How to start business in GD under new Foreign Investment Law

 Update:2020-01-03    Source: Newsgd.com

The Foreign Investment Law took effect January 1st. According to the authorities, to start a foreign-invested enterprise, investors do not need to go through approval procedures or place a file on record with the commercial departments.

The Foreign Investment Law will bring two major changes to foreign investors in Guangdong, as reported by the Yangcheng Evening News. The new law stipulates a "national treatment plus a negative list before entry" system, meaning foreign investors will enjoy more convenience when starting up a business in Guangdong.

At the same time, in addition to registration application documents, it is also necessary to fill in the foreign investment information report. Foreign investors or foreign-funded enterprises shall submit investment information to the relevant commerce department through both the enterprise registration system and the enterprise credit information publicity system.

Statistics shows that by the end of November 2019, Guangdong had 178,500 foreign-invested enterprises, accounting for about a quarter of the country's total, ranking first in the country.

Procedures to start a foreign invested enterprise

To start a foreign invested enterprise, the applicant should log in to the site ‘One Window Acceptance System Of Guangdong Province" (http://qykb.gdzwfw.gov.cn/qcdzhdj/, in Chinese) to apply for registration of establishing a foreign-funded enterprise.

The applicant shall complete registration information and the initial report at the "Start up enterprise" module. During the registration process, the investor shall guarantee it meets the requirements of Special Management Measures for Foreign Investment Access (Negative List), clarify the industry category and code, and check the special management based on the actual situation.

Notably, the procedures for the establishment of foreign-invested enterprises in Guangzhou, Shenzhen and Zhuhai shall be formulated respectively by local governments. Please pay attention to the policies issued by local market regulatory authorities.

Guangzhou ranks 21st among global innovation clusters

 Update:2020-01-09    Source: Chinadaily.com.cn

Guangzhou supports the development of industries spanning the new generation of information technology, artificial intelligence, biological medicine, new energy, new materials, and marine technology.

Guangzhou has made great breakthroughs in developing technological innovation in 2019 as the city ranked 21st among the world's top 100 innovation clusters, rising from its 32nd ranking in 2018.

The Global Innovation Index, jointly released by the World Intellectual Property Organization (WIPO), Cornell University, and graduate business school INSEAD, started to rank the world's top 100 innovation clusters in 2017.

A total of 19 innovation clusters from the Chinese mainland, Hong Kong, and Taiwan were listed among the rankings, second only after the United States, which had 26.

According to a report released by the Institute of Scientific and Technical Information of China (ISTIC) on the innovation capacity of domestic innovative cities in 2019, Guangzhou ranked third among all 72 national innovation cities and was listed as second among the eight science and technology resource rich cities.

Research and development projects in major areas have been carried out in Guangzhou, expecting to make breakthroughs in a number of advanced key core technologies in the next three to five years, as well as to support development in fields spanning the new generation of information technology, artificial intelligence, biological medicine, new energy, new materials, and marine technology.

More than 3,100 innovation platforms above provincial levels have been established in Guangzhou and 10 national technology business incubators have been designated, ranking first in China, bringing the total number in Guangzhou to 36.

The technical contract turnover has been considered as an important indicator for the transformation of scientific and technological achievements. Guangzhou's technical contract turnover reached 71.9 billion yuan ($10.32 billion), ranking tops in Guangdong province for the first time in recent years.

Guangzhou has also taken the lead in the number of high-tech companies, as well as small and medium-sized technology-based companies, thanks to Guangzhou's efforts in improving its local business environment.

The annual growth rate of Guangzhou's high-tech companies was 57.39 percent from 2016 to 2018, which was tops among all major cities in China.

Guangzhou to become an innovation tech hub for the Greater Bay Area

 Update:2020-01-10    Source: Newsgd.com

According to the Guangzhou Municipal Science and Technology Bureau (Guangzhou Administration of Foreign Experts Affairs), the value of Guangzhou’s tech contract deals amounted to 100 billion RMB in 2019, up from 71.902 billion RMB in 2018, which was in turn double that of 2017.

Guangzhou, the 21st ranked cluster among the top 100 S&T clusters in 2019, moved up 11 places from its 2018 ranking of 32nd, according to the Global Innovation Index (GII) 2019, an innovation ranking benchmark. The GII 2019 also highlighted that China is home to 19 of the top 100 S&T clusters, and was ranked 14th among more than 100 economies worldwide, moving up three spots from 2018. It is also the only middle-income economy in the top 30. The GII report was jointly released by the World Intellectual Property Organization, Cornell University and several other organizations.

To become an innovation tech hub in the Guangdong-Hong Kong-Macao Greater Bay Area, Guangzhou has placed particular emphasis on the frontier science fields. In 2019, the city spent 15 billion RMB on building major science and technology infrastructure, such as a deep-sea ecosystem, a dynamic wide-range velocity vehicle test unit, human cell lineage, and an integrated scientific investigation system for extreme marine environments.

Last May, Guangzhou entered into an agreement with the Chinese Academy of Sciences to build the 99 square kilometre Nansha Science City with its core area being the Pearl Science Park. The Science Park will serve as both the city’s science and technology and its high-end service centers when it is completed. The construction of the park officially started last September.

Statistics show that the average annual growth rate in the number of new high-tech enterprises in Guangzhou was 57.39% between 2016 and 2018, ranking first place nationwide. Over those three years, more than 3,000 new high-tech enterprises established themselves in the city. By the end of 2019, however, the total number is expected to exceed 12,000.

In addition, Guangzhou attaches great importance to attracting high-end talent. In 2017, the city unveiled a new set of measures for simplifying the work visa process including optimizing the workflow, simplifying application documents and shortening approval time. In August 2019, the city put forward specific implementation and measures regarding personal income tax deductions for high-demand individuals working in the city within the Guangdong-Hong Kong-Macao Greater Bay Area.

Now there are a huge number of high-end professionals working in the city:

● 3265 high-end foreign professionals with a Category A Work Permit, a 49% year-on-year increase

● 54 individuals from outside the Chinese mainland designated as ‘high-level talent’, accounting for 72% of the province’s total number

● 8 Nobel laureates

● Over 20 foreign academics

● 389 specially-invited experts introduced by the Recruitment Program of Global Experts

Huangpu welcomes another international advanced biomedical project

 Update:2020-01-15    Source: Chinadaily.com.cn

GDD signs a strategic cooperation agreement with Sinotech Tianze Biotech (Guangzhou) Co Ltd on Jan 11.

Guangzhou Development District (GDD) signed a strategic cooperation agreement with Sinotech Tianze Biotech (Guangzhou) Co Ltd on Jan 11 to join hands in promoting the development of high-end biomaterials and medical devices.

Sinotech Tianze Biotech (Guangzhou) Co Ltd was set up in GDD by Arthur Coury, former chairman of the Society for Biomaterials, as well as Wang Hao, doctor at Massachusetts Institute of Technology and his research team. A Sino-US research institute for advanced biomaterials was also established.

The research institute will focus on research and development along with the application of the new generation of bionic biomaterials, while the company will develop and industrialize the research outcomes of the institute.

In addition, the company will undertake a project, led by Arthur Coury, on basic bionic biomaterials, which can be widely applied to various medical devices, particularly interventional medical equipment.

The technology is expected to be released on the market within two years, reducing the country's import dependence, and is expected to be launched on the science and technology innovation board. The annual turnover of the technology in the upcoming five years will reach 3 billion yuan ($434.16 million).

A person in charge of the company pointed out during the signing ceremony that GDD, having complete infrastructure and abundant technological companies, is an important economic growth hub for the Guangdong-Hong Kong-Macao Greater Bay Area and the whole of China, suitable as it is for the settling and development of technological projects and high-caliber talents.

WTO holds forum on platform economy and IPR protection in Nansha, Guangzhou

 Update:2020-01-16    Source: Newsgd.com

The 2020 Forum on Global Trade, Technology Innovation and Intellectual Property was held from January 14th to 15th in Nansha Guangzhou.

With the theme of ‘platform economy and intellectual property rights (IPR) protection’, the forum shed light into how the platform economy affects the trading of products, and dig deep into the topic through six sub-forums on the effects, economic value, legislation, law enforcement, and technologies of IPR protection under the context of platform economy.

Yi Xiaozhun, Deputy Director General of World Trade Organization, said technologies, especially the development of Internet, have changed the international trade massively in terms of trading modes and subjects over the past decades.“The forum aims to share the experience of global trade, knowledge innovation and IPR system,” Yi said.

“The forum invites different stakeholders, such as IP owners, platform operators and administrators, from all over the world,”he added,“we confront similar opportunities and challenges so it will benefit our stakeholders to further communication on management, legal issues and new technologies including AI and blockchain.”

The forum attracted judges of IP Courts in Beijing, Shanghai and Guangzhou, government officials of related departments, IPR administrators from countries including Europe, Canada and Basil as well as representatives of tech enterprises including Alibaba, Xiaomi and Baidu.

Han Xiucheng, Director of Intellectual Property Department & Research Center of China National Intellectual Property Administration, revealed that platform economy takes up more than 10 percent of China’s GDP and the number is growing rapidly, and he said IPR policy is vital to protect platform technologies and encourage innovation from platform operators.

Han said China has been attaching importance to IPR protection since 2012.“Improving our protection on IPR needs efforts from different stakeholders. While Enterprises should also raise their awareness of IPR management and protection as well,”he said.

In addition, the forum witnessed the release of the Trade and Intellectual Rights Nansha Initiative which shows the determination to improve IPR protection through better understanding of market demands, enhancing administrative and legal protection as well as fostering professional IPR management institutions. Guangdong Provincial Office of Pilot Free Trade Zones, Guangdong Market Supervision and Administration Bureau, Guangdong Sub-Administration of China Customs, Nansha FTZ, Qianhai FTZ and Hengqin FTZ jointly signed the Initiative.

The forum was held by WTO, Chinese Academy of International Trade and Economic Cooperation and Intellectual Property Development and Research Center China National Intellectual Property Administration.

Guangzhou Port launches five new international liner ship lines

 Update:2020-03-10    Source: chinadaily.com.cn

A total of five international liner ship lines departing from Guangzhou Port are launched from Feb 27 to March 7, mainly heading to Southeast Asian countries.

A total of five international liner ship lines departing from Guangzhou Port have been launched from Feb 27 to March 7, mainly heading to Southeast Asian countries.

The line running between South Korea and Xinsha Port of Guangzhou Port in Guangdong's Dongguan was launched on Feb 27. The line, which passes areas including Ulsan, Busan, Hong Kong, Guangzhou, and Xiamen, was expected to transport cold and dangerous goods, as well as chemicals and daily necessities.

The route heading to areas in the Middle East, loaded with 395 China-made automobiles, started operation by Japan's KLINE from Xinsha Port on March 3. The route has made contributions to the exports of China's automobile companies, providing new methods for the main engine plants in the South China area to expand their markets to areas like Africa and Europe.

The route running between Russia and Nansha Port of Guangzhou Port in Guangzhou launched on March 3. It is expected to be an excellent opportunity for Russian wood resources to reach the Guangdong market, further lowering the transportation costs and time in importing wood.

Quality fruit from Thailand can arrive in Nansha Port through the new route that is running among Thailand, Vietnam, and Nansha. It only takes three days to travel from Nansha Port to the Port of Haiphong in Vietnam and five days from Laem Chabang, Thailand to Nansha.

Another line running between Nansha, Vietnam, and Thailand is also available, as it takes four days to travel from Nansha Port to Ho Chi Minh city, Vietnam and six days from Laem Chabang to Nansha.

"These new lines can not only be positive to Guangzhou's regional economy but can also serve the whole Guangdong-Hong Kong-Macao Greater Bay Area. Currently Nansha Port can reach ports in all Southeast Asia countries, boosting the deep cooperation between the Greater Bay Area and the Association of Southeast Asian Nations (ASEAN) countries," said Song Xiaoming, deputy general manager of Guangzhou Port Group.

Guangzhou accelerates construction of AI and digital economy pilot zone

 Update:2020-04-07    Source: Newsgd.com

Guangzhou held a mobilization activity for accelerating the construction of AI and digital economy pilot zone on March 31st.

(File Photo of the ceremony)

Guangzhou issued the outline plan for the construction of the Guangzhou Artificial Intelligence and Digital Economy Pilot Zone in February. Centered in Pazhou, the pilot zone straddles the banks of the Pearl River with a total area of 81 square kilometers.

Of the pilot zone, the Pearl River south bank innovation cluster, namely the Pazhou core area (including Guangzhou Higher Education Mega Center) takes up about 48 square km; the Pearl River north bank integration development cluster (including Guangzhou international financial center) is about 8 square km and the Yuzhu area is about 25 square km.

The activity saw the online opening ceremonies of the national new demonstration base for new industry (big data) and Guangdong laboratory (Guangzhou) for AI and digital economy, live broadcasting the signing of 98 projects, opening of 44 projects and the 99 project start-ups. The total investment in the projects has exceeded 580 billion yuan.

According to Cao Dahua, executive deputy director-general of the Office of the Leading Group for the Construction of the Guangdong-Hong Kong-Macao Greater Bay Area, and Deputy Director-General of the Guangdong Provincial Development and Reform Commission, the acceleration of the comprehensive development of Guangzhou's Artificial Intelligence and Digital Economy Pilot Zone is a specific move to coordinate COVID-19 control with economic & social development, further expanding the return work and production initiative. It is also another important measure furthering Greater Bay Area development.

Guangzhou will use the opportunities in development of the digital economy and implement the overall plan issued by the province. The Office for the Construction of the GBA will increase its support in coordination, industrial innovation and other fields.

Chen Zhiying, vice mayor of Guangzhou, said that Guangzhou will accelerate the construction of new types of infrastructure such as 5G, big data centers and the ‘industrial Internet’ as part of the pilot zone. The city will be rejuvenated with the development of new business models like online economy, digital industry.

Chen expects all academics, experts and entrepreneurs to strengthen their cooperation with Guangzhou. The city will further the reform of the business environment and provide high-quality services.

Ni Guangnan, Li Yanhong, Sergei Chizhik and other scientists and entrepreneurs from both China and overseas spoke highly of Guangzhou's prospective industrial layout and the acceleration of the development of both AI and digital economy industries.

They said that as the core city of the GBA, Guangzhou has a remarkable business environment, government services and scientific research resources. The aggregation of R&D platforms and leading enterprises put Guangzhou at the forefront.