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CW’s Participation in Helping German Startups in Shenzhen

On May 25th, 2018, German Chancellor Angela Merkel along with state secretary at BMWi (the Federal Ministry for Economic Affairs and Energy) Ulrich Nussbaum, as well as high-level government representatives from Guangdong province, officially opened the new German Chamber office in Shenzhen as an Innovation Hub.

On 11th June, German Chamber arranged a GCC Business Delegation to Shenzhen. CW’s German Desk joined it. This business delegation provided delegates further insights into the latest developments in Shenzhen. Company visit started from ROYOLE, one of the world’s fastest-growing technology start-ups for R&D on flexible electronics applications, followed by a visit to the new opened AHK Shenzhen office. Afterwards the delegation visited Shenzhen TianAn Cyber Park, the only private technology park and incubator in Shenzhen on a national level.

Shenzhen, as one of the cities included in the Greater Bay Area initiative, was designated as China’s first Special Economic Zone allowing the region to take in a flush of foreign investment to energize its development and become the fastest growing electronics manufacturing hub in the world, as well as an innovation hub, South China’s start-up hub, and incubator for enterprises.

In Shenzhen, the tax rate for high-tech enterprises is 15%. Such enterprises can enjoy the “Two-year Exemption and Three-year Half Reduction of corporate income tax” preferential policy. New cultural enterprises can enjoy the three-year corporate income tax exemption preferential policy.

With its incentives, numerous incubators and accelerators, as well as a young population, Shenzhen offers an ideal ecosystem for start-ups. The new AHK Shenzhen office will serve as a bridge between German start-ups and the Chinese startup scene in the “Silicon Valley of China”, as well as connecting German startups with Chinese companies. Among other things, the Innovation Hub will offer technology scouting for German companies as well as customized delegations with focus on topics such as: innovation, digitization and high-tech.

CW, which has been awarded by Invest Shenzhen as Shenzhen Annual Excellent Cooperative Institution for Investment Promotion and whose German Desk is dedicated to serving German-speaking clients, will provide the German startups with professional support and knowledge of an expert. As a professional advisory and Certified Public Accounting firm, CW team has more than 30 years of experience in helping foreign investors, offering a wide array of client-focused, tailored services of professional quality, including accounting, audit and other assurance, tax, corporate secretarial and business process outsourcing, and advisory specialisms.