Zhanjiang cuts taxes to help enterprises upgrade

Ten industrial projects with a total investment of 3 billion yuan ($424.2 million) have been operating in Zhanjiang Economic and Technological Development Zone (ZETDZ) since October, bolstered by the great advantage of the city's tax reduction policy.

The tax bureau of ZETDZ has launched a number of policy publicity activities, seeking to effectively implement tax reduction and fee reduction policies to alleviate the burden on enterprises, so that they can invest more capital in smart manufacturing and industrial upgrading.

Under the favorable policies and the guidance of the government departments, six national high-tech enterprises have settled in Donghai Island as supporting enterprises of Zhanjiang Baosteel, with many more applying.

"The tax reduction policies promote companies to put more investment in environment protection," said Hou Jiaxin, financial manager of MCC Group, an energy saving and environmental protection company.

Key projects in ZETDZ are estimated to enjoy 40 million yuan in tax reductions and fee reductions this year, which will give enterprises a great boost to invest in their upgrading.