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Guangdong released 75 cases of innovation in FTZ

2018-February-2       Source: Newsgd.com

Another 75 cases of institutional innovation were recently released by General Affairs Office of Guangdong Free Trade Zone, to guide the promotion and implementation of innovation province-wide.

Another 75 cases of institutional innovation were recently released by General Affairs Office of Guangdong Free Trade Zone, to guide the promotion and implementation of innovation province-wide.

Those cases are achievements gained by various areas of GDFTZ, through active exploration, reform and innovation, and are policy-based business innovation piloted by enterprises within the zone. They provide successful experience for other regions, related government departments to further reform, opening-up and business development.

They include innovation items in 5 different aspects: 15 for facilitation of investment, 20 for facilitation of trade, 13 for strengthening supervision model over delegated matters, 13 for rule of law, and 14 for financial innovation.

Specifically, "Investment Policies Service" was set up in Nansha Government Affair Service Center, in which latest information about investment policies is updated in time. Enterprises can enjoy professional, authoritative, and overarching consultation services for free.

Shenzhen has built a multi-lingual tax consultation service platform, which realizes automatic identification and response of common tax-related issues. Experts in tax work will provide professional consultation service to tax-payers. In its new version, services can now be offered in English, French, Japanese and Russian.

Hengqin FTZ independently developed the country's first self-service remote visual taxation service terminal "V-Tax". It provides intelligent guidance for Hong Kong and Macao tax-payers as well as remote services for tax personnel, facilitating cross-border transactions. Residents from Hong Kong and Macao can enjoy financial support when purchasing a house in Hengqin. In addition, cross-border electronic tax stamps are put into use, again saving tax costs.

Nansha FTZ launched an internship program for students from Hong Kong and Macao, striving to supply them with internship positions at major state-own and private companies within the zone.

Shenzhen Court of International Arbitration, SCIA has published the Guidelines For The Administration of Arbitration Under The UNCITRAL Arbitration Rules. Now the parties can apply well-known arbitration rules at home and abroad. SCIA also encourages the parties to do arbitration in Hong Kong, so as to promote the development of HK's legal service in mainland.

GDFTZ has released 17 cases of institutional innovation before, among which three cases were acknowledged as best case studies around the nation.

Reported by Will, Silverdew

Editor: Will

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