Beginning a Business in Shenzhen, China - 5 Reasons to Do So

So right here are five of the very best to get you began.

Proximity to Hong Kong

Hong Kong is only a few miles away and there are numerous simple to access crossing points dotted around the city. 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 convenient and cheap to get into Hong Kong with a round trip journey on the island's MTR system costing around one hundred HKD (around $13 USD), and station hopping in between points after crossing the border is good worth as well (usually no much more than 10 HKD).

For companies that means you can access all the advantages of Hong Kong and combine them with all the advantages of China. That consists of cheap but nicely educated labour, and banking facilities that allow simple transfer of funds to other locations of the world.

Special Economic Zone

Shenzhen was created to deliver an financial boom, it is a "special economic zone" exactly where there are legal and financial incentives for foreign corporations to invest in and develop long lasting businesses. This zone has now been extended to cover additional areas 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 improve circumstances in other provinces but nearby government is firmly behind the ongoing prosperity of the city and has announced 28 regulations since the start of the year to enhance prospects for foreign owned businesses.

Events and Networking

There are numerous trade shows and other promotional events about China, nevertheless Shenzhen is trying very difficult to position itself as a premier company destination. The initial indicators of the city asserting its own image are the upcoming Universiade Games - exactly where 163 countries will compete on an international stage in university athletics tournaments.

Skilled High Tech Business

Look at your computer, it's extremely likely that your keyboard, mouse and monitor had been made in Shenzhen. The city is a pioneer of higher technologies 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 as well.

For foreign businesses this is extremely useful as the city can offer a a lot greater ability set for employers than other comparable sized Chinese cities.

Language

There is a dearth of English language skills in China, compared to most nations the country has the 2ndlowest level of functional English literacy in the globe. Nevertheless Shenzhen has a much higher rate of English speakers than the rest of the nation, partly because of the proximity to Hong Kong and partly because the city has been involved in foreign company for a lot longer than the rest of the country.

Investors in the country ought to look to discover the local language (which in Shenzhen is Mandarin not Cantonese - in contrast to the rest of the province where the reverse is accurate) but it is a large time saver to be able to discover skilled workers who can speak your language from the start of your project.

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