© 2016 The American Chamber of Commerce in South China 版权所有 华南美国商会 2016年 “South China Economic Overview” courtesy of Dezan Shira & Associates Ltd. “华南地区经济概况”由协力管理咨询有限公司授权刊登。 Reproduction for commercial use is strictly prohibited. This document is available free of charge in electronic form at: http://www.amcham-southchina.org 严禁复制以作商业用途。华南美国商会官方网站提供该出版物 电子版免费下载。 Cover photo by Yuki Lu, Communication Manager, AmCham South China Last updated: Feb 14, 2016 最后更新2016年2月14日 The American Chamber of Commerce in South China Suite 1801, Guangzhou International Sourcing Center 8 East Pazhou Avenue, Haizhu District Guangzhou, Guangdong, PRC, 510335 华南美国商会 中国广东省广州市海珠区琶洲大道东路8号 广州国际采购中心1801室,510335 Tel. (86 20) 8335 1476 Fax. (86 20) 8332 1642 [email protected] www.amcham-southchina.org The American Chamber of Commerce in South China 2016 SPECIAL REPORT ON THE STATE OF BUSINEss IN SOUTH CHINA 华南美国商会 2016年华南地区经济情况特别报告 ? $ Supporters 支持机构 United Airlines and United Express operate an average of nearly 美国联合航空公司及联航快运平均每日运营5,000架 5,000 flights a day to 362 airports across six continents. In 2014, 次航班，飞往6大洲362个机场。2015年，美联航和联航 United and United Express operated nearly two million flights car- 快运的航班总数约200万班次，为1.38亿乘客提供优质的 rying 138 million customers. United is proud to have the world’s 航班服务。美联航凭借其广泛的网络优势，在美国本土 most comprehensive route network, including U.S. mainland hubs 芝加哥、丹佛、休斯顿、洛杉矶、纽约/纽瓦克、旧金山 in Chicago, Denver, Houston, Los Angeles, New York/Newark, San 及华盛顿等枢纽机场间运营着超过700条主要航线。 Francisco and Washington, D.C. United started non-stop service to China in 1986 and today 美国联合航空公司于1986年起开始运营中美直飞的 serves Beijing with non-stop flights to Chicago, New York/Newark, 航班服务，包括：北京飞往芝加哥、纽约/纽瓦克、旧 San Francisco and Washington, D.C./Dulles, Shanghai with non- 金山和华盛顿的直飞航班；上海飞往芝加哥、关岛、洛 stop flights to Chicago, Los Angeles, New York/Newark and San 杉矶、纽约/纽瓦克和旧金山的直飞航班；成都直飞旧 Francisco; and Hong Kong with non-stop flights to Chicago, New 金山的航班；香港飞往芝加哥、关岛、纽约/纽瓦克、 York/Newark, San Francisco, Guam, Singapore and Ho Chi Minh 旧金山、新加坡以及胡志明市的直飞航班。 City. United is a founding member of Star Alliance, the world’s larg- est and most comprehensive airline alliance, whose other members include Air China. United and Air China have a bilateral partnership that includes code-sharing on selected routes and provides customers with both carriers additional travel benefits such as airport lounge ac- cess and frequent flyer program reciprocity. For the past 32 years, The China Hotel, A Marriott Hotel has hosted 广州中国大酒店是国内首批中外合作经营的大型 leaders of nations and commerce as well as thousands of guests as the first 五星级酒店，更是万豪国际集团在这个发展迅速的大都 Sino-foreign cooperative five-star hotel in mainland China. It is also one of 会的旗舰酒店。在过去的三十二年里, 中国大酒店成功 Marriott International’s flagship hotels in Asia Pacific. Located in the heart 接待了来自世界各地的商务旅行者和国家领袖。坐落于 of “old Canton”, The China Hotel, A Marriott Hotel has been home to not 广州市繁华的中心地段。凭着其得天独厚的地理位置及 only leaders of nations and commerce … but also discriminating guests and 殷勤周到的服务，多年来，中国大酒店一直备受各商界 thousands of star-kissed lovers. 名流和品位人士的青睐。中国大酒店共有850间格调高 We offer 850 rooms and suites ranging from deluxe rooms to 雅、设施齐备的高级客房及套房，酒店设施应有尽有， presidential suites. Rooms have been specially designed to be both elegant 让宾客尽享和谐舒适及先进优势，享受宾至如归的同时 and functional, in a thoroughly modern style combining traditional 让您随时在线，处理公务更加方便，更合心意。 Chinese style and the latest technology. Guests experience a traditional welcome and all the comforts of home but with the necessary cyber facilities to conduct business away from your home base. Contents 目录 President’s Report 6 会长致辞 7 Study Results 调查结果 Dezan Shira & Associates is a specialist foreign direct investment 1. Demographics 10 practice, providing corporate establishment, business advisory, tax 受访企业统计 11 advisory and compliance, accounting, payroll, due diligence and fi- nancial review services to multinationals investing in emerging Asia. 2. Revenue and profitability 18 Since its establishment in 1992, the firm has grown into one of Asia’s 收入和利润 19 most versatile full-service consultancies with operational offices 3. South China 22 across China, Hong Kong, India, Singapore and Vietnam as well as 华南地区 23 liaison offices in Italy and the United States. 4. Investment Trends 24 Dezan Shira & Associates’ experienced business professionals are 投资趋势 25 committed to improving the understanding and transparency of in- vesting in emerging Asia. 5. The Business Environment in South China 32 Dezan Shira & Associates also publishes significant and well re- 华南地区的营商环境 33 ceived business intelligence about each of the markets and disciplines in which it operates through its publishing subsidiary Asia Briefing Economic Overview Ltd. Established in 1999, Asia Briefing Ltd. is dedicated to provid- 经济概况 ing individuals and enterprises with the latest business and regulatory 1. Introduction to South China 46 news as well as expert commentary relating to conducting business 华南地区简介 47 in emerging Asia. 2. Guangdong Province 50 广东省 51 协力管理咨询有限公司是一个专业的对外直接投资 实践，针对跨国公司提供其在新兴亚洲的建立，业务咨 3. Fujian Province 58 询，税务咨询及合规，会计，工资，尽职调查与财务审 福建省 59 查投资的服务。自1992成立以来，公司已成长为一个亚 4. Guangxi Zhuang Autonomous Region 62 洲最通用的全方位服务的咨询公司之一，业务办事处包 广西壮族自治区 63 括香港，印度，新加坡和越南以及在意大利，美国和德 5. Hainan Province 66 国的联络办事处。协力管理咨询有限公司的员工是经验 海南省 67 丰富的商务人士，他们致力于提高外资公司对投资新兴 亚洲的理解和透明度。 6. Hong Kong Special Administrative Region 70 香港特别行政区 71 协力管理咨询有限公司通过在1999成立子公司亚洲简 7. Macau Special Administrative Region 76 报来出版市场和学科中与业务有关的公司情报简报，亚洲 澳门特别行政区 77 简报公司致力于为在亚洲新兴市场开展业务的企业和个人 提供最新的业务和管理新闻以及专家的有关评论。 2016 Special Report on the State of Business in South China President’s Report his year, 246 companies participated in our Special Re- In terms of planning and risk management, the biggest perceived Tport on the State of Business in South China. The study, which challenge to the operations of study participants for the first time began in 2003, offers us unique insight into the growth and trans- ever changed to “Local competition” signaling an alarming concern formation of the Chinese economy. I am pleased to report that the for equal treatment. Trailing behind in second, third, fourth and state of that economy—and the state of business in South China—is fifth places are “Regulatory issues (Chinese government)”, “Rising excellent. labor costs” “Lack of qualifiable general personnel” and “Foreign This year’s Study shows that the Chinese economy has once again competition.” Results for the three-year period are quite similar, defied gravity and is well on its way to full transformation and re- with the second and third challenges exchanging places and the fifth- covery. It clearly demonstrates a high level of confidence by most ranked category being replaced by “Difficulty in market penetration.” companies in the reform policies and the direction and future of the Elsewhere, participants identified “Increasing inflation” as one of Chinese economy. their top policy-oriented concerns. Regardless of uncertainty in the medium term, we find strong re- This indicated that China’s overall regulatory system is improv- investment numbers across the board. Most participants reported re- ing. The establishment of the IP Courts in Beijing, Shanghai and investing more than they had originally budgeted for over the course Guangzhou is one of the important initiatives towards further im- of 2015, and for 2016 one-year budgeted reinvestment rose 8.79 provements. However, there are still more to be done, and I believe percent. Even though the three-year budgeted reinvestment slightly that when foreign companies felt more confident that they would be declined, we still estimate that AmCham South China member com- treated equally from a regulatory standpoint, and if they felt they had panies stand to reinvest greater than $13 billion in 2016 and greater better insight into the government’s more transparent decision-mak- than $12.6 billion between 2017 and 2018. As I have said in the past, ing process, I am fully confident that we would see investments grow companies do not reinvest in new projects unless they are confident rapidly across China. Moreover, I would argue that those improve- in the future. I have always believed that the most reliable vote is the ments would essentially be favorable side effects of broader economic one cast by companies voting with their pocket books. reform that would propel China’s economy into a position of primacy In 2016, the cross-section of participants has continued to broad- worldwide. en. American-invested Joint Ventures and Wholly-Foreign Owned As has been the case in the past several years, we expect one key Enterprises are joined by their counterparts from other nations and area of investment to be human resources; this year, fully 81.6 percent Mainland Chinese enterprises. We see companies of all sizes, from of study participants reported having hired new employees to take those with fewer than 50 employees and less than $1 million in rev- advantage of the labor market. We estimate that this has led to the enue all the way up to companies exceeding $500 million in revenue creation of 994,000 new jobs in China. and with thousands of employees worldwide. Every sector of the In light of these figures, I believe it is impossible to argue against economy is represented, from energy generation and agriculture all the fact that business continues to boom in what is on-track to quick- the way to cutting edge software and high-precision machinery. ly become the world’s largest economy. This year we find that almost half of our study participants are involved in manufacturing