Guangzhou economic zone tops national business environment rankings for 5th year

The 21st Century Economic Research Institute recently released the National Economic and Technological Development Zones High-Quality Development Report 2023, showing that the Guangzhou Economic and Technological Development Zone (part of Huangpu district) ranked first in the national business environment evaluation for the fifth consecutive year.

The report comprehensively assessed the development zones based on various indicators, including market capacity, soft environment, business costs, and infrastructure convenience. The Guangzhou Economic and Technological Development Zone, with a GDP of 364.51 billion yuan (54.68 billion), leads the national development zones, demonstrating its significant role in regional economic development.

The success of the Guangzhou Economic and Technological Development Zone stems from its innovations and reforms in various aspects. The zone pioneered a series of administrative licensing reforms regarding government services, including a customized approval service system and the "Industrial Fast Approval" policy. 

In innovation and entrepreneurship, the zone has established a comprehensive strategic innovation platform cluster and a system for nurturing small and medium-sized enterprises (SMEs). It also issued the nation's first pure patent and trademark intellectual property securitization products, demonstrating its leadership in intellectual property rights.

In terms of factor supply, the zone innovated in land management, trialing flexible industrial land allocation, and promoted the transformation of industrial park power supply, effectively reducing operational costs for businesses.

In legal protection, the zone advanced the construction of a credit system, implemented inclusive and prudent regulation, and promoted compliant business operations. Regarding opening up, the zone is actively integrated into the development of the Guangdong-Hong Kong-Macao Greater Bay Area. It promotes the mutual recognition and communication of intellectual property rights between Guangdong, Hong Kong, and Macao.

These innovative measures have enhanced the region's business environment and contributed valuable "Huangpu Experience" to national and provincial business environment reforms. Looking ahead, the Guangzhou Economic and Technological Development Zone will continue to strive to build a pilot city for the national business environment and create a more convenient business environment for SMEs.

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