The Guangdong Administration Bureau for Industry and Commerce (GABIC) has rolled out the Bank Securities Link for investors from both SARs who are interested in investing in Guangdong Province, according to a press release posted by the Chinese department.
The new policy allows a one-stop service of business registration which will significantly reduce the required registration time period from 32 working days to 11, and as such produce great benefits for the development of the Greater Bay Area Co-operation between regions.
Currently, the new service will be available in Foshan, Huizhou, Dongguan, Zhongshan, Jiangmen and Shantou as pilots.
The policy was jointly established by GABIC with the Macao Trade and Investment Promotion Institute (IPIM), China Gaungfa Bank, and with the assistance of the Macao Chamber of Commerce earlier in May.
According to the press release, as at the end of June, a total of 58,200 firms from Hong Kong and Macau had invested in Guangdong Province, accounting for 62.56 per cent of the total foreign investment in the province.
Meanwhile, there were 8,419 self-employed individuals from the SARs in Guangdong, with the capital amount at RMB705 million, accounting for 70 per cent of the country’s capital of self-employed individuals.