Ready for innovators
In two UN released reports, The World Urbanization Prospects and China Sustainable Cities Report 2016: Measuring Ecological Input and Human Development, Guangzhou was recognized as an ultra-large city with the fastest development in the world, topping the Human Development Index among Chinese cities. Guangzhou also ranked first in Chinese Cities of Opportunity 2016 jointly released by Price Waterhouse Coopers Consulting (PwC) and the China Development Research Foundation.
In addition to an "agreeable living environment" and "powerful industrial base", Guangzhou also boasts unique investment and business advantages.
Guangzhou Port's cargo throughput totaled 540 million metric tons in 2016, and its container throughput registered 18.85 million tons, ranking 6th and 7th in the world respectively.
Guangzhou Baiyun International Airport, a hub of the Belt and Road Initiative, had a passenger throughput of 59.78 million in 2016, ranking 3rd in China.
Guangzhou is one of China's four major railway hubs, and is also one of China's main highway hubs as one of the cities with most linking roads in China's expressway network.
Guangzhou is also one of China's three communication hubs, home to China's internet exchange center and three international internet outlets.
Guangzhou Automobile Group Co Ltd (GAC Group), a Global Fortune 500 enterprise, has been increasing investment in Guangzhou recent years. [Photo/people.com.cn]
Support and protection for innovation
Guangzhou is home to 97 percent of the laboratories for state key disciplines and all the state key laboratories of the province. The city was approved a National Independent Innovation Demonstration Zone and Comprehensive Innovation Reform Test Core Area.
There are more than 120,000 sci-tech innovation enterprises, sci-tech incubators of over 8 million square meters and 44 new-type R&D institutions in Guangzhou. The city ranks first in average daily registered trademarks among sub-provincial cities.
IPR projects such as the Guangdong Office of the Patent Examination Cooperation Center of the State Intellectual Property Office, the Guangzhou Intellectual Property Court and the Guangzhou Intellectual Property Exchange are all based in the city.
The Guangzhou Cooperation Center for Trademark Examination offers strong support and protection for innovation and startup efforts of enterprises and individuals.
Sound institutional innovation
Guangzhou has been approved for pilot operations of national service trade innovation development, comprehensive reform and development of domestic trade circulation system, comprehensive cross-border e-commerce and national market purchase trade modes to offer great inherent momentum for systems innovations in all fields throughout the city.
Relying on the Nansha Free Trade Zone, Guangzhou continues to actively explore and establish systems and mechanisms matching conventional international investment trade practices. The city has formed 209 innovation achievements and 85 practices to be modeled on in Guangdong province and the country. Guangzhou takes the lead in building market information supervision enterprises and credit platforms and preliminarily sets up new engines for economic growth, transformation and upgrading.
Convenient governmental services
Guangzhou strives to forge a legal and international business environment, and improve the convenience of investment trade. In 2016, Guangzhou introduced a new administration approval registration catalog, reducing 176 administrative approval and registration issues.
The city has also integrated "one-stop" services, released business registration restrictions and carried out city-wide services for industrial and commercial registration. Guangzhou rolled out reforms for business tax to value added tax (VAT), carried out reductions or exemptions for 52 administrative fees and eight governmental funds and implemented policy on reducing the rates of four insurances and housing funds.
In 2016, the city reduced enterprise business costs of over 70 billion yuan. To further lighten enterprises' burden, those using the Single Window are exempt from customs and inspection and quarantine declaration fees.
Guangzhou also comprehensively implemented pilot operation exemptions for erection, relocation and warehousing costs of foreign trade enterprises.