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More efforts planned to create better environment in Qianhai

Twenty-two measures will be made and implemented by the Qianhai Authority in 2018, in order to create a better environment for business, according to a report released by the authority yesterday.

Tian Fu, director of the Qianhai & Shekou Area of China (Guangdong) Pilot Free Trade Zone Authority, said at yesterday’s press conference that the authority aims to build a first-class environment for investors by the end of 2020.

“Qianhai can be the best place for business in China if we continue to transform the role and function of the administration,” he said. “By adopting the best practices made by others and understanding the needs of the enterprises and businessmen, Qianhai can offer a familiar environment for international business subjects.”

According to Tian, simplifying the administrative procedures for enterprises is important, so the authority will offer more online services. Businesses can register on the Internet; only one stamp is needed for administrative approval; registration only takes three days; opening a corporate account takes two days; and consulting services will be provided for foreign, Hong Kong and Macao residents.

Small and micro businesses will be given higher priority. Tian said Qianhai will further improve its credit financing services. Small and micro businesses can apply for bank loans and venture investment more easily.

Qianhai will also set up an entrepreneurs’ rights protection center to ensure businessmen can realize their ambitions in the area.

Shen Peng, secretary general of the Qianhai Institute for Innovative Research, said Qianhai is not only giving preferential polices to companies but also focusing on the details to “truly” make a nice environment.

“Tax deduction is a common practice made by special zones, but it is not that appealing to investors. In order to make a detailed plan and schedule to realize the goal the authority is developing and changing the environment thoroughly,” said Shen. “In the new plan, it is even trying to shorten the time it takes companies to get electricity and water, which showcases its determination to solve real problems for investors.”

On the same day, Qianhai also released its achievements in intellectual property protection. “Qianhai has set up several institutions to protect intellectual property. So far, the Qianhai Cooperation Zone People’s Court has heard 351 related cases and the Intellectual Property Service Center of the Qianhai Notary Office has dealt with 3,727 cases,” said Tian Min, vice director of the Qianhai & Shekou Area Authority.

To encourage business activity, the tax administration also displayed their newly developed online tax platform at the conference. Qianhai enterprises now can enjoy a tax exemption ahead of their online declaration.

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