Facts & Figures (2013)
| Rating | BB |
| Year of Establishment | 2002 |
| Land Area | 11 km2 |
| Location | Chongqing |
| GDP | RMB 27.5 billion |
| FDI | N.A. |
| Utilized FDI | N.A. |
| Major Investors | Haier, China International Marine Container, Chang'an Kuayue Automobile |
| Major Industries Encouraged | Electrical appliance manufacturing, equipment manufacturing, automobile and auto parts |
Introduction
Chongqing is the home city of Chongqing Gangcheng Industrial Park (Chongqing Gangcheng IP). It is one of the four provincial-level municipalities in China as well as the transportation hub of the country's southwestern region.
Chongqing Gangcheng IP was approved and established by the Chongqing municipal government in 2002 as a municipal-level development zone. It consists of zones A, B, C and D. The A zone is used mainly as a mechanical and electronic industrial park while zones B and C are principally used as storage and logistic parks. The D zone is a park for small and medium-sized enterprises.
Chongqing Gangcheng IP has a convenient transportation system. It is adjacent to the Yangtze River and Chongqing Export Processing Zone. State Highway 319 and State Highway 210 pass through the park. It is within an 8-minute drive of Chongqing Jiangbei International Airport. In addition, Chongqing Tangjiatuo Station, a freight railway station with an annual cargo throughput of 3 million tons, is located in the park.
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 Gangcheng IP.
Investment Climate
Chongqing Gangcheng IP's pillar industries include electrical appliance manufacturing, equipment manufacturing and automobiles and auto parts. There are approximately 110 enterprises in the zone. Representative firms include Haier, China International Marine Container and Chang'an Kuayue Automobile. In 2013, the gross industrial output value hit RMB 27.5 billion.
Haier, China's top white goods producer, has invested RMB 2.8 billion in building its 15th global industrial park in Chongqing Gangcheng IP. Its products include central air conditioning units, home air conditioners, TVs, water heaters, washing machines and refrigerators. In 2012, Haier contributed RMB 15 billion to the park's gloss industrial output, accounting for about half of the park's total.
In 2012, the gross industrial output value of the park amounted to RMB 28.3 billion, including RMB 16.5 billion from its electronics industry and RMB 6 billion from its equipment manufacturing industry.
Winning Edges
- Chongqing has a well-developed transportation system.
- Chongqing has abundant human resources with a comprehensive range of skills and talents.
- Chongqing's labor and land costs are low.
- The zone is strong in the manufacturing of electronic and mechanical products.
Limitations
- The zone faces strong competition from the many development zones in Chongqing and Chengdu, the capital of Sichuan Province.
- It is a municipal-level industrial park, not a state-level development zone. It may have fewer preferential policies than state-level zones.
The Administration Committee
Address: No. 22, Gangcheng South Road, Jiangbei, Chongqing, P.R. China 400026
Tel: 86-23-67756565/ 67731222
Fax: 86-23-67735111
Tel: 86-23-67756565/ 67731222
Fax: 86-23-67735111
Source of Facts & Figures: Chongqing Gangcheng IP
To facilitate people who want to invest and set up business in Chongqing Gangcheng Industrial Park, 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 Gangcheng Industrial Park now
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