Henan province, known for its rich cultural heritage, is rapidly emerging as a global business hub. On September 25, 2024, the province hosted the 2024 Cooperation and Exchange Conference between Henan Province and Multinational Corporations, drawing participation from 193 multinational companies.
The conference resulted in 46 investment and trade cooperation projects worth 33.58 billion yuan ($4.78 billion), including nine framework agreements in sectors such as new materials, energy, equipment manufacturing, electronic information, modern food, and cultural tourism. These developments are expected to inject new momentum into Henan’s high-quality development, according to Song Yuzhe, deputy director of the Department of Commerce of Henan Province.
Tesla and Yihai Kerry Highlight Henan's Business Potential
Tesla’s vice president, Tao Lin, highlighted the province's strong consumer base, expressing the company's commitment to expanding its services in Henan. Tesla has already established 11 stores in the region since 2018. Yihai Kerry Arawana Group’s president, Mu Yankui, praised Henan’s resources for grain and food processing, commending the local government’s efficiency in addressing corporate needs.
Economic Growth and Global Partnerships
In 2023, Henan established 465 new foreign-invested enterprises, marking a 41% year-on-year increase. The province is now home to around 3,000 foreign-invested companies, employing 350,000 people. Henan’s 2023 GDP saw a 4.1% rise, reaching 5.91 trillion yuan.