Taking advantages of the opportunities of the reform and opening policy, the Hubei Gedian Economic and Technological Development Zone was approved to establish by Hubei Provincial Government in 1990--the first development zone in Hubei province.
In July of 2012, approved by the State Council of P.R.C., Gedian Economic and Technology Development Zone was upgraded into a national-level development zone.
Gedian Economic and Technology Development Zone has jurisdiction over one town, twenty-six administrative districts, five neighborhood committees, one farm and one academy of agricultural sciences, covering a total area of seventy-six square kilometers.
Regional Advantages
It is 23km away from Wuhan and located in the middle part of Yangtze River. Gaoxin Highway, Wujiu Railway, Wuhuang Highway, No. 316 National Road, Ehan Highway, Wujiu Railway and Beijing–Shanghai High-Speed Railway cross the development zone. It only takes ten minutes’ interurban light railway from Gedian Development Zone to the commercial center in Wuhan Optical Valley, twelve minutes’ drive to Wuhan New Railway Station and forty minutes’ drive to Wuhan Tianhe International Airport.
Business Environment
Ezhou Power Station and a water plant have been built in the zone. Hubei Hi-tech Development Zone and China Ezhou Postdoctoral Researcher Base have also been set up here. Baihushan Foreign Trade Port lies in the west of the development zone, which makes shipment directly to Hongkong, Japan and Southeast Asia. And 5,000 - ton seagoing vessels can docked here all year long.
Industy Features
Nearly 30 large or medium-sized pharmaceutical enterprises have been set up in Gedian such as Spring Biological Engineering Stocks Co. Ltd., Human Well Pharmaceutical Co. Ltd, An Zhi Pharmaceutical Co. Ltd, Kang Yuan pharmaceutical Co. Ltd, Haosun pharmaceutical Co. Ltd. etc. The first group of well-known multinationals have invested here, which are Ball Asia Pacific Ltd., The China Paint Mfg. Co. (Hong Kong) Ltd., Owens Corning, Xingda Group, and ASUSTek Computer Inc. More than 20 universities’ high and new technology are quickly being turned into productive forces there, including Wu Han University, Huazhong University of Science & Technology, Chinese Geology University, Hubei Research Institute of Chemistry etc.
Innovative enterprises group has been established under the idea of “researching and developing in Wuhan, producing in Ezhou.”& “Headquartering in Wuhan, carving out in Ezhou”. Gedian Development Zone has been approved as a medical industry base by Hubei provincial government; a bio-engineering and new drugs base by the Science &Technology (S&T) Ministry of China.
With a unique location advantages, favorable investment environment, and efficient administrative services, Gedian Development Zone has attracted a large number of projects from more than 20 countries and regions as the United States, Canada, Britain, Japan, Malaysia, Hong Kong and Taiwan.
Detail Information
Investment Promotion Dept.: Economic Development Bureau
Higher Authority: The People's Government of Ezhou, Hubei
Address: East Part, Gedian Town, Ezhou, Hubei Province
Postcode: 436070
Tel: 0711-3811208
Fax: 0711-3811201
E-mail: gdkfqxx@126.com
To facilitate people who want to invest and
set up company in Gedian Economic and Technology Development Zone, 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 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. No.
minimum registered capital is required for WFOEs with scope of business of
consulting, Trading, retailing, information technology etc. in China. There are
minimum registered capital still required for some industries for instance:
Banking, Forwarding etc Since China still maintains foreign currency control
policy, it's still advisable to choose registered capital within RMB 100,000 ~
RMB 500,000 as the minimum registered capital. Companies can now determine how
much capital will be required to maintain their operations and must simply
ensure that they meet those targets within a period of 10 years.
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 is taking 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, Hubei, 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
(MainlandChina 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 Hubei 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
Since 2006, Tommy China
Business Consulting has been focusing on consulting services for our
clients to invest in Hubei 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 Hubei
China, drafting privacy policies and structuring commercial transactions
TCBC will manage all aspects of
incorporation to get you a business license in Hubei 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)
Please visit:http://www.tommyconsulting.com/CorporateFormation.html
Email: tomlee@tommyconsulting.com, Skype:
tomleeli
WhatSapp/Wechat/Cell Phone: +86 18926401128
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