Guangzhou Private Science and Technology Park. [Photo/southcn.com]
Guangzhou Private Science and Technology Park was jointly funded and built by the Guangdong Science and Technology Department, Guangzhou Science and Technology Bureau and Guangzhou Baiyun District People's Government in 1995, with approval from the Ministry of Science and Technology.
With an area of 1,223 mu (81.5 hectares), the park is part of the "One Zone, Five Parks” in the Guangzhou High-tech Development Zone. As a national science and technology park, it enjoys national preferential policies provided to high-tech development zones.
The park is situated in the middle of Guangzhou Baiyun district, surrounded by green hills and blue waters. Convenient transportation makes it easily accessible from both central Guangzhou, located 15 kilometers away, and Guangzhou Baiyun Airport, located just six kilometers away.
The park consists of one core region located in Taihe town and covers an area of 7.15 square kilometers. It includes four industrial parks - Shenshan Rail Transit Equipment Industrial Park, Baiyun Industrial Park, Baiyun Electrical Supplies Park and Home Supplies Industrial Park.
A high-tech industry cluster has begun to take shape in the park, which has become Guangzhou's private business demonstration base in the realm of science and technology. There are over 60 hi-tech enterprises in the park. More than 90 percent of the companies in the park are privately-owned and had a combined turnover of 46.6 billion yuan ($7.4 billion) in 2016, up 9.0 percent year on year. The gross output value in the park stood at 42 billion yuan, up 10.2 percent year on year, with 1.2 billion yuan in taxes going toward the local economy.
The core region of Guangzhou Private Science and Technology Park. [Photo/people.com.cn]
To facilitate people who want to invest and set up business in Guangzhou Private Science and Technology Park, here is an introduction of Types of business presence in China:
Before starting up a business in China, you have to know what are the options. Foreign Investors generally establish a business presence in China in one of five modes: Wholly Foreign Owned Enterprise(WFOE); Representative Office; Foreign Invested Partnership Enterprises (FIPE); Joint Venture and Hong Kong Holding Company.
Wholly Foreign OwnedEnterprise (WFOE) is a Limited liability company wholly owned by the foreign investor. WFOE requires no registered capital and it's liability of equity , can generate income, pay tax in China and it's profit could be repatriate back to investor's home country. Any enterprise in China which is 100 percent owned by a foreign company or companies can be called as WFOE.
Representative Office (RO) is aLiaison Office of it's parent company. It requires no registered capital. It's activities would be: product or service promotion, market research of it's parent company's business, Quality Control liaison office etc in China. RO generally is prohibited to generate any revenue nor generating contracts with local businesses in China.
Joint Venture (JV) is a Limitedliability company formed between Chinese investor and Foreign investor. The parties agree to create a entity by both contributing equity, and they then share in the revenues, expenses, and control of the enterprise. JV usually been used by foreign investor to engage the so called restricted in areas such like: Education, Mining, Hospital etc.
Since March 1, 2010: Measures ofEstablishment of Foreign Invested Partnership Enterprises (FIPE) in China is taking effect. The regulation, which take effect since March 1, 2010, are known as the Administrative Measures for the Establishment of Partnership Enterprise in China by Foreign Enterprises or Individuals. There's no required minimum registered capital for a Foreign Invested Partnership Enterprise (FIPE) in Shanghai, Beijing, Guangzhou, Shenzhen, Hangzhou and rest cities of China
Hong Kong Company usually been used as a Special Purpose vehicle (SPV) to invest Mainland China. Hong Kong is one of the quickest locations to Incorporate a business. Although a HK company is not a legal entity in Mainland China (Mainland China and Hong Kong, See Wiki 1 country, 2 systems), lots foreign investors, especially investors from Europe and North America still chose to setting up a Hong Kong company as SPV to invest China.
After China's entry to WTO, most industries in China welcome foreign investment, WFOE setting up in Chinabecomes the first option of foreign investment's entity structures instead of Rep. Office setting up in China. At the mean time, for tax purpose, effective licensing system etc more and more investors use Hong Kong as the holding company to invest China mainland, using this offshore company to hold their operations in China.
Business set-up in Guangzhou is a big project by itself, which requires financial and time commitments, business management knowledge and China expertise. Identifying a competent agent to manage the complex process will be a cost and time effective way to avoid potential pitfalls . Tommy China Business Consulting has direct connections in the local government
Since 2006, TCBC has been focusing on consulting services for our clients to invest in Guangzhou China. We are specialized in establishment of wholly foreign owned enterprises (WFOEs), setting up of offshore companies, trading services, tax minimization, Assist in obtaining government approvals and certificates for running business, negotiate and draft various legal documents provide legal advice, negotiate government officer for Land acquisition. Advising on formation of WOFE and business structures, managing and controlling WOFE in Guangzhou China, drafting privacy policies and structuring commercial transactions
TCBC will manage all aspects of incorporation to get you a business license in Guangzhou China. We offer a range of company formation services including helping you to set up:
-Wholly Foreign Owned Enterprises (WFOE )
-Joint Ventures (Equity/Co-operative)
-Foreign Invested Partnership Enterprises (FIPE)
Contact Tom Lee for business set up in Guangzhou Private Science and Technology Park now.
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