Guangdong's Administration for Industry and Commerce introduced new initiatives for foreign-invested enterprises (FIE) on November 23 at a news conference led by Guangdong Commerce Deputy Director Feng Xiang Yong.
After 30 years of development, Guangdong boasts the nations largest number of FIEs at 92,806, with an aggregate investment worth 415 billion USD.
Guangzhou s FIEs have been increasing in recent years bringing in increased foreign capital as their sizes also increase. Foreign investment is gradually being transferred to the service industry. The investment resources mainly stem from Hong Kong, Macao and Taiwan, which take up more than 60 percent of the total.
The Administration for Industry and Commerce has been creating a free and orderly policy environment for FIEs by making full use of its advantages in location and policy.
According to Feng, the administration promotes the healthy development of FIEs by improving the service efficiency of the administration, constructing a convenient and efficient service system, standardizing supervision enforcement and maintaining a just and fair market order.
The administration has drawn up 18 initiative measures to improve the standard of service for FIEs. These include softening the terms on market access conditions to encourage FIEs to increase investment and additional support to FIEs to accelerate development and to optimize the structure of foreign capital. The new measures also plan to simplify registration formalities of FIEs and to streamline the registration system. The new measures also plan to expand the scope of services and to improve the service capability for the development of FIEs.
