Trial Incentive Measures for Rewarding Attraction of Investment in Gaoming District, Foshan City
2009.06.23

Article 1. This decree has been formulated for the purpose of fully motivating the initiative of all sectors of the society in absorbing capital investment and further enhancing the efforts in attracting investment for the promotion of economic development of Gaoming District.
Article 2. Examination and approval of the reward. An examination and appraisal group for rewarding attraction of investment in Gaoming District, Foshan City shall be established, which, will have the leading officials of the municipal government as the leader, people in charge of investment attraction in the municipal government as the deputy leader, and responsible officials of the municipal General Office, Bureau of Finance, Investment Promotion Bureau, Bureau of Foreign Trade and Economic Cooperation, Development and Reform Bureau, Bureau of Economy and Trade, Auditing Bureau, Bureau of Statistics and other municipal departments as the group member. The group shall preside over all kinds of assessment, examination and approval work for the reward.    
Under the group, an office will be set up (in the municipal Investment Promotion Bureau) to deal with specific daily routines. The post of director of the office will be held concurrently by the person responsible in the municipal Investment Promotion Bureau.
Article 3. Reward object. Any enterprise home and abroad, social group, domestic administrative institution and other financial organization and individual (hereinafter refer to as investment introducer) that meets the reward conditions stipulated in this decree, shall be entitled to the reward according to the measures.
Article 4. Reward scope. The introduced investment shall be used in project of infrastructure construction and undertaking for public welfare (real estate project excluded), productive and commercial enterprise, agriculture, tourism, urban environmental protection and high-tech enterprise within the jurisdiction of Gaoming District, Foshan City.
Article 5. Reward confirmation. When the capital and equipment actually introduced are in place, the investment introducer shall declare his qualification for the reward with written certificates and relevant documents issued by the investment party and the implementation party (the reception unit of the capital) of the project. Specific conditions are as follows:
(1) The introduced investment shall be the project investment introduced from inside or outside the city as well as from abroad and shall be measured in accordance with the capital amount of the fix assets actually invested (in place).
(2)The introduced project shall be counted only upon approval by and registration with departments concerned of the municipal government and one month after the project is put into production with regular operation. 
(3) The paid-in investment amount shall be confirmed by a capital verification report issued by a public accounting firm with certified capital verification and assessment qualification. The charges thus arise shall be shared by the public finance at the level where the project is located and the investment introducer at a proportion of 50 per cent each.
(4) The introduced investment eligible for the reward shall have a minimum gross investment of RMB
5 million.

(5) Investment introducer who meets the above conditions shall apply to the examination and appraisal group for rewarding attraction of investment in Gaoming District, Foshan City and its office for assessment, examination and approval at the end of the year. The office of the group shall summarize and verify the application documents at the beginning of the following year and open to the public for advice before advancing a reward scheme which shall be executed upon assessment, examination and approval by the group. 

Article 6 Reward Standards. Reward winner is awarded according to the following standards.
(1) For introduced investment of or below RMB
10 million (capital in foreign currency shall be converted into RMB, same hereinafter), the reward shall be calculated at a rate of three thousandths of the actual investment.
(2) For introduced investment over RMB
10 million and below RMB50 million (including RMB
50 million), the reward shall be calculated at a rate of four thousandths of the actual investment.
(3) For introduced investment over RMB
50 million and below RMB100 million (including RMB
100 million), the reward shall be calculated at a rate of 4.5 thousandths of the actual investment.
(4) For introduced investment over RMB
100 million, the reward shall be calculated at a rate of five thousandths of the actual investment.
(5) If the introduced project is a high-tech project (upon verification of science and technology department at the provincial level), another one per thousand point shall to added to the above reward standard.

Article 7. Reward distribution. The reward winner shall distribute the reward money in accordance with the following proportion.
(1) If the investment introducer is a functionary of the government organ or public institution in Foshan City, the reward should go to the introducer’s working unit and the introducer at a proportion of 50 per cent each.

 (2) If the investment introducer is not a functionary of the government organ or public institution in Foshan City (he could be citizen from outside Foshan or overseas), the reward shall go to the individual in full.
 (3) If the investor comes to invest in Gaoming on his own, the reward shall go to the investor in full.

(4) The investment introducer shall pay individual income tax in accordance with relevant laws and regulations after obtaining the reward.
Article 8. Payment of Reward. The people’s government at the town (the administration committee of the district) and municipal level are responsible for paying the reward under the current financial system in the town and the city.

Article 9. This decree shall come into effect as of July 1st, 2002. The examination and appraisal group for rewarding attraction of investment in Gaoming District, Foshan City shall be responsible for the interpretation of any issue arising in the execution process. The incentive measures for rewarding attraction of investment issued before the date shall be abrogated at the same time.