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Guangdong vows 5 business days of investment approval

2015-February-28       Source: Newsgd.com

By the time of Mar. 1, corporation owners in Guangdong are expected to complete registration online and pass authorization as quickly as 5 business days.

Li Chunhong (right) at the press conference on Feb. 27.

By the time of Mar. 1, corporation owners in Guangdong are expected to complete registration online and pass authorization as quickly as 5 business days, Li Chunhong, Director of Guangdong Development and Reform Commission spoke on the press conference on Feb. 27.

According to Li, Guangdong government online business hall will launch a new platform which allowed investors in the province to file the project record online. In the meantime, all issues of investment project will be managed online. Li said Guangdong will be the first province to explore the path of completed online investment authorization in China.

It is a new measure came along with the administrative authorization list published on Feb. 17. Along with the list, Guangdong government also released two other lists in an innovative management approach to boost investors freedoms including the negative list, and governmental regulation list.

Li told the press that the negative list clearly specified forbidding investing area in the future. Investing projects which are not listed are open to the public. Investors are able to complete filing record online and simply receive a “Yes or No” answer in as quickly as 5 business days, a sharp decrease compared to over 270 days of approval progress.

Over a thousand investment projects in the negative list including natural scenic area, and natural and cultural heritage preserved area are banned in Guangdong since Mar. 1.

For foreign investors, Li said there will be a negative list published in the future following the Guangdong Free Trade Zone (FTZ). “The new deal mainly aims at domestic investors.” He said. But Guangdong FTZ will release a negative list on foreign investors specifically. “The list will be experimented in FTZ and later popularized in the province once it achieve its goals.”

 

Related Story: Official: Guangdong Free Trade Zone to open soon

Guangdong Free Trade Zone (FTZ) will start running after the authorization from central government very soon, Li Chunhong, Director of Guangdong Development and Reform Commission spoke on the first press conference of the 3rd Session of the 12th Guangdong Provincial People’s Congress on Feb. 10.

 

Related Story: Quality over speed, Guangdong lower growth target to 7.5%

Zhu Xiaodan, Governor of Guangdong province, targeted the annual GDP growth of 2015 around 7.5% on the government work report in the 3rd Session of the 12th Guangdong Provincial People’s Congress on Feb. 9.

 

Editor: Olivia

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