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5 White Paper on the Business Environment in China
• Nevertheless, Guangdong province was still ranked This includes reaching an internet penetration rate of
tops for both export and import values nation wide. 70 percent by 2015.
• Adjust income inequality by expanding the ratio
In particular, trade between Guangdong and newly of people with mid-level incomes and raising the
emerging markets including Latin America, the Middle East minimum wages in the various cities in the PRD
and Africa has increased greatly in recent years. to above 40 percent of the local average salaries by
2015.
e Outline of Guangdong’s 12th Five Year Plan, current • Improve the social insurance system and medical
2011-2015, includes the following goals: service standards in the province.
• Improve internationalization of education by
• Optimize the industry structure of the province introducing several internationally well-known
such that the service industry occupies 48 percent schools to Guangzhou, Shenzhen, Zhuhai,
of all industries by 2015. In addition, the Plan aims Dongguan, Foshan and other cities to jointly
to increase the ratio of the value added by modern establish higher education institutions.
service industries to 60 percent of value added for • Deepen cooperation with Hong Kong and Macau
the entire service industry. The key modern service under the CEPA. In finance, efforts involve building
industries to be promoted are finance and insurance, a financial cooperation hub with Hong Kong in the
modern logistics, information service, science lead and PRD cities providing support with their own
and technology service, business exhibition and financial resources and services. To further enhance
headquarters economy, among others. In addition, services industry cooperation and growth between
newly emerging service industries such as creative Hong Kong and Mainland China, the Chinese
industries, service outsourcing, human resources central government and the Hong Kong Special
services and high technology services will be actively Administrative Region government signed the Tenth
promoted. Supplement to the Mainland and Hong Kong Closer
Economic Partnership Arrangement (CEPA) on
• Significantly improve innovative capacity, and August 29 and will take effect in January 2014.
become an important innovation center in the • Internationalize the province’s economy and
Asia-Pacific region by 2015. In this regard, the optimize the structure of FDI utilization. Foreign
Plan aims to introduce a great number of high-level investment is encouraged in high-end manufacturing
technological innovative talents from abroad. industries, high- and new-technology industries,
modern service industries, new energy and energy-
• Transform the PRD into a domestic as well as saving and environmental protection industries.
international consumer service center with a The key focus will be on attracting investment
great number of trend-setting products and with from Global Fortune 500 companies and leading
strengthened supervision of both quality and enterprises in various industries, and strengthening
prices of the products in order to better protect cooperation with developed countries such as the
consumers’ interests. U.S., Japan and European countries in the areas of
economy, trading, technology and culture. Foreign
• Promote integration of PRD’s economy investors are also encouraged to establish venture
and improve its competitiveness. This capital enterprises, private equity investment funds
includes integrating the transportation systems, and invest in enterprises within the province.
infrastructures, urban and rural planning, industry • Establish proper commercial dispute resolution
layout, environmental protection and public services mechanisms and improve legal systems to create a
of the region. fair and orderly market competition environment
conducive to the internationalization of the
• Strengthen environmental protection by economy.
strengthening water pollution control, improving
air quality and improving the standard of safe Spotlight on Shenzhen Government Innovation
disposal and treatment of solid wastes. Shenzhen’s government has taken the lead on a number of
• Promote low-carbon development in the province new initiatives to become the national leader in innovation
and improve the system and mechanism for and private enterprise growth. e city has experienced
controlling emission of greenhouse gases.
• Optimize high-efficiency information network
system. The Plan aims to achieve the standards
of a mid-level developed country in terms of the
information levels of the entire province by 2015.
240
• Nevertheless, Guangdong province was still ranked This includes reaching an internet penetration rate of
tops for both export and import values nation wide. 70 percent by 2015.
• Adjust income inequality by expanding the ratio
In particular, trade between Guangdong and newly of people with mid-level incomes and raising the
emerging markets including Latin America, the Middle East minimum wages in the various cities in the PRD
and Africa has increased greatly in recent years. to above 40 percent of the local average salaries by
2015.
e Outline of Guangdong’s 12th Five Year Plan, current • Improve the social insurance system and medical
2011-2015, includes the following goals: service standards in the province.
• Improve internationalization of education by
• Optimize the industry structure of the province introducing several internationally well-known
such that the service industry occupies 48 percent schools to Guangzhou, Shenzhen, Zhuhai,
of all industries by 2015. In addition, the Plan aims Dongguan, Foshan and other cities to jointly
to increase the ratio of the value added by modern establish higher education institutions.
service industries to 60 percent of value added for • Deepen cooperation with Hong Kong and Macau
the entire service industry. The key modern service under the CEPA. In finance, efforts involve building
industries to be promoted are finance and insurance, a financial cooperation hub with Hong Kong in the
modern logistics, information service, science lead and PRD cities providing support with their own
and technology service, business exhibition and financial resources and services. To further enhance
headquarters economy, among others. In addition, services industry cooperation and growth between
newly emerging service industries such as creative Hong Kong and Mainland China, the Chinese
industries, service outsourcing, human resources central government and the Hong Kong Special
services and high technology services will be actively Administrative Region government signed the Tenth
promoted. Supplement to the Mainland and Hong Kong Closer
Economic Partnership Arrangement (CEPA) on
• Significantly improve innovative capacity, and August 29 and will take effect in January 2014.
become an important innovation center in the • Internationalize the province’s economy and
Asia-Pacific region by 2015. In this regard, the optimize the structure of FDI utilization. Foreign
Plan aims to introduce a great number of high-level investment is encouraged in high-end manufacturing
technological innovative talents from abroad. industries, high- and new-technology industries,
modern service industries, new energy and energy-
• Transform the PRD into a domestic as well as saving and environmental protection industries.
international consumer service center with a The key focus will be on attracting investment
great number of trend-setting products and with from Global Fortune 500 companies and leading
strengthened supervision of both quality and enterprises in various industries, and strengthening
prices of the products in order to better protect cooperation with developed countries such as the
consumers’ interests. U.S., Japan and European countries in the areas of
economy, trading, technology and culture. Foreign
• Promote integration of PRD’s economy investors are also encouraged to establish venture
and improve its competitiveness. This capital enterprises, private equity investment funds
includes integrating the transportation systems, and invest in enterprises within the province.
infrastructures, urban and rural planning, industry • Establish proper commercial dispute resolution
layout, environmental protection and public services mechanisms and improve legal systems to create a
of the region. fair and orderly market competition environment
conducive to the internationalization of the
• Strengthen environmental protection by economy.
strengthening water pollution control, improving
air quality and improving the standard of safe Spotlight on Shenzhen Government Innovation
disposal and treatment of solid wastes. Shenzhen’s government has taken the lead on a number of
• Promote low-carbon development in the province new initiatives to become the national leader in innovation
and improve the system and mechanism for and private enterprise growth. e city has experienced
controlling emission of greenhouse gases.
• Optimize high-efficiency information network
system. The Plan aims to achieve the standards
of a mid-level developed country in terms of the
information levels of the entire province by 2015.
240
