Guangzhou fosters business growth with proactive policies

The Guangzhou Development District has made great efforts to create a favorable business environment with convenient government administrative services as part of a vibrant climate for innovation and entrepreneurship, said local officials.

"Adhering to the service concept of 'all for investors and all for enterprises', the Guangzhou Development District continues to innovate and reform its business services, forging the district into an ideal destination for investors worldwide," said Zhou Yawei, secretary of the Party committee of the development district.

The Guangzhou Development District, located in the city of Guangzhou city in South China's Guangdong province, has made great strides in improving the efficiency of its government services, innovating its company-oriented supportive policies and helping cut enterprises' operating costs.

Through a WeChat app, applicants can submit their materials for registering a company and get access to relevant information. On the same day, the applicant can obtain business licenses, official seals, bank accounts and tax invoices.

On April 22, a network technology company based in the Guangzhou Development District completed all of its business registration procedures in just one day, thanks to the streamlined and improved services.

The district has also reformed its approval processes for construction projects. By streamlining its administrative service procedures, the approval time for a construction project has been shortened by some 67 percent, according to local officials.

The district has introduced an array of tailored support policies for key industries covering high and new technology industries, advanced manufacturing, modern services and headquarters economy, attracting some 175 enterprises since 2017. Total investment from the added businesses has amounted to 330 billion yuan ($47.98 billion).

In addition, the Guangzhou Development District unveiled more targeted polices in November 2018 to help private enterprises and small and medium-sized companies in terms of financing, reducing tax burden and fostering independent innovation.

To lower enterprises' operating costs, the district cut taxes by 16 billion yuan last year.

By reforming the supply side for electricity, the district saved 560 million yuan in electricity costs for more than 180 enterprises in 2018.

The district also offers 10 free services to local enterprises when they apply for construction projects, which helped the enterprises save 150,000 to 200,000 yuan in per-10,000-square-meter construction costs, according to the district's government.

The Guangzhou Development District has innovated on intellectual property protection measures for companies, helping solve their financing problems and protecting intellectual property. It also improved local laws and regulations.

"We will ensure our reforms and innovations are recognized and supported by laws and regulations," Zhou said.

Over 83 percent of enterprises in the district were satisfied with the district's business environment in 2018, ranking it first in Guangzhou, according to a survey conducted by a third-party institution.

Looking ahead, the Guangzhou Development District will continue to explore more innovative measures to attract more high-quality enterprises to settle in the district, Zhou said.

The district will request that the Guangdong provincial government assign it more approval powers that are more closely related to business operation in future. This means it will be able to provide further convenient administrative services for enterprises and individuals.

Taking full advantage of artificial intelligence technology, blockchain technology and other advanced information technologies, the Guangzhou Development District also provides 24-hour government services and promote the establishment of a digital government.