Page 532 - 2021 White Paper
P. 532
1 White Paper on the Business Environment in China
- Trade facilitation: At Guangzhou’s Nansha Modern Service Industry Cooperation Zone of
Bonded Port area, Shenzhen’s Qianhai Bay Bonded Shenzhen and the Hengqin New Area of Zhuhai
Port area and other areas with special customs levy 15% corporate income tax for eligible
supervision inside the Pilot Free Trade Zone, enterprises.
entry and supervisory services will be carried out
in line with the “first line opening” and “highly Despite the impact of COVID-19 this year,
efficient controls in the second line”. In Zhuhai’s the Guangdong Pilot Free Trade Zone has made
Hengqin area, hierarchical management operates remarkable achievements. From January to
according to the principles of “relaxed restriction September, 22,000 new enterprises were set up,
in the first line, effective control in the second including 2,320 foreign-funded enterprises. Actual
line, people and goods separated, and systematic utilization of foreign investments amounted to
management” stipulated by the State Council. US$5.34 billion; tax revenue reached 81.07 billion
RMB, increased by 27.3%, and 404 investment
- Measures for furthering opening-up: projects from the Global Top 500 companies have
The Pilot Free Trade Zone further loosens and been introduced since its establishment. The three
eliminates access restrictions for overseas pilot free trade zones, taking advantage of their
investors, such as qualification requirements, pioneering efforts in reform and exploration, have
equity ratio limits and business scope. There formed a modern industrial system with distinctive
are 34 global opening-up measures in 6 fields, features and strong competitiveness, and achieved
namely manufacturing, financial services, fruitful results in institutional innovation and
maritime transport services, commercial trade economic development.
services, professional services and technology,
and cultural services. There are 28 measures for In the future, the Guangdong Pilot Free Trade
further opening up to Hong Kong and Macau Zone will continue to implement the “Regulations
in 6 fields, namely financial services, maritime on Improving the Business Environment” as the
transport services, commerce and trade services, general framework, actively foster a market-
professional services, technology and cultural oriented and law-based international business
services, and social public services. environment and strive to build an institutional
system that is in line with international rules and
- Financial Innovation: Establishing ranks among the top in the world in terms of
financial services systems catering to service business environment.
trade liberalization of commercial trade, tourism,
logistics and information between Guangdong, Nansha Area of Guangzhou
Hong Kong and Macau.
On 21 April 2015, the Nansha Area of
- Personnel Management Innovation: Guangzhou was officially established. The area
The GDFTZ provides special policies for elites focuses on: (i) taking advantage of its location in
from Hong Kong, Macau and foreign countries, the geographic and geometric center of the Pearl
in departure and entry, stay and residence in River Delta and the rich local port resources; (ii)
Mainland China, project application, innovation connecting Hong Kong, Macau and Mainland
and entrepreneurship, evaluation and China, and focusing on the development
incentivization, service protection, etc. Mutual of shipping logistics, international finance,
recognition of personnel qualifications in the international commerce, technological innovation,
service industry between Guangdong, Hong marine economy and high-end manufacturing;
Kong and Macau will be promoted by special (iii) constructing new industrial hubs led by
institutional arrangements. productive services and a globally advanced
comprehensive service hub; and (iv) building a
- Tax Administration: Tax policies, which Guangdong-Hong Kong-Macau comprehensive
have been piloted in Mainland China’s (Shanghai) cooperation demonstration zone.
Pilot Free Trade Zone, are applied in principle to
the GDFTZ. The Qianhai Shenzhen-Hong Kong
532
- Trade facilitation: At Guangzhou’s Nansha Modern Service Industry Cooperation Zone of
Bonded Port area, Shenzhen’s Qianhai Bay Bonded Shenzhen and the Hengqin New Area of Zhuhai
Port area and other areas with special customs levy 15% corporate income tax for eligible
supervision inside the Pilot Free Trade Zone, enterprises.
entry and supervisory services will be carried out
in line with the “first line opening” and “highly Despite the impact of COVID-19 this year,
efficient controls in the second line”. In Zhuhai’s the Guangdong Pilot Free Trade Zone has made
Hengqin area, hierarchical management operates remarkable achievements. From January to
according to the principles of “relaxed restriction September, 22,000 new enterprises were set up,
in the first line, effective control in the second including 2,320 foreign-funded enterprises. Actual
line, people and goods separated, and systematic utilization of foreign investments amounted to
management” stipulated by the State Council. US$5.34 billion; tax revenue reached 81.07 billion
RMB, increased by 27.3%, and 404 investment
- Measures for furthering opening-up: projects from the Global Top 500 companies have
The Pilot Free Trade Zone further loosens and been introduced since its establishment. The three
eliminates access restrictions for overseas pilot free trade zones, taking advantage of their
investors, such as qualification requirements, pioneering efforts in reform and exploration, have
equity ratio limits and business scope. There formed a modern industrial system with distinctive
are 34 global opening-up measures in 6 fields, features and strong competitiveness, and achieved
namely manufacturing, financial services, fruitful results in institutional innovation and
maritime transport services, commercial trade economic development.
services, professional services and technology,
and cultural services. There are 28 measures for In the future, the Guangdong Pilot Free Trade
further opening up to Hong Kong and Macau Zone will continue to implement the “Regulations
in 6 fields, namely financial services, maritime on Improving the Business Environment” as the
transport services, commerce and trade services, general framework, actively foster a market-
professional services, technology and cultural oriented and law-based international business
services, and social public services. environment and strive to build an institutional
system that is in line with international rules and
- Financial Innovation: Establishing ranks among the top in the world in terms of
financial services systems catering to service business environment.
trade liberalization of commercial trade, tourism,
logistics and information between Guangdong, Nansha Area of Guangzhou
Hong Kong and Macau.
On 21 April 2015, the Nansha Area of
- Personnel Management Innovation: Guangzhou was officially established. The area
The GDFTZ provides special policies for elites focuses on: (i) taking advantage of its location in
from Hong Kong, Macau and foreign countries, the geographic and geometric center of the Pearl
in departure and entry, stay and residence in River Delta and the rich local port resources; (ii)
Mainland China, project application, innovation connecting Hong Kong, Macau and Mainland
and entrepreneurship, evaluation and China, and focusing on the development
incentivization, service protection, etc. Mutual of shipping logistics, international finance,
recognition of personnel qualifications in the international commerce, technological innovation,
service industry between Guangdong, Hong marine economy and high-end manufacturing;
Kong and Macau will be promoted by special (iii) constructing new industrial hubs led by
institutional arrangements. productive services and a globally advanced
comprehensive service hub; and (iv) building a
- Tax Administration: Tax policies, which Guangdong-Hong Kong-Macau comprehensive
have been piloted in Mainland China’s (Shanghai) cooperation demonstration zone.
Pilot Free Trade Zone, are applied in principle to
the GDFTZ. The Qianhai Shenzhen-Hong Kong
532
