Tianjin is a pilot free trade area, the first of its kind in northern China, which is opening up to foreign investors
Tianjin is opening up to the world, improving innovation efforts and building new reform and opening platforms. An example is the online recruitment platform invested abroad, Liepin.com, one of many that have benefited from the free trade area.
Yu Ting, Liepin.com’s director of government affairs, commented: “The permission to conduct Internet Information Services (IIS) and the human resources service license for Sino-foreign joint ventures were two major problems for us when we have founded the company “.
Liepin.com is a foreign-owned company
Another important fact is that thanks to the establishment of the pilot free trade zone of China (Tianjin), Liepin.com and similar companies have finally found a solution to the problem of approval of qualifications.
Thanks to the innovative and revolutionary policy, Liepin.com became the first foreign-invested Internet company in Tianjin to conduct value-added telecommunications services. “Without the two permits, our company could not have been established,” recalls Yu.
From the opening of the pilot free trade zone on 21 April 2015 to the end of 2018, 2,159 foreign companies have been established in the area
“Such approval of qualifications had no precedent in Tianjin, but it is not a problem in the free trade zone,” said Tang Zhongfu, deputy director of the general office of China (Tianjin) Pilot Free Trade Zone Administration.
At the end of January 2018, Liepin.com became public. Completing the structuring of Variable Interest Entities (VIEs), foreign direct investments and IPOs in just 5 months, the company has set a new record as the fastest company to offer IPOs on Hong Kong Exchanges and Clearing Limited (HKEX). “TEDA has created a special team of professionals to provide comprehensive services for the IPO of companies,” said Xu Lili, chief financial officer of the Liepin.com recruitment site.
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