Guangzhou has been known as a millennial commercial city. Today, it has set up an all-around, broad-field and multi-level opening-up layout. At the end of 2016, the UN released The World Urbanization Prospects and 2016 Chinese Cities’ Sustainable Development Report: Evaluating Ecological Input and Humankind Development. In these two reports, Guangzhou was honored the ultra-large city with the fastest development in the world, and ranked the 1^st place in Human Development Index among Chinese cities. Guangzhou also ranked the top in the Cities of Opportunity 2016 jointly released by PwC and China Development Research Foundation.

 

In addition to “agreeable living environment” and “powerful industrial base”, Guangzhou also boasts the following investment and business advantages.

 

Complete infrastructures

In terms of sea ports, Guangzhou Port achieved cargo throughput of 540 million tons and container throughput of 18.85 million tons in 2016, ranking the 6^th and 7^th in the world respectively. In terms of airport, Baiyun International Airport, as the hub airport of the Belt and Road initiative boosted by the country for joint construction, had passenger throughput of 59.78 million trips in 2016, ranking the 3^rd in China. In terms of railway transport, Guangzhou Railway Hub is one of China’s four major railway hubs. In terms of highways, Guangzhou is one of China’s main highway hubs and one of the cities with most linking roads in China’s expressway network. In terms of information harbor construction, Guangzhou is one of China’s three communication hubs, China’s Internet exchange centers and three Internet international outlets.

 

Complete innovation and startup support systems

Guangdong is home to 66% of the total ordinary universities, 97% of the state key subjects and all the state key laboratories of the province. Guangzhou was approved as National Independent Innovation Demonstration Zone and Comprehensive Innovation Reform Test Core Area. It has more than 120,000 sci-tech innovation enterprises, sci-tech incubators of over 8 million sqm, 44 new-type R&D institutions, and ranks the 1^st in registered trademarks per day in average among sub-provincial cities. Guangzhou Sci-tech City is approved as one of National First Regional Innovation & Startup Bases and houses Guangzhou IPR Court, Guangzhou IPR Transaction Center, National Trademarks and Brands Innovation & Startup (Guangzhou) Base, State Administration for Industry and Commerce Trademark Review and Collaboration (Guangzhou) Center and other institutions and carriers to offer strong support and protection for the innovation and startup efforts of enterprises and individuals.

 

Rich innovation in system

Guangzhou has been approved for the pilot operation of national service trade innovation development, comprehensive reform and development of domestic trade circulation system, comprehensive cross-border E-commerce and national market purchase trade modes to offer great inherent momentum for the system innovation in all fields of the city. Relying on Nansha Free Trade Zone, Guangzhou has been actively exploring and establishing systems and mechanisms matching with conventional international investment trade practices, formed 209 innovation achievements and 85 experience to be repeated and spread in Guangdong province and even in the country. Guangzhou takes the lead in building the market supervision enterprise information and credit platform and preliminarily sets up the new engines for economic growth, transformation and upgrading.

 

Convenient governmental services

Guangzhou is striving to forge a marketized, legalized and internationalized business environment, and improve the convenience of investment trade. To deepen the reform of “authorization, administration and service”, Guangzhou issued the new-edition administration approval registration catalog, reduced 176 issues on administrative approval and registration in 2016. The city also started “one window” integrated services, released business registration restrictions, carried out city-wide service for industrial and commercial registration. It rolled out the reform of business tax to VAT, carried out reduction or exemption for 52 administrative fees and 8 governmental funds, and implemented the policy on reducing the rates of four insurances and the housing funds. In 2016, the city reduced enterprises’ burden valued of over 70 billion yuan. It improved trade convenience level and launched Guangzhou International Trade Single Window 2.0 which integrates 13 functional modules, such as goods declaration, transport vehicle declaration, cross-border E-commerce, information inquiry, manifest declaration, international convention and exhibition, international express mails, logistics status, logistics service, import/export permit, enterprise qualification, payment and settlement, and covers relevant businesses of 21 authorities including customs, inspection and quarantine, border inspection, maritime affairs, foreign exchange, taxation and port services. To reduce enterprises’ burden, enterprises using the Single Window will be exempted from the fees for customs declaration and inspection and quarantine declaration. Guangzhou also comprehensively implemented the pilot operation of exemption of erection, relocation and warehousing costs of foreign trade enterprises which have no problem in inspections.

 

Source: Translated from Invest Guangzhou, Mar. 5, 2017