Recently, the reporter has learned that Guangzhou’s economic structure continued optimization in 2016. According to statistics, in 2016, Guangzhou had 245,100 new market entities, up 17.78% year on year, new registered capital of 818.628 billion yuan, up 39.62% year on year. Each day saw 389 new enterprises in average in 2016, accounting for 18% of 2,160, the number of Guangdong’s newly registered enterprises per day. Enterprises from the tertiary industry accounted for 90.73% of these new enterprises, which is in line with the country’s industrial adjustment expectation and direction.

 

Multiple incentive policies to be issued this year

On February 17, at the Guangzhou Industrial and Commercial Administrative Meeting, the reporter learned that Guangzhou will reform and innovate to realize convenient and efficient registration, efficient supervision and electronic registration, issue multiple policies, and enable entrepreneurs and innovative talent to invest and start business in Guangzhou.

This year, Guangzhou will make breakthroughs in “liberation” and further improve the convenience of market entry, said Tan Manqing, director-general of Guangzhou Municipal Industrial and Commercial Bureau.

 

First, Guangzhou will carry out the reform of Seven-Certificate Integration. Based on the “Five-Certificate Integration and One Code for One License” reform, efforts will be made in further integrating the seal approval certificate and bank account opening permit, strengthening connection of the processes, orderly carrying out “Seven-Certificate Integration and One Code for One License”, transacting the certificates and licenses for entities in a combined mode, realizing one-stop service for market entry and further shortening the preparation time for business establishment.

 

Meanwhile, reform on enterprise name registration will be pushed forward. The name approval system for enterprise establishment will be changed to independent name application system to release name resources and make the naming a civil right. Releasing the name registration conditions to allow enterprises using diction, even not in the national economic and industrial classification catalog, which reflect the industrial or operational characteristics. For instance, “cross-border E-commerce”, “bonded exhibition”, “re-export trade”, “service trade”, “startup incubator”, “maker space” and “maker” and other diction will be allowed in the naming of enterprises to reflect their industrial characteristics.

 

Registration restrictions for enterprise addresses and operation addresses will be further released. Address registration reform, such as clustering registration and commercial secretary company registration, will be put forward to support eligible district to try the commercial entity address registration report system. Business scope registration conditions will be lifted up to register the emerging industries or new business items not included in the national economic classification catalog based on the reference to policies, industrial conventions or professional literature.

 

Speeding up the implementation of full-range electronic registration

Boosting the full-range electronic registration is also an important issue at the meeting. In fact, Guangzhou took the national lead in online registration in 2008. At the beginning, online registration was only for foreign-funded enterprises, and then expanded to domestic enterprises. In 2012 when Guangdong started commercial registration reform, Guangzhou and Dongguan were the province’s pilot cities for the full-range electronic registration of enterprises. In 2013 when Guangzhou promulgated the commercial registration reform alone, the comprehensive implementation of online commercial registration was one of seven major reforms then.

 

This year, Guangzhou Municipal Industrial and Commercial Bureau will develop a full-range electronic registration system to achieve a standardized acceptance and approval process and a streamlined service integrating “online application, approval, license issuance and archiving” and comprehensively improve registration efficiency. “With more flow of data and less traffic of enterprise applicants, and we’ll enable startup entrepreneurs to register enterprises at home,” said Tan Manqing.

 

It is worth mentioning that Guangzhou will expand the function of E-business license. Linkage and data integration between E-business license and other E-government applications and bank systems will be advanced. E-business licenses which are nationwide universal and equipped with the payment function will also be launched this year.

 

Green channel to be opened for major projects

According to statistics, so far, Guangzhou has attracted 228 of Fortune 500 corporations to invest in nearly 800 projects in the city. Since last year, a number of innovative and key projects from Cisco, Microsoft, GE and Foxconn have settled down in the city successively. Guangzhou is thriving in ushering in capitals, technologies and talent.

 

Thus, Guangzhou Municipal Industrial and Commercial Bureau strengthens services to key projects and big enterprises. The bureau offers timely and active service to the key projects, enhances communication with commercial departments to offer Green Channel industrial and commercial administrative services, including field instructions, reply to questions and dedicated follow-up and transaction services, for major projects and enterprises, and encourages more enterprises from Fortune 500 and China’s Top 500 to invest in Guangzhou.

 

While serving key enterprises, Guangzhou continues support to small and micro enterprises. Guangzhou boosts bank-enterprise matching to help small and micro enterprise alleviate financing difficulties through chattel mortgage, equity pawn or pawn of registered trademarks’ chartered using right. Guangzhou pushes forward the establishment of list of small and micro enterprises, publicizes policies for supporting the development of small and micro enterprises, boosts the transformation and upgrading of individual industrial and commercial entities into enterprises, explores cooperation with the third party to carry out the tracing, monitoring and investigation on the status of small and micro enterprises, and provide pertinent policy support to them accordingly.

 

Source: Translated from Invest Guangzhou, Feb. 20, 2017