Shanghai is located in the Yangtze River Delta. The municipality sits on the southern edge of the estuary of the Yangtze River in the middle portion of the East China coast. It borders the provinces of Jiangsu and Zhejiang to the north, south and west, and is bounded to the east by the East China Sea.
Shanghai is the commercial and financial center of China, and ranks 5th in the 2018 edition of the Global Financial Centres Index (and third most competitive in Asia after Singapore and Hong Kong) published by the Z/Yen Group and Qatar Financial Centre Authority. It also ranks the most expensive city to live in Mainland China, according to the study of Economist Intelligence Unit in 2017. It was the largest and most prosperous city in East Asia during the 1930s, and rapid re-development began in the 1990s. This is exemplified by the Pudong District, a former swampland reclaimed to serve as a pilot area for integrated economic reforms
As China's economic heart, Shanghai regards information industry as the first pillar industry in the new century. The People's Government of Changning District has also timely proposed the "Digital Changning" strategy that is committed to the informatization of urban development, with Shanghai Multimedia Park emerging at the right and this very moment.
Founded in March 2002 and with construction approved by Shanghai Municipal Science and Technology Commission, Shanghai Multimedia Park, located in the central area of Changning District and adjacent to Zhongshan Park, is an emerging industrial park integrating offices, commerce, residence and other projects. With its superior location, complete supporting facilitiesand advanced planning, the Park is bound to become the strategic center of Digital Changning.
Shanghai Multimedia Park focuses on the development of the visual arts industry, with its involved market areas including video production, animated cartoon, advertising, multimedia production and multimedia information services, game development, architectural design, industrial design, system simulation, virtual reality and virtual environments.
The Park’s main function lies in exhibition, trade, training and production of multimedia technology and products, which will gradually form the following seven centers:
1. The Research and Development Center, by gathering relevant enterprises and establishing public laboratories, aims to transform itself into a multimedia research and development center at municipal or national level;
2. The Exhibition Center showcases first-class multimedia technological achievements as well as related products and services from home and abroad;
3. The Trading Center sets up multifunctional building or trading venues to trade multimedia-related products and software;
4. The Investment Center establishes investment service institutions and clubs to conduct venture investment in relevant enterprises;
5. The Training Centre offers multimedia certification through educational training for various multimedia professionals;
6. The Conference Center, with a multifunctional exhibition center, can hold various domestic and international professional and academic conferences;
7. The Incubation Center, providing comprehensive services and counseling, is committed to supporting multimedia small and medium-sized enterprises as well as promoting their innovation and entrepreneurship.
Shanghai Multimedia Park Venture Capital Co., Ltd.
Aimed at better facilitating the role of park incubator in the development of multimedia industry, Shanghai Multimedia Park Venture CapitalCo., Ltd. (MPVC), founded in May 2003, was jointly established by Shanghai Technology Innovation Center, Changning District Technology Innovation Center, New Changning (Group) Co., Ltd. and Shanghai Weizhong Investment and Development Co., Ltd.
As a professional company engaged in multimedia business incubating, venture investment in high-tech enterprises, as well as management of hi-tech parks and incubators, MPVC, grounded on multimedia industrial park, expands its park policies, functions and services in everywhere of Shanghai, and establishes several incubation bases to attract excellent multimedia companies, especially those with bright prospects.
Adhering to the philosophy of "simple and efficient" services and “people-oriented" management, MPVC is committed to raisingstart-upfund with professional fund management, establishing investment alliance in multimedia industry to provide funds for multimedia start-ups. More importantly, MPVC will integrate capital, technology, talents, services and other advantageous resources to arduously create a lively MPVC entrepreneurial family, which provides a good business environment of resource sharing and complementary advantages. MPVC not only helps startupsto establish strategicpartnership, but also provides them with commerce, technology, law, finance, administration, office and other professional services in their earlystages. MPVC will help startups to explore the business world, reduce their entrepreneurial risks and make them successful.
To facilitate people who want to set up company in Shanghai Multimedia Park, here is an introduction of Types of business presence in China:
Before starting up a business in China, you have to know what are the options. Foreign Investors generally establish a business presence in China in one of five modes: Wholly Foreign Owned Enterprise(WFOE); Representative Office; Foreign Invested Partnership Enterprises (FIPE); Joint Venture and Hong Kong Holding Company.
Wholly Foreign Owned Enterprise(WFOE) is a Limited liability company wholly owned by the foreign investor. WFOE requires no registered capital and it's liability of equity , can generate income, pay tax in China and it's profit could be repatriate back to investor's home country. Any enterprise in China which is 100 percent owned by a foreign company or companies can be called as WFOE.
Representative Office (RO) isaLiaison Office of it's parent company. It requires no registered capital. It's activities would be: product or service promotion, market research of it's parent company's business, Quality Control liaison office etc in China. RO generally is prohibited to generate any revenue nor generating contracts with local businesses in China.
Joint Venture (JV) is aLimited liability company formed between Chinese investor and Foreign investor. The parties agree to create a entity by both contributing equity, and they then share in the revenues, expenses, and control of the enterprise. JV usually been used by foreign investor to engage the so called restricted in areas such like: Education, Mining, Hospital etc.
Since March 1, 2010: Measuresof Establishment of Foreign Invested Partnership Enterprises (FIPE) in China istaking effect. The regulation, which take effect since March 1, 2010, are known as the Administrative Measures for the Establishment of Partnership Enterprise in China by Foreign Enterprises or Individuals. There's no required minimum registered capital for a Foreign Invested Partnership Enterprise (FIPE) in Shanghai, Beijing, Shanghai, Shenzhen, Hangzhou and rest cities of China
Hong Kong Company usually been used as a Special Purpose vehicle (SPV) to invest Mainland China. Hong Kong is one of the quickest locations to Incorporate a business. Although a HK company is not a legal entity in Mainland China (Mainland China and Hong Kong, See Wiki 1 country, 2 systems), lots foreign investors, especially investors from Europe and North America still chose to setting up a Hong Kong company as SPV to invest China.
After China's entry to WTO, most industries in China welcome foreign investment, WFOE setting up inChina becomes the first option of foreign investment's entity structures instead of Rep.Office setting up in China. At the mean time, for tax purpose, effective licensing system etc more and more investors use Hong Kong as the holding company to invest China mainland, using this offshore company to hold their operations in China.
Business set-up in Shanghai is a big project by itself, which requires financial and time commitments, business management knowledge and China expertise. Identifying a competent agent to manage the complex process will be a cost and time effective way to avoid potential pitfalls . Tommy China Business Consulting has direct connections in the local government
Since 2006, TCBC has been focusing on consulting services for our clients to invest in Shanghai China. We are specialized in establishment of wholly foreign owned enterprises (WFOEs), setting up of offshore companies, trading services, tax minimization, Assist in obtaining government approvals and certificates for running business, negotiate and draft various legal documents provide legal advice, negotiate government officer for Land acquisition. Advising on formation of WOFE and business structures, managing and controlling WOFE in Shanghai China, drafting privacy policies and structuring commercial transactions
TCBC will manage all aspects of incorporation to get you a business license in Shanghai China. We offer a range of company formation services including helping you to set up:
-Wholly Foreign Owned Enterprises (WFOE )
-Joint Ventures (Equity/Co-operative)
-Foreign Invested Partnership Enterprises (FIPE)
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