Guangdong province, China’s manufacturing heartland, has announced new measures to attract foreign investment. On December 1,2017, the Guangdong provincial government issued a report delineating 10 policies to expand the province’s openness to foreign investors and foreign capital. The measures include policies to improve Guangdong’s business environment, promote fair competition between foreign and domestic companies, expand market access, and offer investment incentives.
Measures for Relaxing Foreign Investment
1. Further expand market access, including relaxing ownership limits and/or operation scope in the following industries:
(1) Special vehicle manufacturing;
(2) New energy vehicle manufacturing;
(3) Ship design;
(4) Regional aircraft and general aircraft maintenance;
(5) Human resources service agencies;
(6) International maritime transport companies;
(7) Railway passenger transport companies;
(8) Construction and operation of gas stations;
(9) Internet service and call centers;
(10) Brokerage, banking, securities, futures, and life insurance companies;
2. Strengthen personnel support, including incentives and visa conveniences for high-level foreign talent.
3. Strengthen the protection of intellectual property rights, including by accelerating the construction of the China (Guangdong) Intellectual Property Protection Center.
4. Optimize the environment for attracting foreign investment in key parks, including implementation of administrative streamlining in eligible development zones and other supportive policies.
5. Improve the use of foreign investment guarantee mechanisms, including setting up a coordinated mechanism to coordinate and solve the key problems that prevent investment in Guangdong.
Those measures represent a step forward in boosting Guangdong’s competitiveness in attracting foreign investment. The new measures reflect Guangdong’s continued desire to attract high quality capital-heavy investments.
Actually, some areas in Guangdong have been successful in upgrading their local economies beyond low-value manufacturing. Most notably, Shenzhen has emerged as a hub for innovation and high-tech startups, and also boasts a robust financial sector., and Foshan have also benefited from regional integration and high-tech manufacturing.
Tannet’s has offices in Guangzhou, Shenzhen and Dongguan, as well as associates in Zhuhai, Foshan, Zhongshan and other regions in Greater Bay Area. We are able to help you set up businesses in the above-mentioned cities and other parts of mainland China and Hong Kong.
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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 86-755-82143512, 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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