An increasingly beneficial business climate draws more global investors to Dongguan.
Dongguan was home to 391,000 private enterprises and 586,900 individual businesses by the end of 2017, with the total registered capital exceeding 18 billion yuan (USD 2.62 billion). The favorable policies and sound business climate have made it possible for the city's private sector to thrive sustainably. In 2017, Dongguan launched the plan of improving both the scale and efficiency of major enterprises. Focusing on the policy, industry, land, capital and talents, Dongguan offers the pilot companies 20 inclusive preferential policies plus a panel of experts to consult with, to ensure these firms multiply their size and economic benefits.
"The biennial event provides overseas Dongguan entrepreneurs with an opportunity to grasp a deeper understanding of the city's investment realities and boost business exchanges and cooperation with Dongguan. As the China-proposed Belt and Road Initiative and the strategy of the Guangdong-Hong Kong-Macao Greater Bay Area further unroll, it is stepping up the pace of building a new open economy and rolling out preferential policies to shape a better business climate. Thus, these businessmen are more confident and looking forward to investing in the city," said Yin Hongwei, director of the Convention's executive committee and chairman of World Dongguan Entrepreneurs Federation (WDEF).
A signing ceremony was held by the Dongguan Investment Group Co., Ltd. (DIG) and WDEF. These signed projects, including four for industrial investment and seven for financial services, fall into such fields as the emerging intelligent industries development, private equity investment and sci-tech financial services for small and medium enterprises (SMEs). At the signing event, investment in industries and in private equity are worth over 27.5 billion yuan (USD 3.99 billion) and 3.5 billion yuan (USD 508.7 million), respectively, and SMEs are granted a credit line worth 20 billion yuan (USD 2.9 billion) for sci-tech financial services.
According to Yin, the Western European Dongguan Entrepreneurs Federation was founded in September, during which, representatives from WDEF and DIG attended the Frankfurt-held China (Dongguan)-Germany (Frankfurt) Economic and Trade Cooperation Conference and signed the framework agreements of two cooperative projects in healthcare with famous German corporations. It is expected that the World Dongguan Entrepreneurs Convention 2018 will attract more quality projects.
Today, Chinese and overseas businessmen are more inclined to invest in Dongguan, demonstrating marked progress in the city's endeavor to cultivate a business environment that is law-based, internationalized and business-friendly. Beyond that, more benefits are unlocked. This November, Dongguan rolled out a series of measures to ensure private companies enjoy quality development, which is expected to help Dongguan-based private businesses reduce about 30 billion yuan (USD 4.36 billion) in various costs and offer value-added services that are worth 50 billion yuan (USD 7.26 billion) in the coming three years.
On top of lowering costs and strengthening capacity, the city is providing more entrepreneurial opportunities and expanding market access on major fronts for those enterprises. It has introduced an array of policies so as to form a system that befits its quality development. All these positive signals are offering Dongguan entrepreneurs more advantages and business opportunities.
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|Publication:||Daily the Pak Banker (Lahore, Pakistan)|
|Date:||Dec 15, 2018|
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