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MOU signed between GZ, HK to facilitate business cooperation

08/26/2021 Source: newsgd.com

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Guangzhou Administration for Market Regulation has recently signed an agreement with Hong Kong Trade Development Council in a bid to further communication and market integration between the two regions.

(Photo / Nanfang Daily)

According to the agreement, the two sides will strengthen commercial service cooperation in seven aspects, which include: promoting platform construction, opening up channels for market entry, providing consultation on business policies and regulations, strengthening the connection of business regulations between Guangzhou and Hong Kong, assisting Hong Kong enterprises to start up in Guangzhou, helping enterprises in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) to expand business opportunities, and establishing long-term cooperation mechanisms.

The agreement emphasizes the importance of "GoGBA toolkit", a one-stop online platform designed to provide useful official information on regulations, procedures and networks. It is now an information hub for small- and medium-sized enterprises in Hong Kong as well as other cities within the GBA.

The platform also offers a link to Guangzhou's official website for starting businesses, which enables online business registration for Hong Kong applicants.

Moreover, the agreement lowers requirements for business registrations to encourage Hong Kong entrepreneurs to start businesses in Guangzhou. Hong Kong individual businesses in Guangdong are likewise welcome to transform into enterprises.

Guangzhou and Hong Kong have agreed on holding online seminars on business policies and environment at irregular intervals, which are meant to spread timely information to enterprises, and integrate business regulations of the two regions. Some business activities relating to Guangdong-Hong Kong cooperation are also on their way and will help to create more opportunities for enterprises.

Author: Ray (intern)

Editor: Will, Jerry