Page 48 - 2015_SpecialReport_web
P. 48
5 Special Report on the State of Business in South China
In particular, trade between Guangdong and newly to above 40 percent of the local average salaries by
emerging markets including Latin America, the Middle East
and Africa has increased greatly in recent years. 2015.
• Improve the social insurance system and medical
e Outline of Guangdong’s 12th Five Year Plan, current
2011-2015, includes the following goals: service standards in the province.
• Improve internationalization of education by
• Optimize the industry structure of the province
such that the service industry occupies 48 percent introducing several internationally well-known
of all industries by 2015. In addition, the Plan aims
to increase the ratio of the value added by modern schools to Guangzhou, Shenzhen, Zhuhai, Dong-
service industries to 60 percent of value added for the
entire service industry. e key modern service indus- guan, Foshan and other cities to jointly establish
tries to be promoted are nance and insurance, mod-
ern logistics, information service, science and tech- higher education institutions.
nology service, business exhibition and headquarters • Deepen cooperation with Hong Kong and Macau
economy, among others. In addition, newly emerg-
ing service industries such as creative industries, ser- under the CEPA. In nance, e orts involve build-
vice outsourcing, human resources services and high ing a nancial cooperation hub with Hong Kong
technology services will be actively promoted. in the lead and PRD cities providing support with
their own nancial resources and services. To further
• Signi cantly improve innovative capacity, and be- enhance services industry cooperation and growth
come an important innovation center in the Asia- between Hong Kong and Mainland China, the Chi-
Paci c region by 2015. In this regard, the Plan aims nese central government and the Hong Kong Special
to introduce a great number of high-level technologi- Administrative Region government signed the Tenth
cal innovative talents from abroad. Supplement to the Mainland and Hong Kong Closer
Economic Partnership Arrangement (CEPA) on Au-
• Transform the PRD into a domestic as well as gust 29 and will take e ect in January 2014.
international consumer service center with a • Internationalize the province’s economy and op-
great number of trend-setting products and with timize the structure of FDI utilization. Foreign
strengthened supervision of both quality and investment is encouraged in high-end manufactur-
prices of the products in order to better protect ing industries, high- and new-technology industries,
consumers’ interests. modern service industries, new energy and energy-
saving and environmental protection industries. e
• Promote integration of PRD’s economy and im- key focus will be on attracting investment from Glob-
prove its competitiveness. is includes integrating al Fortune 500 companies and leading enterprises in
the transportation systems, infrastructures, urban various industries, and strengthening cooperation
and rural planning, industry layout, environmental with developed countries such as the U.S., Japan and
protection and public services of the region. European countries in the areas of economy, trading,
technology and culture. Foreign investors are also en-
• Strengthen environmental protection by strength- couraged to establish venture capital enterprises, pri-
ening water pollution control, improving air qual- vate equity investment funds and invest in enterprises
ity and improving the standard of safe disposal within the province.
and treatment of solid wastes. • Establish proper commercial dispute resolution
mechanisms and improve legal systems to create
• Promote low-carbon development in the province
and improve the system and mechanism for con- a fair and orderly market competition environ-
trolling emission of greenhouse gases.
ment conducive to the internationalization of the
• Optimize high-e ciency information network
system. e Plan aims to achieve the standards of a economy.
mid-level developed country in terms of the infor-
mation levels of the entire province by 2015. is Spotlight on Shenzhen Government Innovation
includes reaching an internet penetration rate of 70 Shenzhen’s government has taken the lead on a number of
percent by 2015.
new initiatives to become the national leader in innovation
• Adjust income inequality by expanding the ratio and private enterprise growth. e city has experienced
of people with mid-level incomes and raising the rapid private economic growth, spawning about 450,000
minimum wages in the various cities in the PRD private companies, including international behemoths such
as Huawei Technologies Co Ltd, Tencent Holdings Ltd,
48 China Vanke Co Ltd and BYD. Available incentives include a
recent VAT and business tax exemption policy for small and
In particular, trade between Guangdong and newly to above 40 percent of the local average salaries by
emerging markets including Latin America, the Middle East
and Africa has increased greatly in recent years. 2015.
• Improve the social insurance system and medical
e Outline of Guangdong’s 12th Five Year Plan, current
2011-2015, includes the following goals: service standards in the province.
• Improve internationalization of education by
• Optimize the industry structure of the province
such that the service industry occupies 48 percent introducing several internationally well-known
of all industries by 2015. In addition, the Plan aims
to increase the ratio of the value added by modern schools to Guangzhou, Shenzhen, Zhuhai, Dong-
service industries to 60 percent of value added for the
entire service industry. e key modern service indus- guan, Foshan and other cities to jointly establish
tries to be promoted are nance and insurance, mod-
ern logistics, information service, science and tech- higher education institutions.
nology service, business exhibition and headquarters • Deepen cooperation with Hong Kong and Macau
economy, among others. In addition, newly emerg-
ing service industries such as creative industries, ser- under the CEPA. In nance, e orts involve build-
vice outsourcing, human resources services and high ing a nancial cooperation hub with Hong Kong
technology services will be actively promoted. in the lead and PRD cities providing support with
their own nancial resources and services. To further
• Signi cantly improve innovative capacity, and be- enhance services industry cooperation and growth
come an important innovation center in the Asia- between Hong Kong and Mainland China, the Chi-
Paci c region by 2015. In this regard, the Plan aims nese central government and the Hong Kong Special
to introduce a great number of high-level technologi- Administrative Region government signed the Tenth
cal innovative talents from abroad. Supplement to the Mainland and Hong Kong Closer
Economic Partnership Arrangement (CEPA) on Au-
• Transform the PRD into a domestic as well as gust 29 and will take e ect in January 2014.
international consumer service center with a • Internationalize the province’s economy and op-
great number of trend-setting products and with timize the structure of FDI utilization. Foreign
strengthened supervision of both quality and investment is encouraged in high-end manufactur-
prices of the products in order to better protect ing industries, high- and new-technology industries,
consumers’ interests. modern service industries, new energy and energy-
saving and environmental protection industries. e
• Promote integration of PRD’s economy and im- key focus will be on attracting investment from Glob-
prove its competitiveness. is includes integrating al Fortune 500 companies and leading enterprises in
the transportation systems, infrastructures, urban various industries, and strengthening cooperation
and rural planning, industry layout, environmental with developed countries such as the U.S., Japan and
protection and public services of the region. European countries in the areas of economy, trading,
technology and culture. Foreign investors are also en-
• Strengthen environmental protection by strength- couraged to establish venture capital enterprises, pri-
ening water pollution control, improving air qual- vate equity investment funds and invest in enterprises
ity and improving the standard of safe disposal within the province.
and treatment of solid wastes. • Establish proper commercial dispute resolution
mechanisms and improve legal systems to create
• Promote low-carbon development in the province
and improve the system and mechanism for con- a fair and orderly market competition environ-
trolling emission of greenhouse gases.
ment conducive to the internationalization of the
• Optimize high-e ciency information network
system. e Plan aims to achieve the standards of a economy.
mid-level developed country in terms of the infor-
mation levels of the entire province by 2015. is Spotlight on Shenzhen Government Innovation
includes reaching an internet penetration rate of 70 Shenzhen’s government has taken the lead on a number of
percent by 2015.
new initiatives to become the national leader in innovation
• Adjust income inequality by expanding the ratio and private enterprise growth. e city has experienced
of people with mid-level incomes and raising the rapid private economic growth, spawning about 450,000
minimum wages in the various cities in the PRD private companies, including international behemoths such
as Huawei Technologies Co Ltd, Tencent Holdings Ltd,
48 China Vanke Co Ltd and BYD. Available incentives include a
recent VAT and business tax exemption policy for small and
