Page 74 - 2019 Special Report on the State of Business in South China
P. 74
Port Area and other areas with special custom including 9,639 foreign-invested enterprises, with the
supervision inside of the Pilot Free Trade Zone, actually utilized foreign capital of US$12.85 billion. Reform
entry and exist supervisory services will be carried measures to advance the trade facilitation include
out in line with “first line opening”, “highly efficient
control in the second line”. In Zhuhai’s Hengqin - I n v e s t m e n t f a c i l i t a t i o n : S e t t i n g u p a n
Area, hierarchical management operates according investment management system that is in line with
to the principles “relaxed restriction in the first line, international standards is established. The number of
effective control in the second line, people and goods items in the negative list is reduced to 95, 99% of new
separated and systematic management” stipulated by foreign-invested enterprises are registered through
the State Council; recording and the duration for business registration
approvals is shortened from more than ten working
- Measures for furthering opening-up: The Pilot Free days to a maximum of two working days;
Trade further looses and cancels access restriction for
overseas investors, such as qualification requirements, - Trade facilitation: Establishing a safe and
equity ratio limit and business scope. There are 34 efficient international customs clearance service
measures for opening wider to the whole world in six system is established. The “single window” declaration
fields, namely manufacturing, financial service, maritime for high-level international trade is implemented. The
transport service, commercial trade service, professional cargo declaration rate reaches 99%. A suite of “Internet
service and technology, and cultural service; there are Plus Easy Declaration” reforms is implemented to
28 measures for further opening up to Hong Kong and shorten the average duration required for customs
Macao in six fields, namely financial service, maritime clearance by 42.6%;
transport service, commerce and trade service,
professional service, technology and cultural service, - Financial opening-up and innovation: Building
and social public service; a demonstration window for continued financial
opening-up. By December 2017, a total of 229
- Financial Innovation: Establishing financial enterprises had started cross-border RMB loan
services system catering to service trade liberalization business in the GDFTZ, bringing in a total of 42.9
of commercial trade, tourism, logistics and information billion yuan, and filing 43 RMB Capital Pool.
between Guangdong, Hong Kong and Macao;
On May 4, 2018, the State Council released the Plan
- Personnel Management Innovation: The GDFTZ for Further Promoting the Reform and Opening-up of
gives special policies to elites from Hong Kong, Macao China (Guangdong) Pilot Free Trade Zone (the “Plan”),
and foreign countries, in departure and entry, stay proposing 20 major and 61 minor implementation
and residence in the Mainland, project application, suggestions to deepen the institutional innovation in
innovation and entrepreneurship, evaluation and the GDFTZ.
incentive, service protection and so on. Mutual
recognition of personnel qualifications in service In the future, the GDFTZ will actively seek for greater
industry between Guangdong, Hong Kong and Macao reform autonomy, to grow into a demonstration area
will be promoted by special institutional arrangements; featuring the new open economy system and build a
demonstration area for cooperation in the Guangdong-
- Tax Administration: Tax policies which have been Hong Kong-Macao Greater Bay Area in full alignment
piloted in China (Shanghai) Pilot Free Trade Zone apply with the national strategy Macao. It will focus on
in the GDFTZ in principle. Qianhai Shenzhen-Hong strengthening the cooperation with Hong Kong and
Kong Modern Service Industry Cooperation Zone of Macao in the liberation of service trade, alignment with
Shenzhen, Hengqin New Area of Zhuhai levy 15% rules , complementary industry development, resource
corporate income tax on eligible enterprises. sharing, transportation connectivity and information
exchange under the “One Country, Two Systems” and
During 2015-2017, the GDFTZ constantly deepened CEPA framework. Meanwhile, the restrictions will be
the institutional reform and implemented 385 further eased on access, qualification and business scope
institutional innovations. As of December 2017, a total in the fields of finance, commerce, trade, law, shipping
210,000 new enterprises had settled in the GDFTZ logistics and telecommunications in Hong Kong and
74
supervision inside of the Pilot Free Trade Zone, actually utilized foreign capital of US$12.85 billion. Reform
entry and exist supervisory services will be carried measures to advance the trade facilitation include
out in line with “first line opening”, “highly efficient
control in the second line”. In Zhuhai’s Hengqin - I n v e s t m e n t f a c i l i t a t i o n : S e t t i n g u p a n
Area, hierarchical management operates according investment management system that is in line with
to the principles “relaxed restriction in the first line, international standards is established. The number of
effective control in the second line, people and goods items in the negative list is reduced to 95, 99% of new
separated and systematic management” stipulated by foreign-invested enterprises are registered through
the State Council; recording and the duration for business registration
approvals is shortened from more than ten working
- Measures for furthering opening-up: The Pilot Free days to a maximum of two working days;
Trade further looses and cancels access restriction for
overseas investors, such as qualification requirements, - Trade facilitation: Establishing a safe and
equity ratio limit and business scope. There are 34 efficient international customs clearance service
measures for opening wider to the whole world in six system is established. The “single window” declaration
fields, namely manufacturing, financial service, maritime for high-level international trade is implemented. The
transport service, commercial trade service, professional cargo declaration rate reaches 99%. A suite of “Internet
service and technology, and cultural service; there are Plus Easy Declaration” reforms is implemented to
28 measures for further opening up to Hong Kong and shorten the average duration required for customs
Macao in six fields, namely financial service, maritime clearance by 42.6%;
transport service, commerce and trade service,
professional service, technology and cultural service, - Financial opening-up and innovation: Building
and social public service; a demonstration window for continued financial
opening-up. By December 2017, a total of 229
- Financial Innovation: Establishing financial enterprises had started cross-border RMB loan
services system catering to service trade liberalization business in the GDFTZ, bringing in a total of 42.9
of commercial trade, tourism, logistics and information billion yuan, and filing 43 RMB Capital Pool.
between Guangdong, Hong Kong and Macao;
On May 4, 2018, the State Council released the Plan
- Personnel Management Innovation: The GDFTZ for Further Promoting the Reform and Opening-up of
gives special policies to elites from Hong Kong, Macao China (Guangdong) Pilot Free Trade Zone (the “Plan”),
and foreign countries, in departure and entry, stay proposing 20 major and 61 minor implementation
and residence in the Mainland, project application, suggestions to deepen the institutional innovation in
innovation and entrepreneurship, evaluation and the GDFTZ.
incentive, service protection and so on. Mutual
recognition of personnel qualifications in service In the future, the GDFTZ will actively seek for greater
industry between Guangdong, Hong Kong and Macao reform autonomy, to grow into a demonstration area
will be promoted by special institutional arrangements; featuring the new open economy system and build a
demonstration area for cooperation in the Guangdong-
- Tax Administration: Tax policies which have been Hong Kong-Macao Greater Bay Area in full alignment
piloted in China (Shanghai) Pilot Free Trade Zone apply with the national strategy Macao. It will focus on
in the GDFTZ in principle. Qianhai Shenzhen-Hong strengthening the cooperation with Hong Kong and
Kong Modern Service Industry Cooperation Zone of Macao in the liberation of service trade, alignment with
Shenzhen, Hengqin New Area of Zhuhai levy 15% rules , complementary industry development, resource
corporate income tax on eligible enterprises. sharing, transportation connectivity and information
exchange under the “One Country, Two Systems” and
During 2015-2017, the GDFTZ constantly deepened CEPA framework. Meanwhile, the restrictions will be
the institutional reform and implemented 385 further eased on access, qualification and business scope
institutional innovations. As of December 2017, a total in the fields of finance, commerce, trade, law, shipping
210,000 new enterprises had settled in the GDFTZ logistics and telecommunications in Hong Kong and
74
