Guangzhou-the Legal Field in South China's Trade Capital
Often overlooked by foreign investors, Guangzhou offers a wealth of opportunity in areas such as real estate, manufacturing, finance, and of course the legal services that go along with such businesses. This month, China Law & Practice explores the lesser-known commercial capital of southern China and talks to some of the legal practitioners that have helped the region grow into the booming hub of trade and industry that it is today.
By Brandon Kirk and Joanna Law of China Law & Practice
Date:
December 2007
Keywords (click to search): [National Bureau of Statistics of China] [FDI] [FIE] [Guangzhou Business Administrative Bureau] [competitiveness of Guangzhou] [types of legal services in Guangzhou] [change of legal services in Guangzhou] [increase in GDP] [increase in demand for legal services]
It is often said that if China is the world's factory, Guangzhou is the factory of China. It is of course home to vast production facilities for oil, automotive, clothing, and electronic products. But the city is not just a haven for production it is also a vast market for consumption. While Beijing and Shanghai may be home to more of the nation's ultra-rich, Guangzhou is wealthier on average, with the highest per-capita GDP in China Rmb 700 billion as of November, according to the National Bureau of Statistics of China, exceeding even that of Taiwan. Guangdong, the province the city belongs to, has the highest number of registered lawyers per capita than any other province. "Nationwide, Guangzhou is very competitive," says Phyllis Cheng of the local firm Alpha & Leader, "given the business mindset of the people here."
CANTON TRADE PAST, PRESENT AND FUTURE
The type of...
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