Gansu provincial government has recently issued a series of measures to promote foreign investment, by easing entry restrictions, improving relevant policies, and establishing an incentive mechanism.
The government will reward enterprises with grants of 30 million yuan ($4.36 million) for introducing new projects with investments of more than 1.5 billion yuan into the province.
The province will also fully implement policies and measures to ease restrictions on foreign investment in the service, manufacturing and mining sectors.
It will encourage foreign investors to invest in advanced manufacturing industries, foreign and private capital to participate in the construction of infrastructure in the fields of energy, transport, water conservancy, ecological protection and municipal public works in the form of franchising in accordance with laws and regulations.
In addition, relevant land use policies will apply equally to foreign-funded and domestic enterprises in order to implement preferential tax policies for the development of the Go-West Campaign.
Gansu will plan and organize major investment promotion activities in health, non-ferrous metals, petrochemical engineering, deep processing of agricultural products, traditional Chinese medicine, cultural tourism and other leading industries in the region, aiming at markets in the Yangtze River Delta, the Pearl River Delta, the Circum-Bohai Sea region and other areas. It will also encourage enterprises in the world’s top 500, China’s top 500 and the private top 500 to invest in the province.
In the past five years, 92 foreign-invested enterprises have been established in Gansu, with contracted foreign capital of $15 billion and actual utilization of foreign capital reaching $3.6 billion.