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GDD's efforts in reforming business environment recognized

Updated : 2019-12-27

Guangzhou Development District's (GDD) practices in being the pilot zone in Guangdong province to carry out business environment reform was shortlisted as the 2019 annual China reform case by China Reform magazine.

GDD's case stood out among more than 700 cases from 200 cities in over 20 provinces and municipalities, becoming the only one of its kind from Guangdong province to be shortlisted.

GDD has taken the lead in China in launching a convenient and fast administrative service examination and approval system, making it one of the areas in China to allow people to handle affairs with the best processes, the simplest materials, the least costs, and the shortest time periods.

Precise industrial policies and a series of preferential policies have been released by GDD to promote supply-side structural reform and to bring more benefits to local companies, boosting their creative vitality.

In order to attract more high-caliber talents to the district, GDD has taken measures to provide them with sizable subsidy for the elderly and exemplary educational facilities for their children.

As GDD has clustered more than 20,000 privately-owned small and medium companies, the district has implemented a series of 18 policies to support the development of the private sector economy.

In 2018, GDD realized an overall tax reduction of 16 billion yuan ($2.29 billion) for local companies as a result of GDD's efforts of establishing a local business environment using standards from advanced economic regions like Singapore and Hong Kong. 

A number of key intellectual property (IP) projects and service institutions have been introduced in GDD, making the district possess the most abundant and the most complete high-end IP resources in China.

The district has paid great attention in participating in the construction of the Guangdong-Hong Kong-Macao Greater Bay Area. For example, Guangzhou International Bio Island has been designed as a cooperation area for life sciences in the Greater Bay Area, as well as a world leading research and development center for biological medicine.

GDD has also launched a 24-hour clearance model at its shipping port, being the first in China, saving more time for companies.

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