SZ SITIC gave talk on “Shenzhen: A City of Innovation" Go back »

2009-10-13 | South China

On 24th September, on invitation of the European Chamber, the Shenzhen Science, Industry, Trade and Information Commission (SITIC) presented to a large audience an update on the investment environment in today’s Shenzhen under the heading: “Shenzhen: A City of Innovation.”

As the world economy is picking up again, companies are looking to invest and expand. Many companies are committed to China to reinvest local profits. By hosting this event, the European Chamber gave companies an opportunity to understand better what Shenzhen offers in terms of investment incentives and market place. At the same time, officials from various departments of the SITIC, including the Policy Division, the Foreign Trade Division and the Foreign Investment Administration Division, had the opportunity to highlight Shenzhen’s competitive advantage and how companies can benefit if they choose to invest here.

Mr. Gao Lin, Deputy Director-General of SITIC, pointed out in his welcoming remarks that Shenzhen offers foreign invested enterprises an excellent business environment. Focusing on high-end and technology intensive industries, Shenzhen has created a good infrastructure from which companies can supply the domestic, as well as international markets. In Shenzhen, the popular phrase “Go to Beijing, you see Chinese politics; go to Shanghai, you see Chinese economy; and come to Shenzhen, you see the Chinese future” is becoming reality.

The presentations focused on four pillar industries, namely New energy and Biochemicals by Cai Ziling, Electronics by Zhao Huili and the Cultural industry by Dai Jing, and the Headquarter Economy by Zhuang Xin. The Shenzhen authorities have set up incentives in all these industries. Incentives include tax benefits, subsidies for setting up special centers such as research and development (R&D) centers, subsidized office space and the availability of special facilities for certain industries, e.g. industry parks and well planned infrastructure. The preferential policies are supported by funds allocated to improve in areas such Intellectual Property Rights protection.

Following the presentations, the audience and speakers continued lively discussions over lunch. As each table focused on one industry represented by a SITIC official, the discussions were fruitful. Benoit Stos, Managing Director with Mazars, an audit services firm, pointed out that many of the tax incentives are real options for foreign companies.

The European Chamber thanks the Shenzhen SITIC for the good cooperation that made this event possible and hopes to keep up the good relationship in the future.