Guide on doing business in Shenzhen
Hotline: 86-755-82143422, Email: tannet-solution@hotmail.com
Shenzhen business guide is a brief introduction to business environment in Shenzhen, including economic overview, industries, policy incentives, etc. Being adjacent to Hong Kong and located at the heart of the Pearl River Delta, Shenzhen is both a hub for international tech industrial development and a manufacturing base which attracts thousands of foreign companies.
City Economic Overview
Shenzhen is a major manufacturing center in China. In the financial sector, large Chinese banks such as Ping An Bank and China Merchants Bank have their headquarters in Shenzhen. It was the first of the Special Economic Zones to be established in China and it showed the most rapid growth. Its output is ranked fourth among the 659 Chinese cities (behind Beijing, Shanghai and Guangzhou). The city was ranked 19th in the 2016 Global Financial Centres Index.
In 2016, Shenzhen's GDP totaled $303.37 billion, its ppp per-capita GDP was $49,185 (unregistered migrant population not counted) as of 2016, on par with developed countries such as Australia and Germany. In the 2017 Global Financial Centres Index, Shenzhen was ranked as having the 22nd most competitive financial center in the world.
High-Tech Industry
Shenzhen's most important economic sector lies in its role as the headquarters for many of China's High-tech companies. Many foreign high-tech companies have their China operations centers located in the Science and Technology Park of the Nanshan District.
Due to its unique status as the first Chinese 'Special Economic Zone', Shenzhen is also an extremely fertile ground for startups, be it by Chinese or foreign entrepreneurs. Shenzhen is also the product development base of the hardware startup accelerator.
Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone
Qianhai, formally known as the Qianhai Shenzhen-Hong Kong Modern Service Industries Cooperation Zone, is "a useful exploration for China to create a new opening up layout with a more open economic system." It is a commercial development in Shenzhen, which also known as Qianhai New District.
According to plans made by the Qianhai administration, as the pilot district for cooperation between mainland China and Hong Kong and innovation in the service industry, Qianhai undertakes four functions:
1. An area that will aim to facilitate innovation in the modern service industry;
2. An area that will aim to become a hub of modern services and modern service development;
3. A pilot area for closer cooperation between mainland China and Hong Kong;
4. A facilitator in the industrial reform and sustainable economic development of the Pearl River Delta.
Taxation policies granted for Qianhai mainly includes:
1. Eligible companies registered in Qianhai are subject to a 15% preferential corporate income tax rate.
2. Eligible professionals who are employed in Qianhai are exempt from personal income tax.
Contact Us
If you have further inquires, please do not hesitate to contact Tannet at anytime, anywhere by simply visiting Tannet’s website english.tannet-group.com, or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143422, or emailing to tannet-solution@hotmail.com. You are also welcome to visit our office situated in 16/F, Taiyangdao Bldg 2020, Dongmen Rd South, Luohu, Shenzhen, China.
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