Hengqin sees 20.1% GDP growth in 2016

By Zhang Chen
China.org.cn, 
2017/02/21
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According to the Management Committee Office of Hengqin, in 2016 the GDP of Hengqin reached 15.7 billion yuan (US$2.28 million), a year-on-year increase of 20.1%; fixed-asset investment reached 34.6 billion yuan (US$5.04 billion),  a year-on-year increase of 19.46%; general budget revenue reached 4.50 billion yuan (US$0.65 billion), a year-on-year increase of 25%; FDI reach 523 million yuan (US$76.19 million).

Currently, there are 26,683 companies in Hengqin. Their registered assets amount to 1.4 trillion yuan. Among all the companies, 63 companies are listed in the Fortune 500 and 98 companies are China's domestic well-known enterprises. The investment volume of all 82 projects in Hengqin is 320 billion yuan (US$46.62 billion).

Apart from economic growth, Hengqin has taken measures to lower the operational costs for enterprises and enhance their efficiency. Companies can apply for a "digital bank card" which provides identity authentication, credit enquiry and financial services. Reforms have been initiated to shorten the application procedure time by 40% for builder's licenses of investment projects. This move may help reduce the enterprises' cost by 3%.

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