Fujian unveils measures to boost high-quality investment along Silk Road

The commerce and finance departments of Fujian province recently issued a series of measures to promote high-quality and high-level investment in countries and regions along the Silk Road.

The measures will support enterprises engaged in outbound investment, overseas contracted projects, overseas labor cooperation, as well as the construction units of overseas economic and trade cooperation parks and bilateral economic and trade innovation demonstration parks.

According to the measures, the provincial government will render rewards for outbound investment, overseas contracted projects, expatriate labor services and the construction of economic and trade innovation demonstration parks, while subsidies will be offered for logistics and insurance costs.

For example, enterprises that invest $5 million or more in the overseas manufacturing, agricultural, as well as energy and mineral resources development industries in 2023 can apply for a maximum reward of 1 million yuan ($140,000).

Enterprises that spend over 1 million yuan on the transportation and insurance of equipment and raw materials abroad, or resource products within their equity from oversea, will be eligible for a subsidy of 20 percent of the actual costs, capped at 1 million yuan.

Enterprises with an annual deployment of more than 1,000 expatriate workers will be eligible for a maximum reward of 1 million yuan.

Enterprises that purchase export credit insurance for overseas investment and construction projects, as well as personal safety insurance for Chinese personnel deployed in overseas projects, will be eligible for a maximum subsidy of 2 million yuan.

For economic and trade innovation demonstration parks approved by the State Council, the leading executing unit will receive a one-time reward of 5 million yuan. The reward must be used  for investment attraction and the construction of public service platforms in domestic demonstration parks.