Guangdong’s government has announced three action plans that are aimed at optimising the region’s business environment by making it more market-oriented, law-based and internationalised.
At a press conference reported by Chinese media on Monday, local authorities discussed each of the three plans, which collectively consist of 50 measures.
Made up of 18 measures, the market-oriented proposal seeks to improve Guangdong’s industrial system, while also boosting services for enterprises and optimising the market system.
As part of the plan, the government is looking to strengthen guarantee measures in areas such as land and talent, lift the service quality level of business-related approvals, and improve the level of market-oriented trading of property rights.
A plan designed to refine the legal framework of Guangdong’s business environment was also introduced. Through 18 measures, the proposal seeks to provide comprehensive legal guarantees for entities engaged in manufacturing.
At the same time, officials hope that the plan can create a fair and efficient judicial environment, strengthen business-related legal services and enhance the institutional framework in a business context.
A third plan pertained to the internationalisation of Guangdong’s business sector. Consisting of 14 measures, the initiative is meant to align with the region’s development needs in terms of foreign trade and border crossings.
It also aims to introduce measures that facilitate international trade, investment and exchanges, while also improving cooperation within the Greater Bay Area (GBA) and promoting cosmopolitan living.
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In terms of enhancing ties within the GBA, Chen Xudong, the director of the Guangdong Provincial Justice Department, pointed out that the measures would include the advancement of rules and mechanisms promoting regional “soft connectivity,” a term used to refer to people-to-people exchanges and integration in policies and standards.
To this end, Guangdong will double down on the implementation of its Special Legislative Plan for the GBA (2024-2027), introduce guidelines promoting GBA business mediation and strengthen regulations related to GBA cooperation.
According to Hu Hong, the deputy secretary-general of Guangdong’s provincial government, the three actions plans are differentiated from past initiatives, as their formulation was “characterised by four enhanced focuses.”
These areas of focus revolve around “the systemic coordination of business environment reforms,” “delivering tangible benefits and a perceptible sense of improvement for businesses,” “ensuring that institutional supply keeps pace with evolving realities” and “openness, inclusivity and international alignment.”
This is not the first time that Guangdong has launched policy plans to strengthen its business environment, as a 3-year action plan consisting of 39 measures was introduced back in 2023 for this purpose.
