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brief introduction to guangzhou free brief

Brief Introduction to Guangzhou Free

Brief Introduction to Guangzhou Free- -trade Zone,Nansha New Area,

trade Zone,Nansha New Area, Incorporate

Incorporate

Business

Business Set Up

Set Up Company

Company in GDFTZ (Nansha),

in GDFTZ (Nansha),Corporate Formation

Corporate Formation Company

Company

Registration in GDFTZ (Nansha)

Registration in GDFTZ (Nansha)

Located in the southernmost of Guangzhou, Nansha New District is the city’s only

gateway to the sea and the geographical center of the Great Pearl River Delta

(PRD) region. It is also an important hub for clusters of cities at both banks

of the Pearl River and the country’s south gate open to the rest of the world.

More than 10 cities with strong economic capacity such as Shenzhen, Foshan and

Dongguan and two Special Administrative Regions (SARs), i.e. Hong Kong and Macao,

scatter within this 100-kilometer-radius region. It is 38 sea miles away from

Hong Kong and 41 sea miles from Macao. The geographical proximity to these two

SARs and the support of Guangzhou and the Great PRD region with 60 million

populations contribute to the importance of Nansha New District. Its influence

goes beyond South China and the Pan-Pearl River Delta Region to Southeast Asia.

It enjoys geographical advantages and strategic importance by linking China with

the rest of the world on sea. The New District helps Hong Kong and Macao business

better explore the mainland market and facilitates mainland business to go

international. Moreover, due to its broad hinterland, the New District boasts

huge development potential

nansha new area or gdftz nansha is blessed with

Nansha New Area, or GDFTZ (Nansha), is blessed with the policy advantages of

being a state-level new area, state-level economic and technological development

zone, bonded port area, and new and high-tech development zone. With a sound

industrial foundation, Nansha New Area is one of the country’s three shipbuilding

bases, a national auto and spare parts manufacturing and export base, as well

as a nuclear power equipment manufacturing base in the Pearl River Delta region.

Where scientific research is concerned, the research base of the Guangzhou

Institute of Industry Technology under the Chinese Academy of Sciences located

in Nansha has built a technology innovation platform for numerical-control

equipment technology research and development, and modern logistics industry

planning services; and it has been rated as a state-level technology transfer

demonstration base. Moreover, the Hong Kong University of Science and Technology

and Fok Ying Tung Foundation have jointly established a facility for promoting

the internationalisation of traditional Chinese medicine in Nansha New Area.

GDFTZ (Nansha) will devote great efforts to creating a regulated international

business environment in line with new international practice. It aims to take

the lead in implementing free trade in services with Hong Kong and Macau, building

an international shipping and logistics centre with comprehensive international

trade functions and strong financial innovation ability, as well as developing

into a demonstration base for technology innovation cooperation between

countries and regions along the 21st Century Maritime Silk Road.

GDFTZ (Nansha) comprises of the following Seven zones)

1. International shipping development and cooperation zone

2 financial and commercial development zone

2. Financial and Commercial Development zone

3. Guangdong-Hong Kong-Macau integrated development zone

4. Education and Medical zone

5. Scientific and technological innovation zone

6. Outbound investment service zone

7. Processing Trade Transformation zone

Section1. An international shipping development and cooperation zone, with focus

on developing services including shipping logistics, bonded warehousing,

international transshipment, international trade, bulk commodity transaction,

and auto logistics. The zone will serve as a test bed for the pilot implementation

of reform in international shipping services and customs clearance.

Section 2. A financial and commercial development experimental zone, with

emphasis on developing the headquarters economy, financial services and

commercial services. Efforts will be made to promote Guangdong-Hong Kong-Macau

cooperation in financial services, as well as explore ways to experiment with

renminbi convertibility under the capital account.

section 3 a guangdong hong kong macau integrated

Section 3. A Guangdong-Hong Kong-Macau integrated development experimental zone,

with emphasis on developing information technology, financial back-office

services, commercialisation of technological achievements, and professional

services. Action will be taken to build a Guangdong-Hong Kong-Macau producer

services development base, and to explore new mechanisms for promoting social

management innovations as well as economic integration between the mainland,

Hong Kong and Macau.

Section 4. An international education and medical cooperation experimental zone,

with focus on developing such sectors as education, training, health care and

medical care. The zone will also take the lead in experimenting in-depth opening

up of the education and medical sectors to Hong Kong, Macau and international

players.

Section 5. A Guangdong-Hong Kong-Macau scientific and technological innovation

and cooperation zone, with emphasis on developing technological innovation,

cultural and creative industries, service outsourcing, and the yachting and

cruise liner economy. Efforts will be made to create new modes of cooperation

in scientific and technological R&D between Guangdong, Hong Kong and Macau, set

up a Guangdong-Hong Kong-Macau innovative achievements commercialisation base

and an international scientific and technological innovation service centre.

Section 6. A comprehensive outbound investment service zone, with emphasis on

developing the business services sector, fostering new formats of foreign trade,

and attracting clusters of small and medium-sized enterprise (SME) headquarters.

Steps will be taken to assist Hong Kong and Macau SMEs in tapping the mainland

market as well as give support to mainland SMEs in developing the international

market.

Section 7. A processing trade transformation and upgrade service zone, with focus

on developing producer services such as processing and manufacturing activities,

R&D and incubation, data services, e-commerce, and testing and certification

services. Efforts will be made to build public service platforms to facilitate

the transformation and upgrade of processing trade enterprises, covering

technology R&D, industrial design, intellectual property and other issues.

business environment business environment

Business Environment

Business Environment

Some unique aspects feature in the Nansha New Area. For businesses setting up

and operating within the area, no minimum registered capital will be necessary,

though this is simply an eased and removed restriction for those entering the

market. Issues that arise within the FTZ are to be heard before an FTZ-based

arbitration and resolution center. Land will also be cheaper as prices range

around RMB 1,800 per meter squared.

Corporate income tax is pinned at 15 percent with accompanying E-taxation

services and procedures allowing 24-hour self-service tax ATM locations. Here,

the declaration of tax and purchase invoices takes on a digital concept of

E-invoices, allowing for a smoother and less tedious process. Corporate income

tax will also be eligible for up to 95 percent in rebates of local portion covering

five years onward.

Moreover, immediate VAT refunds on exports and immediate VAT GTP applications

are digitalized. Businesses are able to file their applications online for the

issue of invoices and then can proceed to have them delivered by post OR obtained

through the E-taxation ATMs. Personal income tax will also have a rebate covering

the gap between local and native individual income tax.

Shipping and cargo have an enhanced, sped up process with all incoming cargo

inspected in a specific area. This reduces time by 50 percent, rendering the

initiating formalities to commence before the ship docks at the port instead

of the previous and non-FTZ formalities of only starting once docked. A 24-hour

service is provided and automated to ensure all processing is done swiftly.

objectives objectives

Objectives

Objectives

Further Developing Guangdong-Hong Kong-Macau Stronger links promoting the

already established Mainland and Hong Kong Closer Economic Partnership Agreement

(CEPA) are ongoing targets enabling service, trade and business liberalization.

Hong Kong and Macau investors already enjoy the benefits of this agreement and

have removed barriers when conducting business within China. The Nansha New Area

will build on this with continued promotion to Hong Kong and Macau firms. Having

the choice to utilize the existing partnership arrangement or the FTZ’s

facilitation measures and bonded agreements, Hong Kong firms will have even

greater preferential enticement to do business in the area. Ultimately, the goal

is a deepened and more liberalized co-operation.

This proximity will be of mutual benefit to both the Mainland, Hong Kong and

Macau investors. Cross-border Renminbi business and further developing Hong Kong

as a destination for offshore Renminbi will attract Chinese firms to use this

as a going-out stepping stone. Internationalizing the Renminbi by means of this

process will target Guangdong enterprises to strategically move towards Hong

Kong.

Scientific collaborations, such as international telecommunication channels

geared toward Hong Kong and Macau, and major Hong Kong universities have been

cooperating within the zone. Increased cross-border mobility for qualified

professionals from Hong Kong and Macau will allow the Nansha New Area to continue

to attract foreign talents.

open economic system open economic system

Open Economic System

Open Economic System

Based on previous pilot reforms, the economic system of the Guangdong FTZ and

the Nansha New Area will seek to be operational and fully implemented over a

span of three to five years. Creating advantages on an international scale will

include the establishment of a free trade park with a regulated environment.

Supervision will come in a new form of a market-oriented administration and

management system to increase efficiency and solidify a platform of ‘low entry

threshold, high control standards’. As with other FTZs, the negative list

implemented in the zone will reduce and remove access restrictions on foreign

invested firms, thereby increasing openness and transparency.

Financially, lower entry requirements exist for foreign equity funds doing

business in sectors of investment and fund management and capital settlement.

Multi-currency industrial investment funds and potential issuing of

multi-currency land trust funds are being analyzed on the basis of feasibility

and implementation. Leasing options will also enjoy reforms as the area hopes

to achieve uniform market access requirements for finance lease management and

innovation.

As mentioned before, importing into the area from overseas is much easier, with

some speculation that goods may not need to be checked. Nevertheless,

preferential measures of expediting declaration and reduced fees are in place.

E-commerce as well will allow individuals and firms to make orders with goods

arriving in the zone with the applicable taxation laws levied.

Overall, the Nansha New Area has multiple advantages and a comprehensive set

of policies to support future development – financial innovation as an

international hub; custom clearance convenience that streamlines trade;

cross border e commerce and an expedited

cross-border e-commerce; and an expedited commercial registration process. With

China continuing to experiment and implement Free Trade Zones throughout the

coast, investors and firms will see anincrease in the ease of doing business

in the country. Regardless of the timing of future developments, the Guangdong

FTZ and its accompanying three areas will be pivotal to developing the future

goals of China’s economic and global outlook.

For more information about Guangzhou Free-trade Zone,Nansha New Area, please

visit: http://www.gzns.gov.cn/pub/nszmsyq_en/

An increasing number of domestic and international companies are focusing on

Nansha district, part of the Guangdong Pilot Free Trade Zone, in Guangdong

province, looking for new businesses development opportunities and investments.

It could also attract related business engaged in the selling and leasing of

vessels and insurance to the area, he noted, adding that a shipping financial

center will also be established in the area.

In order to attract such companies to the Nansha New Area, the local

administrative office has formulated a range of supportive policies, including

a shipping industry fund to solve logistics fundraising problems

Improved logistics measures and facilities have helped attract the more than

870 crossborder e-commerce traders that had registered in the area, Among the

traders are a number of domestic e-commerce giants, such as Tmall and JD's e-shop

for international goods, as well as Suning's online store

shipping is just one industry being supported

Shipping is just one industry being supported by and thriving in Nansha New Area,

which has also attracted more than 530 financial companies, including 13 branches

established by China's "Big Four" State-owned banks and other commercial banks.

Enterprises engaged in advanced manufacturing are setting up in the zone,

including Gac Toyota Motor Co Ltd, which is building a factory with a production

capacity of 220,000 units.

A number of leading companies are currently in discussion with the zone's

authorities about establishing operations there, including the China State

Shipbuilding Corporation, Herrenknecht AG, a leading German manufacturer of

tunnel-drilling machines. The eventual aim is to form an industrial cluster of

high-end manufacturing.

Since Guangzhou Free-trade Zone ,Nansha New Area was established , Tommy China

Business Consulting has been focusing on consulting services for our clients to set

up business in Nansha New Area, we offer one stop services for Nansha New Area

company formation.

Please visit: Http://www.tommyconsulting.com

Email: tomlee@tommyconsulting.com, Skype: tomleeli

WhatSapp/Wechat/Cell Phone: +86 18926401128