, DuPont set up its development base here with R&D operations with investment of $100 million, and the Shell Group also invested $4.3 billion in its petrochemical operation that is to start by the end of year."

U.S. retail chain Wal-Mart also opened 13 stores in Guangdong with a 1.2 billion yuan ($148 million) investment.

"In 2004, the chain store has exported $8.03 billion worth of goods manufactured in China, and mainly in Guangdong, to its chain worldwide," Huang said before entering a closed-door session with about 200 representatives from 27 multinational companies.

The conference concludes Friday.

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