To date, Guangzhou has established a variety of 1.5174 million market entities with registered capital of 3.781591 trillion yuan and including 22,800 foreign-funded enterprises(incl. branches).

Recently, at the 2016 Annual Conference of Chamber of Commerce of Guangzhou Foreign Investment Enterprises, Ping Xinguang, vice chairman of CPPCC Guangzhou, said that Guangzhou has maintained trade relationship with more than 220 countries and regions across the world, and 54 countries and regions has established consulates in Guangzhou, 288 of Fortune 500 corporations has set up branches in Guangzhou, and the industrial output of Guangzhou-based foreign-funded enterprises has accounted for 62% of the total of the city’s enterprises above statistic threshold.

 

On January 17, Tan Manqing, director-general of Guangzhou Municipal Industrial and Commercial Bureau, said that Guangzhou’s industrial and commercial authorities have comprehensively boosted commercial system reform. Over the past two years, the overall reduction proportion of pre-approval issues for industrial and commercial registration has exceeded 90%, and the number now is 71% less than the 37 pre-approval issues for industrial and commercial registration kept by the country. The commercial system reform further liberates market vitality, Tan added. 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.

 

Statistics indicate that Guangzhou has 628,200 domestic enterprises(incl. private enterprises), 22,800 foreign-funded enterprises(incl. branches), 862,600 individual industrial and commercial businesses, and 1,300 farmer’s specialty cooperatives. The number of enterprises owned per thousand citizens in Guangzhou is 48, reaching the standard for developed countries.

 

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