"As the reform to delegate power, streamline administration and optimize government services is being steadily advanced, the foreign investment negative list in the free trade zone has been further shortened and items on projects in the manufacturing industry have been cut to zero," said Zhang Jinsong, director general of Guangdong Department of Commerce and director of the general affairs office of the Guangdong free trade zone (FTZ).
[Photo: Nanfang Plus]
That was remarked at a press conference on the latest reform and innovation achievements of the FTZ held on August 18.
A vibrant hub for foreign trade and investment
The total import and export volume of China (Guangdong) Pilot Free Trade Zone exceeded 200 billion RMB in the first half of the year, up by 24.9 percent.
During the six-month period of 2022, the free trade zone achieved steady growth in major economic indicators, registering 61.83 billion RMB in fixed-asset investment and 4.05 billion USD in actually utilized foreign investment.
[Photo: Nanfang Plus]
The number of international liner routes in the zone has increased from 332 in 2021 to 338, with an annual cargo handling capacity of over 30 million TEUs, exceeding one-tenth of the national total.
With the international business environment being constantly optimized, the efficiency of government services has also been further improved. For example, it only takes a half-day to get business licenses in the zone.
Based on a third-party assessment, the four indices of the zone on investment facilitation, trade facilitation, cross-border finance and shipping development in 2021 rose by 9.2 percent, 10.38 percent, 8.79 percent and 22.4 percent respectively year-on-year.
Closer ties with Hong Kong and Macao
Covering Nansha of Guangzhou, Hengqin of Zhuhai and Qianhai-Shekou of Shenzhen, Guangdong FTZ has strengthened cooperation with neighboring Hong Kong and Macao over the past few years.
A total of 2,656 Hong Kong and Macao enterprises had newly established operations in the FTZ, with an actual investment of 52.4 billion RMB in 2021, accounting for 33.8% of the total amount of Hong Kong and Macao investment actually utilized in the province.
From January to June this year, the zone attracted 25.47 billion RMB from Hong Kong and Macao investors, with 721 newly-established enterprises. Currently, it is home to 14 Guangdong-Hong Kong-Macao joint law firms and the first wholly Macao-funded medical institutionon the Chinese mainland.
[Photo: Nanfang Plus]
In Nansha Area, 11 Hong Kong and Macao youth innovation bases have been established, and nearly 3,000 Hong Kong-funded and Macao-funded companies have been set up, with a total investment of 117 billion USD.
In addition, a total of 335start-upteams from Hong Kong have been incubated so far by the Qianhai Shenzhen-Hong Kong Youth Innovation and Entrepreneur Hub. And in Hengqin, over 1,000 Macao professionals in architecture, design, tourism and medical care have obtained mainland practice qualifications.
Author | Fanny, Jolie (Intern)
Editor | Wing, Steven, Monica, Jerry
