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Guangdong to replicate 16 FTZ reform trials province-wide

2018-January-26       Source: Newsgd.com

Guangdong is seeking to replicate its success in Guangdong Free Trade Zone (FTZ), from which 16 items will be applied across the province to facilitate entry-exit, trade and investment.

Guangdong is seeking to replicate its success in Guangdong Free Trade Zone (FTZ), from which 16 items will be applied across the province to facilitate entry-exit, trade and investment.

Most importantly, 6 measures cover easier visa and permanent residence application for talented foreigners, international students and overseas Chinese in Guangdong.

For instance, identified talented foreigners can apply for permanent residence with their spouse and minor children.

Besides, fast track of visa application will be opened for overseas universities’ foreign students who get the internship offers from recorded companies.

For overseas Chinese, who work in start up business can apply for residence permit with their work permit and confirmation letter issued by their employers.

The above measures were first implemented in Guangdong FTZ on August, 2016. Now, the measures further cover cities among Pearl River Delta Self-dependent Innovation Demonstration Zone (Guangzhou, Zhuhai, Foshan, Huizhou, Dongguan, Zhongshan, Jiangmen, Zhaoqing) and Sino-German Metal Eco City in Jieyang.

Other 10 items are about facilitation of trade and investment, including intelligent inspection, free-travel yachting between Guangdong, Hong Kong, and Macao, remote declaration and e-payment of port construction dues, cross-border RMB taxation, etc.

FTZs are a way of testing new policies, including interest rate liberalization and fewer investment restrictions, to better integrate the economy with international practices.

Since its operation on April 21, 2015, Guangdong FTZ insists on institutional innovation and has tried out 385 items of reform, innovation. Previously, 86 items have been applied province-wide.

Editor: Will

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