Page 432 - 2020 White Paper on the Business Environment in China
P. 432
0 White Paper on the Business Environment in China
promoting international analysis allocation centers, financial services, maritime transport services,
and starting trial operation of small-volume cargo commercial trade services, professional services
business as soon as possible. and technology, and cultural services. There are
28 measures for further opening up to Hong Kong
Special Economic Zones and Macau in six fields, namely financial services,
maritime transport services, commerce and trade
China (Guangdong) Pilot Free Trade Zone services, professional services, technology and
cultural services, and social public services.
The GDFTZ was formally approved by the State
Council and established on December 31, 2014. - Financial Innovation: Establishing financial
The implementation scope for the GDFTZ is set at services systems catering to service trade
116.2 square kilometers and covers three areas: liberalization of commercial trade, tourism,
(i) the Nansha area of Guangzhou, a 60 square logistics and information between Guangdong,
kilometer district (including 7.06 square kilometers Hong Kong and Macau.
of Guangzhou’s Nansha Bonded Port Area); (ii) the
Qianhai & Shekou areas of Shenzhen, a 28.2 square - Personnel Management Innovation: The GDFTZ
kilometer district (including 3.71 square kilometers of provides special policies for elites from Hong
Shenzhen’s Qianhai Bay Bonded Port Area); and (iii) Kong, Macau and foreign countries, in departure
the Hengqin area of Zhuhai, a 28 square kilometer and entry, stay and residence in Mainland
district, which was officially launched in April 2015. China, project application, innovation and
entrepreneurship, evaluation and incentivization,
To advance the facilitation of investment and trade, service protection, etc. Mutual recognition of
the GDFTZ has implemented a series of innovative personnel qualifications in the service industry
policies from the following six aspects: between Guangdong, Hong Kong and Macau will
be promoted by special institutional arrangements.
- Investment facilitation: Pre-establishment of a
national treatment and negative list management - Tax Administration: Tax policies, which have
mode will be implemented for overseas investment. been piloted in Mainland China’s (Shanghai) Pilot
For fields that fall outside the negative lists, foreign Free Trade Zone, are applied in principle to the
investment projects will be filed. GDFTZ. The Qianhai Shenzhen-Hong Kong Modern
Service Industry Cooperation Zone of Shenzhen
- Trade facilitation: At Guangzhou’s Nansha and the Hengqin New Area of Zhuhai levy 15%
Bonded Port area, Shenzhen’s Qianhai Bay Bonded corporate income tax for eligible enterprises.
Port area and other areas with special customs
supervision inside the Pilot Free Trade Zone, As of April 2019, the GDFTZ has made
entry and supervisory services will be carried out substantial progress. At present, there are more
in line with the “first line opening” and “highly than 260,000 newly established enterprises. The
efficient controls in the second line”. In Zhuhai’s total value of imports and exports in 2016 was
Hengqin area, hierarchical management operates Rmb902.7 billion, and actual use of foreign capital
according to the principles of “relaxed restriction amounted to Rmb5.715 billion. From January
in the first line, effective control in the second to August 2019, the total value of imports and
line, people and goods separated, and systematic exports exceeded Rmb700 billion, achieving
management” stipulated by the State Council. double-digit growth. Since the establishment of
the GDFTZ, the actual use of foreign investment in
- Measures for furthering opening-up: The Pilot the zone has grown by more than 30% annually,
Free Trade Zone further loosens and eliminates making it the fastest growing region in the
access restriction for overseas investors, such province to attract foreign investment.
as qualification requirements, equity ratio limits
and business scope. There are 34 global opening- In the future, the GDFTZ will actively seek
up measures in six fields, namely manufacturing, for greater reform and autonomy, to grow into
a demonstration area featuring the new open
432
promoting international analysis allocation centers, financial services, maritime transport services,
and starting trial operation of small-volume cargo commercial trade services, professional services
business as soon as possible. and technology, and cultural services. There are
28 measures for further opening up to Hong Kong
Special Economic Zones and Macau in six fields, namely financial services,
maritime transport services, commerce and trade
China (Guangdong) Pilot Free Trade Zone services, professional services, technology and
cultural services, and social public services.
The GDFTZ was formally approved by the State
Council and established on December 31, 2014. - Financial Innovation: Establishing financial
The implementation scope for the GDFTZ is set at services systems catering to service trade
116.2 square kilometers and covers three areas: liberalization of commercial trade, tourism,
(i) the Nansha area of Guangzhou, a 60 square logistics and information between Guangdong,
kilometer district (including 7.06 square kilometers Hong Kong and Macau.
of Guangzhou’s Nansha Bonded Port Area); (ii) the
Qianhai & Shekou areas of Shenzhen, a 28.2 square - Personnel Management Innovation: The GDFTZ
kilometer district (including 3.71 square kilometers of provides special policies for elites from Hong
Shenzhen’s Qianhai Bay Bonded Port Area); and (iii) Kong, Macau and foreign countries, in departure
the Hengqin area of Zhuhai, a 28 square kilometer and entry, stay and residence in Mainland
district, which was officially launched in April 2015. China, project application, innovation and
entrepreneurship, evaluation and incentivization,
To advance the facilitation of investment and trade, service protection, etc. Mutual recognition of
the GDFTZ has implemented a series of innovative personnel qualifications in the service industry
policies from the following six aspects: between Guangdong, Hong Kong and Macau will
be promoted by special institutional arrangements.
- Investment facilitation: Pre-establishment of a
national treatment and negative list management - Tax Administration: Tax policies, which have
mode will be implemented for overseas investment. been piloted in Mainland China’s (Shanghai) Pilot
For fields that fall outside the negative lists, foreign Free Trade Zone, are applied in principle to the
investment projects will be filed. GDFTZ. The Qianhai Shenzhen-Hong Kong Modern
Service Industry Cooperation Zone of Shenzhen
- Trade facilitation: At Guangzhou’s Nansha and the Hengqin New Area of Zhuhai levy 15%
Bonded Port area, Shenzhen’s Qianhai Bay Bonded corporate income tax for eligible enterprises.
Port area and other areas with special customs
supervision inside the Pilot Free Trade Zone, As of April 2019, the GDFTZ has made
entry and supervisory services will be carried out substantial progress. At present, there are more
in line with the “first line opening” and “highly than 260,000 newly established enterprises. The
efficient controls in the second line”. In Zhuhai’s total value of imports and exports in 2016 was
Hengqin area, hierarchical management operates Rmb902.7 billion, and actual use of foreign capital
according to the principles of “relaxed restriction amounted to Rmb5.715 billion. From January
in the first line, effective control in the second to August 2019, the total value of imports and
line, people and goods separated, and systematic exports exceeded Rmb700 billion, achieving
management” stipulated by the State Council. double-digit growth. Since the establishment of
the GDFTZ, the actual use of foreign investment in
- Measures for furthering opening-up: The Pilot the zone has grown by more than 30% annually,
Free Trade Zone further loosens and eliminates making it the fastest growing region in the
access restriction for overseas investors, such province to attract foreign investment.
as qualification requirements, equity ratio limits
and business scope. There are 34 global opening- In the future, the GDFTZ will actively seek
up measures in six fields, namely manufacturing, for greater reform and autonomy, to grow into
a demonstration area featuring the new open
432
