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Guangdong will launch 10 key projects for high-quality trade development. A series of preferential measures will be implemented and benefit more and more trade enterprises. 

NEW PLAN FOR TRADE DEVELOPMENT

 

In order to promote high-quality trade development, Guangdong has recently published an action plan to develop the province into a trade powerhouse by 2025. 

 

There are two goals in the plan: 

• By 2022, the value of Guangdong’s import and export of goods will continue exceeding 7 trillion yuan, with an improved trade structure. 
• By 2025, a higher-level open economy system with new advantages in trade competition will be established. 

According to the plan, ten key projects will be launched in sectors of: 

• Digital trade (数字贸易工程) 

• New business models (贸易新业态工程) 

• “Guangdong Trades Globally” (“粤贸全球”品牌工程) 

• Exhibition promotion (展会提升工程) 

• Major trade platforms (重大贸易平台工程) 

• Industrial chain investment promotion (产业链招商工程) 

• Developing leading trade enterprises (贸易龙头企业工程) 

• Building a GBA International Consumer Hub (粤港澳大湾区国际消费枢纽工程) 

• Reform of customs clearance facilitation (通关便利化改革工程) 

• Innovation of trade and finance (贸易金融创新工程) 

It’s such good news for those who are doing business in Guangdong. The government will made and implement a series of preferential policies and measures for foreign trade enterprises in the province. 

 

 

 

10 KEY PROJECTS

 

01

Digital Trade 

Guangdong will pilot measures to encourage companies to popularize digital trade and intelligent management, with Guangzhou and Shenzhen as the main engines. 

 

02

New Business Models 

Guangdong will mainly cultivate new business models, including cross-border e-commerce, market procurement trade, offshore trade, and entrepot trade. 

 

The province will double the scale of new business models in five years, and export market procurement trade will exceed 500 billion yuan in 2025. 

 

To know more about market procurement trade, you can check the following link to read our posts: 

• New Forex Policies! China to Facilitate Forex Settlement 

• They All Trade in China in this way, and you? 

• 账户频遭冻结，与其四处求援，不如掌握新型收结汇方式1039市场采购贸易 

• 银行卡、微信大面积被冻结，外贸人怎样避免成为下一个“果冻”？

03

Guangdong Trades Globally 

Guangdong plans to hold over 100 online and offline exhibitions with the theme of “Guangdong Trades Globally” every year. 

 

By 2025, Guangdong will encourage over 10,000 foreign trade enterprises to participate in exhibitions, encouraging companies to expand major markets in ASEAN, Africa, Russia, Japan, and the United Kingdom. 

 

© Image | Nanfang Daily

 

04

Exhibitions Promotion 

Guangdong will upgrade the level of the Canton Fair and concentrate superior resources to level up certain fairs and exhibitions to be international high-end exhibitions, including: 

• China Hi-tech Fair 

• Guangdong 21st Century Maritime Silk Road International Expo 

• China Processing Trade Products Fair 

• China International SME Fair 

• China International Cultural Industries Fair 

• …

 

 

05

Major Trade Platforms 

Guangdong will continue developing the import trade promotion zone in Nansha of Guangzhou and promote the Special Customs Supervision Zones (SCSZs) and economic development zones. 

 

By 2025, the import and export volume of SCSZs and economic development zones above the provincial level will reach 1 trillion yuan. 

 

06

Investment to Industrial Chain 

Guangdong will encourage domestic and foreign investment to the entire industrial chain, especially around 20 strategic industrial chains, by compiling industrial investment maps, establishing industrial chain investment alliances, and improving the connecting mechanism between major transnational companies and provincial officials. 

 

07

Leading Trade Enterprises 

Guangdong will strive to attract at least ten more regional headquarters of multinational corporations. 

 

Also, the province will cultivate several global supply chain suppliers and leading enterprises of processing trade and OEM manufacturing with world-class manufacturing capabilities. 

 

 

08

GBA Int’l Consumption Hub 

Guangdong will accelerate developing international consumption center cities in Guangzhou and Shenzhen, layout regional consumption center cities, and initiate several duty-free shops at ports and downtown cities. 

 

09

Customs Clearance Facilitation 

Guangdong will carry out particular actions to facilitate cross-border trade and further promote port efficiency and fee reduction. 

 

© Image | China News

10

Trade Finance Innovation 

Guangdong will expand the scale of trade financing, carry out pilot projects in trade finance and build trade finance platforms. 

The province will support the development of financial innovation platform for supply chains in Dongguan and other places. 

 

 

 

We will keep following the updates on the preferential policies for foreign trade-related enterprises. Stay tuned! 

 

If you have any questions about doing business in China, please feel free to contact HACOS! 

In order to help you reach the latest update on the global pandemic situation, HACOS has set a quick link on the menu of our WeChat page. Follow us, you can check it whenever you want! 

 

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SOURCE | Guangdong Gov / 南方日报 / GD Today

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On May 20, HACOS Business Services will hold a special seminar to celebrate our company’s 7th anniversary and share business knowledge. Just check “read more” to join the event! 

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As China expands trials of the digital RMB, or e-CNY, in more cities and for various scenarios, it is reported that Alipay has launched a digital RMB solution for certain users. 

China has moved quickly in digital currency electronic payment, piloting the new money in several major cities and provinces since last year. 

 

We’ve posted several articles introducing digital RMB, you can check the following links to know more: 

• Digital RMB is Coming! Shenzhen Trials it with Lottery 

• Bye Bye Alipay and WeChat Pay! Digital RMB’s Coming! 

• You Can Transfer Money without Chinese Bank Card or ID Card Soon 

 

△ A payment terminal for digital RMB is exhibited at the China International Consumer Products Expo

 

Compared with the widely used WeChat Pay and Alipay, China’s digital yuan is issued by the People’s Bank of China, the central bank, and allows the government to have greater visibility in real-time transactions. 

 

© Image | CGTN

 

The trial has for the first time included a privately owned bank – Zhejiang E-Commerce Bank, where the Ant Group, e-commerce giant Alibaba’s financial technology arm, has the largest share. 

 

According to some media reports, Alipay is now available in China’s digital RMB sub-wallet, allowing the transaction of the digital RMB as a payment solution. 

 

△ Alipay users can pay with digital wallet

Currently, the new feature is not accessible to all users on Alipay since the company is performing alpha test. Those who are able to use it can create a wallet linked to Zhejiang E-Commerce Bank. The wallet can be used anonymously. 

 

△ A screenshot of the sign-up page shows that users can use the digital wallet anonymously. 

China’s six largest State-owned commercial banks have all opened digital wallets on the app, including: 

• Industrial and Commercial Bank of China 

• Agricultural Bank of China 

• Bank of China 

• Bank of Communications 

• China Construction Bank 

• Postal Savings Bank of China

 

Recently, the digital wallets offered by these six banks have added applications to pay digital currency to e-commerce platforms such as food delivery service Ele.me. 

 

At the annual conference in April of the Boao Forum for Asia, Li Bo, vice-governor of the People’s Bank of China, the central bank, said the authorities are planning to expand trials of the digital yuan, or e-CNY, in more cities and for various scenarios. 

 

△ A visitor bought a cup of coffee with digital currency at China’s Consumer Products Expo. 

 

“For example, in the pilot program for the 2022 Beijing Winter Olympics, the digital yuan will not only be offered to domestic users, but also to international users,” Li said. 

In order to help you reach the latest update on the global pandemic situation, HACOS has set a quick link on the menu of our WeChat page. Follow us, you can check it whenever you want! 

 

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SOURCE | China Daily / CGTN / Yahoo

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Macao has introduced facilitation measures on foreigners’ travel between Chinese mainland and Macao, enabling certain groups of foreigners to enter with approval. 

 

Starting from May 5, entry requirements for eligible foreigners travelling between Chinese mainland and Macao have been lifted, according to Executive Order No. 71/2021 of Macao SAR. 

 

The Macao SAR government announced the news on Tuesday during a regular press conference of the Novel Coronavirus Coordination and Response Centre. 

 

 

 

ELIGIBLE SCOPE

 

The measures apply to foreigners meeting the following conditions:

• Enter Macao for the purpose of reunion with family members or having close connection with Macao; 

• Have not travelled to any place outside either Chinese mainland or Macao in the 21 days prior to the intended arrival to Macao. 

 

 

NEW MEASURES

 

The updated rule lifted a requirement for such eligible foreigners to stay on the mainland for 21 days before being able to return to Macao. 

 

△ Chief Executive’s Dispatch no. 71/2021

 

For example, an eligible foreign passport holder who does not have a Chinese mainland visa issued by the Office of the Commissioner of the Ministry of Foreign Affairs of the People’s Republic of China in the Macao SAR, may return to Macao – under the new rule – without being required to stay on the mainland for 21 consecutive days. 

 

In view of the updated rule, the Health Bureau website has added a link to the new application system for entry by foreigners: 

• https://www.ssm.gov.mo/faen

 

 

CURRENT QUARANTINE MEASURES

 

Macao still requires most of the arrivals to undergo medical observation. The whole period depends on where the arrivals have been to.

 

All arrivals who have been to the following countries/regions within the past 28 days prior to their entry into Macao must, at the discretion of the health authorities, undergo medical observation for 28 days at designated venue: 

 

All arrivals who have been to the following countries/regions within the past 14 days prior to their entry into Macao must, at the discretion of the health authorities, undergo medical observation for 14 days at designated venue: 

 

All arrivals who have been to the following countries/regions within the past 21 days prior to their entry into Macao must, at the discretion of the health authorities, undergo medical observation for 21 days at designated venue and observe self-health management measures for at least 7 days: 

 

You can check the latest entry policies and other information related to epidemics issued by Macao government via the special webpage: 

• https://www.ssm.gov.mo/apps1/PreventCOVID-19/en.aspx#clg17458

We will keep following the updates on the latest entry policies and flight schedule. Stay tuned! 

 

If you have any questions about coming to China, please feel free to contact HACOS! 

In order to help you reach the latest update on the global pandemic situation, HACOS has set a quick link on the menu of our WeChat page. Follow us, you can check it whenever you want! 

 

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SOURCE | Macao Gov

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