KPMG releases an assessment report on April 17. [Photo provided to Newsgd.com]
KPMG Advisory (China) Limited, one of the Big Four auditors, assessed the business environment of Nansha Free Trade Zone (FTZ) and released a report recently on April 17.
The report shows Nansha FTZ’s business regulation is catching up to the developed regions worldwide but gaps still exist in aspects as dealing with construction permits and paying taxes.
Pan Yuzhang, Deputy Director of the Management Committee of Nansha FTZ, said KPMG’s report adopted an internationally-recognized standard and would be an important reference for Nansha to further reform and opening-up.
KPMG Advisory (China) Limited Partner Yang Bin said the report examined 7 out of the 11 indicator sets from Doing Business, a flagship report produced by the Work Bank.
“Its indicator sets cover various aspects of regulation affecting enterprises in different stages,” said Yang Bin, “on the other hand, the method has been well-developed and adopted to 190 economies since launching in 2003.”
The 11 indicator sets used in World Bank Doing Business. [Graph/2018. Doing Business 2018: Reforming to Create Jobs.Washington, DC: World Bank.]
According to the report, Nansha has gained profound achievement in facilitating business registration, property registration, cross-border trading and contract enforcement over the past three years.
For example, it requires two procedures to start a business in Nansha and a half-day to receive the business license. Compared to the top-ranked country, New Zealand, which needs one procedure and a half-day, Nansha is at a leading position around the world.