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Guangdong Scraps Processing Trade Approval

Guangdong has released an implementation plan aiming to stabilise foreign trade. The plan clearly stipulates the abolition of approval of processing trade in the province, while supporting land vacated as a result of processing trade gradient transfer to be changed to commercial, tourism and elderly care uses with approval.

The plan calls for the promotion of innovative development of processing trade. Echoing the national policy, it seeks to eliminate approval for processing trade in the province. Reform measures featuring "Internet + processing trade and domestic sales facilitation" are to be launched to simplify and regulate management in domestic sales of processing trade scraps and finished products. Transformation and upgrading of processing trade is to be further promoted to guide processing trade enterprises to strengthen technological innovation, research and innovation and nurture their own brands.

Meanwhile, demonstration zones for certain innovative development of processing trade and undertaking gradient transfer are to be fostered to guide the innovation-driven development of processing trade in the Pearl River Delta and help processing trade in eastern, western and northern Guangdong bigger and stronger. Among this, support is given to change land vacated as a result of processing trade gradient transfer to other uses such as commercial, tourism and elderly care subject to approval.

In addition, land transfer prices of industrial land legally obtained by processing trade enterprises can be paid by installments according to contracts. Reserve price for land of land-intensive industrial projects falling under Guangdong’s priority industries may be determined at not less than 70% of the relevant standards.

In order to stabilise foreign trade, the plan also proposes to implement a proactive import policy. The plan calls for promoting commodities and consumer goods imports, opening up the operation of large specialised terminals in cities such as Guangzhou, Zhuhai, Shantou, Yangjiang, Zhanjiang and Jieyang, as well as expanding imports of bulk goods such as coal, oil and gas, minerals and food.

Content provided by Picture: HKTDC Research
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