CGA signs agreement with Tianjin Free Trade Zone to jointly build a service platform supporting the “Going Global” initiative

Date: Nov 2015

On 4 November 2015, the Tianjin Enterprise Go Global Service Alliance: Tianjin Free Trade Zone (FTZ) Outbound Investment and Financing Comprehensive Service Platform Signing Ceremony was held at the office of Binhai New Area CBD Management Committee. It was co-sponsored by the Tianjin Commission of Commerce and the Administrative Commission of Tianjin Binhai New Area CBD. At the ceremony, ChinaGoAbroad (CGA) and its co-founder TransAsia Lawyers signed a strategic partnership agreement with the CBD Management Committee.

Distinguished figures attended and witnessed the signing ceremony, including Liu Jiangang, Deputy Secretary General of Tianjin Municipality, Director of Tianjin Commission of Commerce & Deputy Director of Tianjin FTZ Management Committee, and Zheng Weiming, Deputy Director of Tianjin FTZ Management Committee, Standing Member of Tianjin Binhai New Area Party Committee & Director of Binhai New Area CBD Management Committee. Mr. Jesse T H Chang, Founding Partner of TransAsia Lawyers and Founder & CEO of CGA, delivered a keynote speech on "Thoughts on founding CGA and its development strategy".

The Tianjin FTZ Go Global Service Platform, also known as the Outbound Investment and Financing Comprehensive Service Platform, provides one-stop investment and financing services in support of the “Going Global” endeavors of Chinese enterprises, who operate both in and out of the Tianjin FTZ. More specifically, these services include project referral, offshore financing, legal advice, accounting and later-stage financing of overseas investments. Echoing the “One Belt, One Road” policy and regulations promulgated by the Tianjin FTZ, the platform has delivered tangible results in promoting financial innovation. The Tianjin Commission of Commerce highly valued the contributions made by the platform, and intends to incorporate them in the Tianjin Enterprises Go Global Service Platform.

Binhai New Area officials placed a particular emphasis on how to take advantage of Chinese capital when constructing the Go Global Platform in the CBD area. As raised by Sun Yang, Deputy Director General of Financial Work Bureau of the CBD, the important issue facing the Tianjin FTZ is how Chinese capital can make sustainable and stable overseas investments, in contrast to the early export practices of China's opening up policy. Enterprises that have little knowledge of the overseas investment climate and processes are now encouraged to use the FTZ to test the waters. In this sense, the FTZ shall simplify administrative approval procedures and other supportive policies, and retain specialized advisory agencies, particularly those that have extensive experience in advising clients on overseas investment projects.

The Agreement executed between CGA and Tianjin Binhai New Area CBD represents a strategic partnership between the two to jointly advise Chinese enterprises in their Going Global initiatives. The partnership is dedicated to the promotion of the “One Belt, One Road” policy and construction of the Tianjin FTZ. Subject to this agreement, the two will agree to promote each other through their own channels, to share their Project Database, and to co-sponsor or organize forums and other events. The two are expected to provide a broader range of advisory services in relation to cross-border M&A, outbound investment & financing, and cross-border settlement in the near future.

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