Guangzhou has been one of China's most important commercial centers since it was the departure port of the Maritime Silk Road during the Tang Dynasty (AD 618-907). Almost 1,500 years later, Guangzhou still ranks among the top cities in China for commercial innovation because the city provides an open and convenient business environment for new companies. The following four new practices of the city government have helped make Guangzhou a fertile ground for new business.
First, the Guangzhou municipal government cut down 90 percent of business registrationpre-approval matters in 2015 and To register an enterprise in Guangzhou today, only 11 steps must be taken.
Second, to register a domestic company in a certain district in Guangzhou, investors can go to any industry and commerce administration in the city to handle the relevant procedures. There is no need to go to a particular district’s administration. Besides, investors are able to save time by making appointments online before going to the appropriate administration officials.
Third, the Administration of Industry and Commerce of Guangzhou Municipality cooperates with six major banks in China and offers enterprise registration services at bank counters free of charge. Investors are able to register companies in the Bank of China, Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, China Citic Bank and Huaxia Bank.
Fourth, companies with digital business licenses now can access the official website of the People's Government of Guangzhou Municipality and handle matters electronically and without paper. However, these transactions are restricted to those that don’t need enterprise digital signatures.
At least in part due to the convenient business environment in the city, over 190,000 new companies registered in Guangzhou during the first three quarters of this year, an increase of 22 percent over 2015.
(By Annie Li, Louis Berney)