Foreign envoys in Guangzhou participate in world UHD video conference

 Update:2021-05-12    Source: eguangzhou.gov.cn

The opening ceremony of the 2021 World UHD Video Industrial Conference. [Photo provided to chinadaily.com.cn]

The 2021 World UHD Video Industrial Conference (WUVIC) took place in Guangzhou from May 8 to 10, bringing together nearly 1,500 guests.

The conference was jointly held by the Ministry of Industry and Information Technology, the National Radio and Television Administration, China Media Group and the People's Government of Guangdong Province.

Several consul generals and representatives from consulates general of foreign countries in Guangzhou pose for a group photo. [Photo provided to chinadaily.com.cn]

Twelve consul generals and representatives from 11 consulates general of foreign countries in Guangzhou, including Mexico, Zambia, Cuba, Panama, Venezuela, the United States, Thailand, Cambodia and Laos, attended the event, along with Zhan Decun, director of the foreign affairs office of the Guangzhou municipal government.

A series of events including forums, matchmaking fairs and project road shows were held during the event, along with a product and technology trade fair, e-sports competitions and 8K films screenings.

Infographics | Greater Bay Area's GDP hits 11.5 trillion yuan

 Update:2021-05-19    Source: Newsgd.com

The Guangdong-Hong Kong-Macao Greater Bay Area (GBA) consists of the Hong Kong SAR, Macao SAR, and nine cities in Guangdong (namely Guangzhou, Shenzhen, Zhuhai, Foshan, Huizhou, Dongguan, Zhongshan, Jiangmen and Zhaoqing) with a total area of 56,000 square kilometers.

With less than 0.6% of China's area, the GBA contributes 12% of the country's GDP. By the end of 2020, the total economic volume of the GBA had reached 11.5 trillion yuan. In detail, the GDP of nine cities in Guangdong is about 9 trillion yuan, and the GDP of Hong Kong and Macao is about 2.7 trillion Hong Kong dollars, and 194.4 billion Macao patacas, respectively.

Guangzhou's GDP to reach 3.5 trillion RMB in 2025

 Update:2021-05-21    Source: Newsgd.com

Guangzhou released its 14th Five-Year Plan and development vision for 2035 on May 19th, highlighting the city's main economic and social goals for 2021-2025. It is aiming for an annual economic growth rate of about 6 percent for 2021-2025 and boosting its GDP to 3.5 trillion RMB (about 0.54 trillion USD) in 2025.

(Photo / Nanfang Daily)

According to the plan, Guangzhou will develop into a city with new vitality by 2025, and eight specific goals for (2021-2025) are put forward on economy, they will include, among others: innovation, environment and people's livelihood.

For instance, residents will enjoy basically the same income growth as economic growth, and the life expectancy will increase to 83 by 2025.

The city government expects that R&D spending will account for about 3.4% of the regional GDP, and the added value of strategic emerging industries will exceed 1.2 trillion RMB. It will also make progress on reform and opening-up, to develop into an international consumption center city and an international exchange center.

Aiming for a better ecological environment, the percentage of days with good air quality will reach 88% and the forest coverage rate will increase to 41.65% by 2025.

In addition, it is expected that the city’s function as an international comprehensive transportation hub will be enhanced within five years. In this period, the third phase expansion project of the Baiyun International Airport will be finished that will have three terminals to serve a 100 million passenger throughput in 2025.

Guangzhou remains top preferred reinvestment destination for four consecutive years: AmCham South China

 Update:2021-05-25    Source: Newsgd.com

Guangzhou has been selected as the top preferred reinvestment destination for four consecutive years, according to a special report released by the American Chamber of Commerce in South China (AmCham South China) on May 24th.

(Photo / Nanfang Daily)

The bilingual 2021 Special Report on the State of Business in Guangzhou aggregates and quantitatively analyzes the experiences of the 115 companies that participated in the study.

According to the study, most companies ascribe their determination to establish a company in Guangzhou to the growth potential of the Guangzhou market, followed by the advantages of proximity to Hong Kong SAR, Macao SAR, and Taiwan region, and better infrastructure than other places in China.

90% of companies have achieved profitability in Guangzhou, and most of the rest expected to become profitable with two years or less.

Dr. Harley Seyedin, President of AmCham South China, said, "Without a doubt that vaccines will accelerate the rebound in 2021. Faced with the difficulties brought on by COVID-19 in 2020, our member companies succeeded in growing and making profits with supportive policies and practical assistance from the Guangzhou government."

The study also shows Guangzhou has been stepping up efforts to optimize the business environment to create the best investment destination for global enterprises. Examples abound that Guangzhou has launched a series of policies and announced specific measures to stimulate market vitality and enhance trade facilitation.

The report shows that 78% of the surveyed companies report an overall positive return on investment in China. Approximately 70% of the companies plan to expand in Guangzhou in the next three years.

The primary factor that incentivizes companies to increase investment or shift investment to Guangzhou is the growth potential of the local market.

Guangdong starts "one integrated license" pilot reform for business registration

 Update:2021-06-10    Source: Newsgd.com

On June 7, Guangdong issued a plan to implement the "one integrated license" pilot for facilitating business approval services of enterprises. It is to integrate the previously required multiple licenses into one, so applicants can acquire different approvals and permits in only one license application.

(Photo / Nanfang Daily)

According to the plan, 14 permitting items including food business license, drug business license, establishment of entertainment venues approval will be piloted in Guangzhou, Shenzhen, Zhuhai, Foshan, Dongguan and Zhongshan and will last till the end of December, 2021.

The above pilot cities will also complete another 16 reform items by the end of June, 2022. The "one integrated license" is hoped to cover more business approval items in Guangdong by 2023.

Also, the plan encourages an increase in connectivity with Hong Kong and Macao. Aiming to improve the business registration and administrative approval systems of different cities in the Guangdong-Hong Kong-Macao Greater Bay Area, it will promote the sharing of registration information and recognition of qualifications among enterprises in Guangdong, Hong Kong and Macao.

By the cooperation with service institutions in Hong Kong and Macao, Hong Kong or Macao-funded companies will be able to set up offshore companies in Guangdong.

In terms of the reform in business registration system, it will be expanded to the whole Guangdong Pilot Free Trade Zone this year. And it will further cover nine cities in the Pearl River Delta region in the future when it is approved by the country.

GBA goes in the right direction: Martin Fleischer, Consul General of Germany in Guangzhou

 Update:2021-06-16    Source: Newsgd.com

"There are many things I like about Guangzhou and Guangdong," Martin Fleischer, Consul General of Germany in Guangzhou, said he loves the pleasant weather, delicious food and diversity in Guangdong. "But what impresses me most are the people, they can be pretty relaxed and can be pretty cool, and that's admirable."

Martin Fleischer has served as the Consul General of Germany in Guangzhou for about four years since August 2017. During his spare time, Mr. Fleischer likes playing music including jazz, classical baroque music as well as rock and roll. He performs at the JZ Club in Guangzhou's Party Pier once every month.

Seaside and beach, impressive mountains, Lingnan architecture... the German CG also feels admiration for the province's diversity, suggesting that "You need a bit of patience to discover, because Guangdong has many hidden jewels that you really have to go and to explore."

Over the past several years, Martin Fleischer has visited many cities in Guangdong, including Maoming, Zhanjiang and Meizhou, not to mention those cities in the Pearl River Delta region.

"Guangdong is the largest and economically strongest province in China. Almost one third of China's imports and exports go through Guangdong Province, and that's very important for Germany," Martin Fleischer pointed out, "Guangdong has a pretty good business and investment climate, and German companies like to invest in the province."

He took German chemical giant BASF's new project, the largest-ever investment project in Guangdong, as an example. BASF officially launched its smart Verbund project in the city of Zhanjiang, with investment estimated to reach up to 10 billion U.S. dollars upon completion. The project will initially include plants to produce engineering plastics and TPU serving a range of key industries. As the first wholly foreign-funded project in China's heavy chemical industry, the Verbund project, with the first-stage units expected to come on stream in 2022, is a demonstration of the chemical behemoth's ambition to expand further into China, the world's largest market for chemical products.

According to the CG, there are currently about 600 German companies in Guangdong, and the province with Germany can establish cooperation in petrochemical industry, autonomous driving, and environmental and climate technology.

The CG also holds that the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) is heading in the right direction since it aims at creating a unified economic space with nine Guangdong cities, Hong Kong and Macao SARs. He believes that there is a huge potential of cooperation between the GBA and Germany as Guangdong enjoys a good business and investment climate while Hong Kong highlights great, favorable advantages in terms of financial and judicial system.

Martin Fleischer expects more and more German enterprises and German people to settle down in the GBA in the future. "I think that the Greater Bay Area should be a pioneer in a more open international communication."

Guangzhou's Huangpu to boost hydrogen industry

 Update:2021-06-18    Source: Newsgd.com

Guangzhou's Huangpu District, Guangzhou Development District launched a series of incentives to support its hydrogen industry on June 15. The district offers key enterprises incentives as high as 100 million yuan for settling in the district and 2.5 million yuan for hydrogen refueling station construction.

Guangzhou launched 10 major incentive policies in August 2019, leading the country to support the development of the hydrogen industry. Thus far, the city has issued more subsidy of more than 12 million yuan and successfully attracted related professionals, technologies and key projects.

The upgraded version of incentive policies will reward those key component projects which have national incentives with more than 500 million yuan fixed investment. The incentives go up to 15 percent of the fixed investment. As for the projects with more than 50 million yuan fixed investment, the new polices have canceled the previous project classification and present incentives as high as 10 percent of the project's fixed investment.

In addition, the new policies support enterprises in production space with a standard of 10 yuan per square meter per month. Each enterprise could receive as high as 1 million yuan subsidy each year. As for rental production and office space, the district offers as high as 1 million yuan annual rental subsidy for the first 3 years.

The policies also offer hydrogen industrial park a one-time award of 250 thousand yuan and an annual operational subsidy of 1 million yuan for the first 3 years. The district will also provide a 50-thousand-yuan award for successfully attracting a related company to settle in the industrial park.