18 initiative measures for foreign-invested enterprises in Guangdong

15:27, November 24, 2010      

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The Administration for Industry and Commerce of Guangdong Province held a press conference on November 23, and Feng Xiangyong, Deputy Director of the Administration, introduced the latest development of foreign-invested enterprises (FIE) in Guangdong Province and services of the Administration for Industry and Commerce towards FIEs to Chinese and foreign press. BBC, China National Radio, Radio Guangdong, Guangzhou TV and other media home and abroad attended the conference.

After developing for more than 30 years, the total number of FIEs in Guangdong ranks first in China, reaching up to 92,806 by the end of October, 2010, with an aggregate investment of more than $415 B. In addition, the development of FIEs in Guangzhou has the following features:

The total number of FIEs keeps increasing;

The newly increased foreign capital is rising again;

The scales of FIEs are enlarging year by year;

The foreign investment are transferring to service industry gradually; and

The investment resources are mainly from Hong Kong, Macao and Taiwan, which take up more than 60 percent of the total,

In recent years, as both a service department and a government agency on the certificate for enhancing the development of FIEs, Administration for Industry and Commerce has been creating a free and orderly policy environment for FIEs by making full use of its advantages in location and policy.

According to Feng, the administration has done its best to promote the healthy development of FIEs by improving the service efficiency of the administration, constructing convenient and efficient service system, standardising supervision enforcement and maintaining a just and fair market order.

The administration has taken 18 initiative measures to improve the standard of service for FIEs, which mainly focus on the following aspects:

To further soften the terms on market access conditions to encourage FIEs to increase investment;

To give support to FIEs to accelerate for their development, and to optimise the structure of foreign capital used;

To simplify registration formalities of FIEs, and to ameliorate the service system of registration; and

To expand the scope of services, and to improve the service capability for the development of FIEs.

Source: GAGOC


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