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

Because of this many businesses appear to open their first Chinese office in the city and there are definitely many good factors to do so. So here are 5 of the 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 about the city. The busiest border point is Lohou where tens of thousands of individuals sally back and forth every day.

For expats this indicates it's both convenient and cheap to get into Hong Kong with a round trip journey on the island's MTR method costing around 100 HKD (around $13 USD), and station hopping between points following crossing the border is great value too (generally no more than 10 HKD).

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

Unique Financial Zone

Shenzhen was created to provide an financial boom, it is a "unique economic zone" exactly where there are legal and financial incentives for foreign corporations to invest in and develop long lasting companies. 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 conditions in other provinces but nearby government is firmly behind the ongoing prosperity of the city and has announced 28 regulations because the begin of the year to enhance prospects for foreign owned businesses.

Events and Networking

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

Skilled High Tech Industry

Appear at your pc, it is 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 energy light production, and is house to companies such as Foxconn and BYD too.

For foreign businesses this is extremely helpful as the city can offer a much higher skill set for employers than other similar sized Chinese cities.

Language

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

Investors in the country should look to discover the local language (which in Shenzhen is Mandarin not Cantonese - unlike the rest of the province where the reverse is accurate) but it's a big time saver to be able to discover skilled employees who can speak your language from the begin of your project.

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