As a high and new tech Industrial Park which was first founded in September 1988, Hubei Yichang Economical Development Zone is the first development zone built at its own expenses, thus made it a base of national key industry transferring , and national pilot garden on circular economy. It also has national high and new tech innovation service center and national intellectual property exhibition and trading platform. Currently, there are four major industrial parks: Hubei Shenzhen Park, Dongshan Park, Xiaoting Park and Baiyang Park. The four major parks, covering the total planning area of 100 square kilometers including 54 square kilometers’ developed and developing areas, have a population of 150,000, over 800 foundation sectors and more than 100 industrial enterprises.
The development zone consists of six industrial parks.
Dongshan Industry Park, adjacent to the center, covers a total planning area of 11.2 square kilometers. It has several key enterprises, namely, Hangzhou Beingmate Group Co., Ltd., Ningbo Peacebird Group Co., Ltd., HK Jinbao Music Instrument Manufacture Co., Ltd., Wuhan Humanwell Pharmaceutical Co., Ltd., China Shipbuilding Industry Corporation Haisheng Technology Co., Ltd., Zhongnan Equipment Company Ltd., Yichang HXF Circular Saw Industrial Co.Ltd., SMDERI ( Shanghai Marine Diesel Engine Research Institute) and 14 other national R＆D institutions, China Three Gorges University and 10 other comprehensive colleges and universities. This industrial park has developed hitherto the leading industries including Biomedical, New materials, Optical, Medical and Electrical Integration, Light Industry Food. It is the core area of Yichang new and high technology industry, R＆D Institute and modern service industry, self- innovation demonstration area and the reform experimental area of strengthening the city through human resource development.
Located in Xiaoting District of the Yichang City, Xiaoting Industrial Park, with a total area of 25 square kilometers, benefits much by the Yichang Three Gorges Airport, the Yunchi Deep Water Harbor and the Yichang-Huangshi and Shanghai-Chengdu Expressways which pass through the whole district. Focusing on the fine phosphorus chemical industry, ships and machinery manufacturing, new materials and some leading industries, it is the national top-ranking Phosphorus Fine chemical and industrial park and circular economy industrial park. This park involves the world largest Pentaerythritol manufacturing enterprise-Hubei Yihua Chemical Industry Co., Ltd., the SHMP Manufacturing Industry-Xingfa Group, and the first Kiln-process Phosphoric Acid Manufacturing Enterprise-Hubei Sanxin Phosphoric Co Ltd. The output value of this park will exceed 100 billion Yuan (16 billion U.S. dollars) in 2015.
Located in the eastern suburb of Yichang, Hubei Shenzhen industrial park, with a total area of 35 square kilometers, was authorized to establish in 2008. It is the most essential park along the Yangtze River and a key platform for the transferring industry around the Pearl River Delta Regions. This park boasts of the largest ultrathin coated and galvanized plate manufacturing enterprise-Yichang Three Gorges Quantong Coated Plate Co., Ltd. the most important Polycrystalline Silicon Manufacturing Enterprise-Yichang CSG Polysilicon Co., Ltd., the most advanced Submarine Ultra-High Voltage Cable Manufacturing Enterprise-Yichang Lianbang Cable Co., Ltd., and the Automobile Manufacturing Enterprise together with the earliest independent intellectual property rights of making Pickup Truck-Zhongxing Automobile Manufacturing Co., Ltd. Five special industrial parks, with a total volume of over 50 millionYuan (8 million U.S. dollars) , are under construction, namely, advanced equipment manufacturing, new energy, automobile and accessories manufacturing, electrician, electric cables and biotechnology. The output value of this park will reach 200 billion Yuan (32 billion U.S. dollars) by 2015.
Close to the Yangtze River, Baiyang Industrial Park is situated in Zhijiang County, where the Beijing-Zhanjiang Railway passes through north-southwards. In 2007, the provincial government formally approved to set up Baiyang Industrial Park with a planning area of 80 square kilometers. Industrial Park focus on Fine Chemical Industry, New Materials, and advanced equipment manufacturing industry; and it is a full-functional modern ecological industrial park that merges Scientific Research on Incubation, Manufacture Industry, and Business Service into a whole. At present, it boasts the Sanxin Company, the leader in Craft Field, which has independent intellectual property rights and a total investment volume of 3.5 billion Yuan (5.6 billion U.S. dollars) . By the end of the 12th Five Year Plan, the annual industrial output value will reach 100 billion Yuan (16 billion U.S. dollars) ; and the value will exceed 500 billion Yuan (80 billion U.S. dollars) upon its full completion.
Wuhan National Bio-industry Base-the Yichang Industry Park, seated in the eastern part of the city, was set up in 2010, with a planning area of 20 square kilometers. Merging R＆D, Incubation, Production, and Services into a whole, it is the ecotype biological industrial park covering four major functional areas of Biomedical, Biological Manufacture, R＆D Incubation and Public Service. Currently, the Angel Yeast Co., Ltd-the Asian largest group of R＆D on AADY, National narcotic drugs designated production enterprise-The Humanwell Pharmaceutical Co., Ltd. have found their profitable opportunities in this industrial park. The output value will hit 100 billion Yuan (16 billion U.S. dollars) upon the completion of this park.
Dianjun Magnetic Electronics Industrial Park is located in the south of Yichang City with a planning area of 5.4 square kilometers. It is the new and high-tech industrial park of strategic emerging industries focusing on electronics, magnetic electronics, metal materials and high-tech industries in Yichang.
To facilitate people who want to invest and
set up company in Yichang Hi-tech Industry 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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