Policy: methods for trial implementation to promote investment attraction | govt.chinadaily.com.cn


Policy: methods for trial implementation to promote investment attraction

Updated: Dec 15, 2017 Print

To propel real economic development in Zhuhai, the municipal government issued the Methods for Trial Implementation in May 2017 to facilitate investment promotion, according to the official website of the Zhuhai Bureau of Commerce.

Article 1 The measures were compiled based on official documents introduced by the State Council and related Zhuhai government regulations under the guidance of innovation-driven and opening up & reform strategies. Policies include preference clauses stipulating rewards, incentives, and application scope.

Article 2 defines the arrangement of supporting rewards and funds. The municipal and district (functional area) finance sectors shall make overall arrangements annually to financially support investment promotion activities by granting rewards. Encouraged fields include: high-end equipment manufacturing, offshore engineering, aerospace & aviation, modern chemicals, biomedicine, electronic information, new energy sources, new materials, printing consumables and new-type agriculture. Introduced or expanding projects should accord with the development orientation of Zhuhai. In addition to project entities, construction of business promotion platforms, establishment of company headquarters or branches plus major investment attraction events will be given rewards. Note that application is limited to those enterprises registered and paying tax in Zhuhai with independent legal person qualification. Another pre-condition is the promise that projects will not be relocated away from Zhuhai within 10 years with existing tax liability and registered capital unchanged or reduced. 

Article 3 specifies rewards given to newly-arrived projects. For advanced real economy projects to locate in Zhuhai and having a paid-in registered capital of more than $10 million or 100 million yuan ($15 million), a reward of 2 million yuan will be granted for each $10 million or 100 million yuan. Incentive up to 50 million yuan is allowed for each project. Money will go to infrastructure construction, equipment procurement, R&D input, living facilities, loan interest subsidies and subsidies for project executives.

Article 4 covers rewards for projects with increasing capital and production capacities. For existing projects, increasing investment in the city with newly paid-in registered capital so that they have capital of $10 million or 100 million yuan ($15 million) or more, the government sets no limit on the amount, granting 3 million yuan for each $10 million or 100 million yuan. They will be endowed with 2 million yuan, 4 million yuan, 6 million yuan or 20 million yuan each if they achieve a year-on-year sales revenue increase of 100 million yuan, 500 million, 1 billion yuan, or 5 billion yuan respectively. In principle, the money should be spent in infrastructure construction, equipment procurement, R&D input, living facilities, loan interest subsidies and subsidies for project executives.

Article 5 details support for the construction of investment carriers. Governments of districts (functional areas) directly invest in land leveling, construction of standard workshops and supporting infrastructures, or entrust state-owned enterprises to implement agent contracts.

Meanwhile, qualified enterprises are encouraged to perform as construction agent to build plants and supporting infrastructure for introduced projects. The facilities can be used freely within a certain period of time, and once beyond the time scope, project owners are supported to purchase them in accordance with the construction cost.

Engineering on characteristic industrial parks, district-based parks, and international cooperation platforms are encouraged, no matter whether they are imported or pioneered locally.

Financial institutions that invest in advanced industrial projects are encouraged be included as subsidized objects. It is also stipulated that 10 million yuan will be given to each district (functional area) when it has additional 10-hectare standard industrial construction land with formalities complete.

Article 6 details information about incentives granted to business promotional activities. Organizations and individuals (except civil servants) who have played vital roles in attracting major projects shall be rewarded with a maximum reward of 5 million yuan for a single project.

Enterprises should be encouraged to participate in domestic and foreign investment promotions – events organized by governments or commercial departments at municipal level and above. Giant enterprises, alongside with trade associations and intermediary agencies will also benefit from holding business summits, industry forums and annual meetings, with up to 50 percent of the actual expenses to be covered. The ceiling amount is 1 million yuan for single event.

Article 7 rules encouragement of the settlement of headquarters and branch offices in Zhuhai. Each headquarters enterprise can claim reward of up to 5 million yuan. Multinational corporations, overseas chambers of commerce or business associations, and professional intermediaries will be subsidized in rent and purchase costs of office buildings when opening branches or representative offices in Zhuhai districts (functional areas).

Article 8 specifies support for key projects. Newly introduced enterprises, be it evaluated at the world-leading level in the industry or emerging businesses with huge potential to fill the gap in sectors in Zhuhai, or grant projects with an investment of more than 3 billion yuan will receive support. Specific operations are based on the Case-by-case Approval System.

Article 9 urges perfection of examination and rewarding mechanism in the city.

All the Zhuhai districts (functional areas) shall formulate relevant measures according to the practical situations.

(This English version is only for reference. To learn more, please refer to the authoritative Chinese version)

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