It was learnt from the news briefing held by the Guangzhou Bureau of Financial Work on October 26 that, currently, Guangzhou is making researches for introducing policies and measures with greater support for various equity investment organizations engaged in venture capital investment to attract more related enterprises registered in other places to relocate themselves in Guangzhou and guide related enterprises with registration in other places and operation in Guangzhou to transfer their registration to Guangzhou.

 

So far, Guangzhou has had 1,300 equity investment organizations, with funds of RMB300 billion under their management. These organizations have become a vital and important driving force for an innovative development of Guangzhou. He Huaquan, chief of the Division of Capital Market of the Guangzhou Bureau of Financial Work, said that there have been many equity investment organizations with background as central enterprises showing intention to settle down in Guangzhou. He said, “If these organizations can be attracted to Guangzhou, the funds under management may increase by about RMB200 billion in the future.”

 

At the same time, under the support of the Central Committee of the China National Democratic Construction Association and the CPC Guangdong Committee and the People’s Government of Guangdong, the China Venture Capital & Private Equity Forum will be held in Guangzhou and Shenzhen. Guangzhou will hold the 19^th China Venture Capital & Private Equity Forum in the first half of 2017. In addition, it has been confirmed that the Fortune Global Forum 2017 will be held in Guangzhou. “Guangzhou will take the chance to hold these two forums to provide excellent coordination services and create a good business environment to attract more venture capital investment organizations and talents to Guangzhou,” said Nie Linkun, deputy director of the Guangzhou Bureau of Financial Work.

 

Moreover, it was learnt that Guangzhou has resumed the procedures for business registration of equity investment organizations. Since the beginning of this year, under the national risk management program for Internet finance, many big cities such as Shanghai and Shenzhen have suspended the procedures for business registration of equity investment enterprises, and Guangzhou also carried out related management program following the unified arrangement of the state and provincial governments. At the end of September, the Guangzhou Administration for Industry and Commerce issued a formal document, announcing to allow equity investment enterprises to go through normal business registration procedures in Guangzhou. It said that, enterprises applying for business license for “equity investment fund” and engaged in equity investment operations can deal with related operation activities in accordance with relevant laws and regulation after acquiring the business license and go through related registration procedures.

 

“The action of Guangzhou to resume these procedures mentioned above indicates the confidence and determination of Guangzhou to further optimize the investment environment, support equity investment organizations to accelerate their development in Guangzhou and build a city of venture capital investment,” said Nie Linkun.

 

Source: Translated from Invest Guangzhou, October 27, 2016