Beginning a Business in Shenzhen, China - 5 Factors to Do So
The busiest border point is Lohou exactly where tens of thousands of people sally back and forth each day.
For expats this indicates it's each handy and cheap to get into Hong Kong with a round trip journey on the island's MTR system costing about 100 HKD (about $13 USD), and station hopping in between points after crossing the border is good value too (usually no more than 10 HKD).
For companies that means you can access all the advantages of Hong Kong and combine them with all the benefits of China. That consists of cheap but nicely educated labour, and banking facilities that enable easy transfer of funds to other areas of the world.
Special Financial Zone
Shenzhen was produced to deliver an economic boom, it is a "special financial zone" exactly where there are legal and monetary incentives for foreign corporations to invest in and develop long lasting businesses. This zone has now been extended to cover additional locations that previously weren't in a position to compete on an equal basis such as Bao'an and Longgang.
There is a push from central government to enhance conditions in other provinces but local government is firmly behind the ongoing prosperity of the city and has announced 28 regulations since the start of the year to improve prospects for foreign owned companies.
Events and Networking
There are many trade shows and other promotional events around China, however Shenzhen is attempting extremely hard to position itself as a premier business destination. The initial signs of the city asserting its personal image are the upcoming Universiade Games - exactly where 163 nations will compete on an international stage in university athletics tournaments.
Experienced Higher Tech Industry
Look at your pc, it's highly likely that your keyboard, mouse and monitor were produced in Shenzhen. The city is a pioneer of higher technology and is presently investing billions in LED the cutting edge of low power light production, and is home to businesses such as Foxconn and BYD too.
For foreign businesses this is incredibly useful as the city can offer a much greater skill set for employers than other similar sized Chinese cities.
There is a dearth of English language abilities in China, compared to most nations the country has the 2ndlowest level of functional English literacy in the globe. Nevertheless Shenzhen has a a lot greater rate of English speakers than the rest of the country, partly simply because of the proximity to Hong Kong and partly simply because the city has been involved in foreign company for much longer than the rest of the nation.
Investors in the country ought to look to discover the nearby language (which in Shenzhen is Mandarin not Cantonese - unlike the rest of the province exactly where the reverse is true) but it's a big time saver to be able to find skilled employees who can speak your language from the start of your project.
Shenzhen is a great location to do business, and whilst you should never rush into doing business anyplace in China without looking for suitable specialist advice, it's 1 of the best places to think about when you are prepared to get started.
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