Nansha’s business environment improved in 2018 especially when it comes to indicators such as starting a business and enforcing contracts, according to a KPMG report released on April 3rd during the ongoing Guangzhou Annual Investment Conference (GAIC).
The report adopts the methodology of Doing Business, a World Bank project working to provide a way to assess business regulations and their enforcement across 190 economies and selected cities. Nansha’s business environment looks set to rank 29th worldwide based on KPMG’s assessment.
Cai Chaolin, Party Chief of Nansha [Photo provided to Newsgd.com]
This improvement can be attributed to a variety of measures Nansha implemented to reduce time and cost in resolving business problems. For example, the district improved utilities connection through simplifying the application procedures, lowering the application threshold and strengthening infrastructure.
Nansha is beginning to enjoy enormous opportunities brought about by the construction of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) as it will be developed as a pilot district for cooperation between Guangdong, Hong Kong and Macao based on the GBA Development Plan, said Cai Chaolin, Party Chief of Nansha at the district’s sub-forum during the GAIC.
“To push forward cooperation, Nansha is dedicated to a legalized and convenient business environment that meets international standards,” said Cai Chaolin, “We have been putting a great deal of effort into improving public services, optimizing the transportation network, and fostering industrial clusters in fields such as innovative tech, international shipping, cross-border trade and Fin-tech.”
The signing ceremony between Commercial Bureau of Nansha Development Zone and COSCO SHIPPING Ports Limited (CSP)[Photo provided to Newsgd.com]
Calvin Choi, Chairman and President of AMTD, one of the largest Hong Kong-based groups for non-bank financial institutions, said HK residents have gained more knowledge about Nansha due to close cooperation in recent years. Nansha has become one of the premier choices for Hong Kong entrepreneurs to start their business in Chinese mainland as the district’s transport network has become increasingly sophisticated.
“Our company entered Nansha in 2016 and has been working to strengthen communication between entrepreneurs in Guangdong, Hong Kong and Macao,” said Choi, “we are applying for the securities license in Nansha and expect to have more opportunities for a wider range of business in the Greater Bay Area as the GBA development plan indicates that a more open financial environment will be established in the future.”
During the sub-forum, a project worth RMB 1.1 billion was also signed between Commercial Bureau of Nansha Development Zone and COSCO SHIPPING Ports Limited (CSP) a world-leading port operator.
According to the agreement, CSP will build a supply chain platform in Nansha to develop various businesses such as cross-border e-commerce, auto parts and accessories distribution, and the extension of port supply chain. Phase I of the project will cover a construction area of about 254,000 ㎡ and consists of warehousing, comprehensive service areas and supporting facilities.
Nansha’s sub-forum attracted representatives from Fortune 500 companies such as China Railway Group, Evergrande Group and China Resources Holdings, and high-tech enterprises including Cloudwalk and Pony.ai. Representatives from foreign consulates in Guangzhou also attended the forum.
Pony.ai's self-driving car is presented at the GAIC.[Photo provided to Newsgd.com]