Facts & Figures (2013)
| Rating | A |
| Year of Establishment | 1991 |
| Land Area | 73 km2 |
| Location | Chongqing |
| GDP | RMB 26.1 billion, 20.3% up |
| FDI | N.A. |
| Utilized FDI | US$21.71 million (Jan-May 2013) |
| Major Investors | Honeywell, Chongqing Hongsheng New Thought Information Industry, Chongqing Hifu Technology, Chongqing Duke Enterprises, Chongqing Lifan Industrial, Kingdee |
| Major Industries Encouraged | Information technology, bio-pharmaceuticals, new materials, mechanical and electronic integration |
Introduction
Chongqing High-tech Industrial Development Zone (Chongqing HIDZ) was approved and established by the State Council in March 1991 as a state-level development zone.
Three subsidiary zones, Shiqiaopu High-tech Development Zone, Erlang Science and Technology New Town, and Chongqing High-tech Industrial Development Zone (Northern Zone), fall under the jurisdiction of Chongqing HIDZ.
Shiqiaopu High-tech Development Zone and Erlang Science and Technology New Town are located in the southern part of Chongqing while the 50-sq km Chongqing High-tech Industrial Development Zone (Northern Zone) is 7 km north of Chongqing's downtown, 20 km from Jiangbei International Airport and 6 km from the railway station.
Chongqing is rich in advanced human resources. It has 67 colleges and universities that produced 137,600 graduates in 2012. Four key national-level laboratories and five national-level engineering research centers are also located in the city. These institutions are able to provide plenty of highly skilled talent for the development of Chongqing HIDZ.
Investment Climate
Chongqing HIDZ's pillar industries are information technology, biopharmaceuticals, new materials, and mechanical and electronic integration. There are approximately 4,000 science and technology enterprises registered with Chongqing HIDZ, 200 of which are high-tech enterprises. In the first five months of 2013, the utilised FDI hit US$21.71 million. In 2012, the zone's GDP reached RMB 26.1 billion, accounting for 2.3% of the city's total.
Representative firms in the pillar industries include Chongqing Hongsheng New Thought Information Industry, Chongqing Huapont Pharmaceuticals, Chongqing Duke Enterprises and Chongqing Lifan Industrial.
In 2012, Chongqing HIDZ introduced 57 new projects with contracted investment of RMB 15.5 billion. While its fixed assets investment for 2012 increased 40.4% year on year to RMB 15.5 billion.
Winning Edges
- Chongqing is the National Software and Service Outsourcing Demonstration City, which is beneficial to the development of Chongqing HIDZ's information technology industry.
- The zone has a well-developed transportation system.
- The surrounding area has an abundance of human resources with a comprehensive range of skills and talents.
- Chongqing has low labor and land costs.
Limitations
- The zone faces strong competition from the many development zones in Chongqing.
- Chongqing faces competition from Chengdu in terms of attracting investment.
The Administration Committee
Address: No. 166, Shiqiaopu Keyuanyi Road, Chongqing, P.R. China 400039
Tel: 86-23-68601972
Fax: 86-28-68606272
Tel: 86-23-68601972
Fax: 86-28-68606272
Source of Facts & Figures: Chongqing HIDZ
To facilitate people who want to invest and set up business in Chongqing HIDZ , here is an introduction of Types of business presence in China:
Before starting up a business in China, you have to know what are the options. Foreign Investors generally establish a business presence in China in one of five modes: Wholly Foreign Owned Enterprise (WFOE); Representative Office; Foreign Invested Partnership Enterprises (FIPE); Joint Venture and Hong Kong Holding Company.
Wholly Foreign Owned Enterprise (WFOE) is a Limited liability company wholly owned by the foreign investor. WFOE requires no registered capital and it's liability of equity , can generate income, pay tax in China and it's profit could be repatriate back to investor's home country. Any enterprise in China which is 100 percent owned by a foreign company or companies can be called as WFOE.
Representative Office (RO) is a Liaison Office of it's parent company. It requires no registered capital. It's activities would be: product or service promotion, market research of it's parent company's business, Quality Control liaison office etc in China. RO generally is prohibited to generate any revenue nor generating contracts with local businesses in China.
Joint Venture (JV) is a Limited liability company formed between Chinese investor and Foreign investor. The parties agree to create a entity by both contributing equity, and they then share in the revenues, expenses, and control of the enterprise. JV usually been used by foreign investor to engage the so called restricted in areas such like: Education, Mining, Hospital etc.
Since March 1, 2010: Measures of Establishment of Foreign Invested Partnership Enterprises (FIPE) in China istaking effect. The regulation, which take effect since March 1, 2010, are known as the Administrative Measures for the Establishment of Partnership Enterprise in China by Foreign Enterprises or Individuals. There's no required minimum registered capital for a Foreign Invested Partnership Enterprise (FIPE) in Shanghai, Beijing, Guangzhou, Shenzhen, Hangzhou and rest cities of China
Hong Kong Company usually been used as a Special Purpose vehicle (SPV) to invest Mainland China. Hong Kong is one of the quickest locations to Incorporate a business. Although a HK company is not a legal entity in Mainland China (Mainland China and Hong Kong, See Wiki 1 country, 2 systems), lots foreign investors, especially investors from Europe and North America still chose to setting up a Hong Kong company as SPV to invest China.
After China's entry to WTO, most industries in China welcome foreign investment, WFOE setting up in China becomes the first option of foreign investment's entity structures instead of Rep. Office setting up in China. At the mean time, for tax purpose, effective licensing system etc more and more investors use Hong Kong as the holding company to invest China mainland, using this offshore company to hold their operations in China.
Business set-up in Chongqing is a big project by itself, which requires financial and time commitments, business management knowledge and China expertise. Identifying a competent agent to manage the complex process will be a cost and time effective way to avoid potential pitfalls . Tommy China Business Consulting has direct connections in the local government
Since 2006, TCBC has been focusing on consulting services for our clients to invest in Chongqing China. We are specialized in establishment of wholly foreign owned enterprises (WFOEs), setting up of offshore companies, trading services, tax minimization, Assist in obtaining government approvals and certificates for running business, negotiate and draft various legal documents provide legal advice, negotiate government officer for Land acquisition. Advising on formation of WOFE and business structures, managing and controlling WOFE in Chongqing China, drafting privacy policies and structuring commercial transactions
TCBC will manage all aspects of incorporation to get you a business license in Chongqing China. We offer a range of company formation services including helping you to set up:
-Wholly Foreign Owned Enterprises (WFOE )
-Joint Ventures (Equity/Co-operative)
-Foreign Invested Partnership Enterprises (FIPE)
Contact Tom Lee for company registration in Chongqing HIDZ now
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