Chen Xiaochun, Zhang Yu JeniZhang13@163.com SHENZHEN has recently released three impactful documents aimed at enhancing its business environment. These documents focus on bolstering the rule of law, attracting foreign investment, and aligning with prominent trade regulations. The international communities in Shenzhen have heaped praises on the three documents. Shenzhen will strive to foster a market-oriented business environment where property rights protection is more effective, market access mechanism is more mature, competition is fairer, credit system is more secure, resource allocation is more efficient, and government services are more convenient, according to the work plan for optimizing market-oriented business environment. The plan for optimizing the law-based business environment states that the city will improve the business environment institutional system, promote standardized and civilized supervision and law enforcement, implement strict, fair and efficient justice, and improve the public legal service system to optimize the law-based business environment. The plan for optimizing the internationalized business environment involves building an open industrial innovation ecosystem, an international service system for global resources allocation, an investment and trade protection mechanism aligning with high standards, and a livable and high-quality business-friendly environment. In addition, the city’s EyeShenzhen multilingual website has released the documents in nine languages — English, French, Spanish, German, Russian, Japanese, Arabian, Korean and Portuguese. Senior executives from the European Chamber of Commerce in China spoke highly of the documents, expressing their belief that they are helpful to the development of Shenzhen. Klaus Zenkel Vice president of the European Chamber of Commerce in China and chair of the European Chamber S. China Chapter The reason why many EU enterprises like Shenzhen, the “Silicon Valley of China,” is that it’s easy to do business, especially regarding R&D, where processes can take place quite efficiently. Communication-wise, Shenzhen is planning to translate more information such as regulations and policies into English and other languages, and I think this is a great move. Shenzhen is always the pilot city of China. The specific measure that facilitates digital payment for expats is vital if you are attracting people to China, because once proved accessible in Shenzhen, it can be promoted to other cities. Edward Xia Managing director of JLL Shenzhen If I have to use one word to describe the documents, it would be ‘excellent.’ Creating an open industrial innovation ecosystem will comprehensively improve the international standards of producer services. In addition to the well-developed infrastructures, if the internationalized ecosystem of the service industry is also well built, it will be very beneficial for foreign investors to enter and invest. If foreign investors come to Shenzhen and we offer an excellent service industry environment, it would be like adding wings to a tiger. Why are foreign investors increasingly favoring Shenzhen? There are several important reasons. First, innovation is deeply embedded in Shenzhen’s DNA. Second, it enjoys geographical advantages due to its proximity to the international market in Hong Kong. Moreover, Shenzhen has consistently developed itself as a service-oriented city. Shenzhen’s attainment of international city status over the years is largely attributed to its favorable business environment. Supporting full communication between private enterprises, helping them go global, and promoting their development is part of Shenzhen’s unique business DNA. Christian Gassner A board member of the European Chamber South China Chapter I came to Shenzhen in 2002. Compared to 20 years ago, the government nowadays is listening more to foreign enterprises. The environment is more welcoming. The infrastructures are complete and companies are provided with more opportunities. | 