Recently, ten policies on foreign investment have been revised and issued by Zengcheng District Government Office, Guangzhou.
According to the “Implementation opinions of Guangzhou government on further expanding opening-up and utilizing foreign capital”, the new policies on foreign investment are aimed at optimizing the business environment for foreign investment and promote sustainable development of foreign investment in Zengcheng District, Guangzhou.
The ten policies on foreign investment expand the scope of rewards and enhance the incentive intensity of rewards. According to the policies, a single foreign investment project in Zengcheng District, can receive a maximum reward of 30 million yuan within the period of validity of the policies.
Let’s look for details!
01
The government will support the use of foreign-invested industrial project contracts to transform foreign capital.
Foreign investors are encouraged to invest the advanced manufacturing industry, including information technology, artificial intelligence, biomedicine, new energy, new materials and so on.
Strategic emerging industries, modern service industries and important infrastructure sectors also welcome foreign investment.
Projects with annual actual foreign capital of more than 5 million US dollars will be awarded 2% of their annual actual foreign capital, and their maximum reward can be 20 million yuan.
Attention
The annual actual foreign capital doesn’t include foreign shareholder loans.
The projects don’t include the projects in real estate, financial industry and quasi-financial industry.
02
The government will reward foreign-invested enterprises that make outstanding contributions to the local economy in Zengcheng District, Guangzhou.
As for the newly registered foreign-invested enterprises that reach the scale of the year, they will be given a one-time reward according to 100% of their contribution to the local economy in that year, and their maximum reward will be 10 million yuan.
As for the existing foreign-invested enterprises whose annual economic contribution to the local economy exceeds 5 million yuan for the first time, they will be given a reward according to 20% of their contribution to the local economy in that year, and their maximum reward will also be 10 million yuan.
03
The government will provide incentives for executives and talents in foreign-invested enterprises.
For the top five foreign-invested enterprises in Zengcheng District, Guangzhou that year, the government will reward their senior managers according to 50% of their personal contribution to the local economy in that year, and the maximum annual reward of each one will not exceed RMB500,000. Each enterprise shall have no more than 10 quotas, and the accumulative reward amount of a single enterprise shall not exceed 30% of its contribution to the local economy.
04
The government will implement some preferential policies for land use in Zengcheng District, Guangzhou.
The preferential policies for land use are available to the qualified foreign-invested enterprises in manufacturing. These policies can help foreign-invested enterprises reduce costs for land use and are beneficial to the development of the enterprises.
05
The government will encourage foreign-invested enterprises to increase their capital, expand their production and achieve transformation as well as upgrade.
If projects that increase capital have annual actual foreign capital of more than 5 million US dollars, they will be awarded 2% of their annual actual foreign capital, and their maximum reward can be 20 million yuan.
If foreign-invested enterprises’ contribution to the local economy is more than 5 million yuan higher than that of the previous year after increasing capital and expanding production, the government will give a reward according to 20% of their contribution to the local economy in that year, and the maximum reward will be 10 million yuan.
06
The government will support the R&D and innovation of foreign-invested enterprises.
Innovation is the primary driving force for economic development. The government is willing to provide financial support to overseas high-level innovation projects and high-end talents.
07
The government will ensure the fair competition market environment for foreign-invested enterprises.
Foreign-invested enterprises will equally enjoy preferential policies for talents, innovation, enterprise services, investment incentives and so on.
08
The government will improve the quality of foreign investment services.
Registration services for foreign investment will be optimized. The government will provide help to foreign-invested enterprises when they face difficulties in the process of going into full operation or increasing capital and share.
09
The government will create a better business environment for foreign-invested enterprises.
In order to promote internationalism and improve services, the government website will pay attention to build its English version.
In order to safeguard foreign-invested enterprises' lawful rights and interests, the government will smooth channels of complaints and resolve outstanding issues.
Strong actions against IPR infringement and counterfeiting will be carried out. The protection of patents and registered trademarks will be strengthened. What’s more, the government will also provide convenience for legal service, audit service and medical service on foreign-invested enterprises.
10
The government will provide better talent services for foreign-invested enterprises.
Employees of foreign-invested enterprises can enjoy some preferential policies, including housing subsidies, housing provident fund and the policy of entering school nearby for children.
The ten policies on foreign investment show that Guangzhou will continue to welcome and support foreign investment. Besides, in such an open business environment, foreign-invested enterprises can have good development opportunities.
Warm Prompt
The “Implementation opinions of Guangzhou government on further expanding opening-up and utilizing foreign capital” has been effective since it was issued on November 30, 2021. These ten policies on foreign investment will be valid for three years.
Meanwhile, the old implementation opinions and policies were abolished. From December 27, 2019 to the implementation date of the new opinions, foreign-invested enterprises that conformed to the old policies could enjoy the old policies. After that, the old policies expired and foreign-invested enterprises should be evaluated according to the new implementation opinions.
HACOS will keep following the updates on Chinese policies on foreign investment.
Share to let your friends know!
