Despite a struggling global economy, many foreign-invested companies see Shenzhen as a good place for long-term investment in China.

"The Shenzhen government is friendly to business. It has flexible polices that help foreign-invested companies grow," general manager of DuPont's Shenzhen branch, Peng Fakui, told Shenzhen Daily yesterday during an award ceremony at the Wuzhou Guest House.

More than 400 foreign-invested enterprises in Shenzhen received awards from Shenzhen Association of Enterprises with Foreign Investment yesterday. Winners included Walmart, DuPont, Lenovo, Epson and Fuji Xerox.

Although the yuan appreciation and increases in labor costs have had adverse effects on foreign companies, DuPont's business in Shenzhen has grown by more than 10 percent, Peng said.

Walmart China tops the list of foreign-invested enterprises in Shenzhen in terms of business turnover in the past 10 months. The U.S.-based multinational retailer is planning to open more than 100 new stores in China in the next three years, bringing about 18,000 jobs, said Greg Foran, CEO of Walmart China.

Walmart's first store in China was opened in Shenzhen in 1996. It now has nearly 400 stores in more than 140 Chinese cities.

"China is full of opportunities in the retail industry," Foran said, adding that the company will also optimize its procurement offices in China, which will be located in eight Chinese cities including Shenzhen, Beijing, Shanghai, Dalian and Xiamen.

Shenzhen has received a total of US$4.6 billion in foreign investment in the first 10 months of this year, an 8.8 percent increase from the same period last year, according to official statistics. The primary investors are from Hong Kong and the United States.

(Source: Shenzhen Daily)