A bank registration system for Macau investors intending to operate businesses in Guangdong province was launched last week.
The platform was co-created by the Guangdong Province Administration For Industry and Commerce and China Guangfa Bank.
The system allows Macau investors to name the Macau branch of a mainland Chinese bank as trustees to represent them for commercial registration in Guangdong province. The bank would provide this service free of charge.
Wu Ben Peng, an officer from the Guangdong Province Administration For Industry and Commerce, introduced the scheme to around 150 people who attended its launch.
Wu said the service will initially be available to Macau investors who are looking at businesses in Foshan, Zhongshan, Jiangmen, and Hengqin.
The service will be rolled out to the entire Guangdong province once other conditions have been met.
Until then, regardless of where in Guangdong Macau investors plan to invest, they can register their operating licenses through the Macau branch of China Guangfa Bank.
There are now 4,421 Macau enterprises operating in Guangdong, with a total registered capital of USD14.78 billion. Both figures increased compared to last year, with growth of 21.56 percent and 88.64 percent, respectively.
Wu said there are 1,059 individual businesses from Macau operating in Guangdong, with total capital of RMB7.54 million.
The number of individual businesses and the amount of capital involved also increased 16.37 percent and 22.34 percent, respectively, compared to last year.
Gloria Ung, executive director of the Macau Trade and Investment Promotion Institute (IPIM), said the launch enabled Macau’s Small- and Medium-sized Enterprises (SMEs) to understand the registration process better.
She expressed her hope that more local companies will participate in regional cooperation.
Ma Iao Lai, president of the Macau Commercial Association, believes that this new service makes Guangdong and Macau more attractive to investors, and modernizes both regions’ commercial environments.
Ma added that the new system decreases operational costs for Macau enterprises, especially for SMEs, in Guangdong province.
“It [has] strengthened Macau’s platform for overseas enterprises to enter [the] mainland market,” said Ma.
Zhang Wenxian, deputy director of Guangdong Province Administration For Industry and Commerce, said 6.23 million businesses have registered in Guangdong over the past five years, including the aforementioned number of Macau enterprises.
Guangdong has the most registered enterprises of all the provinces in mainland China. JZ
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