Incentive Measures of Nanhai District
2009.06.23

Incentive Measures of Nanhai District

No. 135 [2003] Decree of the People’s Government of Nanhai District

Circular on Issuing the Trial Incentive Measures for Rewarding Attraction of Investment in Nanhai District, Foshan City

 People’s government and sub-district offices of all towns and units above the bureau level directly under the district:

The Trial Incentive Measures for Rewarding Attraction of Investment in Nanhai District, Foshan City are hereby distributed to you in print, please implement and execute accordingly.

 September 22nd, 2003


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

Article 1. This decree has been formulated for the purpose of encouraging all sectors of the society to actively take part in attracting investment and expanding the channels for absorbing investment, so as to promote sustained and rapid development of the economy in Nanhai District.
Article 2. Attraction of investment in this decree refers to the behavior of introducing and recommending trader as well as capital from outside Nanhai to carry out project investment in the district.
Article 3. Any enterprise home and abroad, social group, financial organization, institution and individual (hereinafter refer to as the recommender) is entitled to the reward who introduces capital into the district, recommends trader with explicit investment intention to settle in Nanhai and directly supplies contact, introduction and other services for the trader’s investment behavior, and leads to a successful investment.

Article 4 The recommender shall be granted the reward if the introduced capital is invested in the following projects.

1. Industrial projects;

2. Trade and commercial circulation, hotel, tourism projects;

3. Agricultural development projects;

4. Other projects upon verification.

Article 5. Reward standard:
1. For introduced foreign investment project, the reward shall be granted in certain proportion to the register capital actually in place after the project is completed and put into production. Please see the table below for details.

Introduced Investment (USD)

Reward Standard

1~3 million (including 1 million)

registered capital actually in place ×0.4%

3~10 million (including 3 million)

registered capital actually in place ×0.5%

over 10 million (including 10 million)

registered capital actually in place ×0.6%

 

If the introduced foreign investment project falls within the Catalogue of Encouraged Hi-tech Products for Foreign Investment (2003) issued by Ministry of Science and Technology and Ministry of Commerce of the People’s Republic of China, the reward standard shall be raised accordingly. Please see the table below:

Introduced Investment (USD)

Reward Standard

1~3 million (including 1 million)

registered capital actually in place ×0.5%

3~10 million (including 3 million)

registered capital actually in place ×0.6%

over 10 million (including 10 million)

registered capital actually in place ×0.7%

2. For introduced domestic investment project, the reward shall be granted in certain proportion to the investment amount of fixed assets after the project is completed and put into production. Please see the table below for details.

Introduced Investment of Fixed Assets (RMB)

Reward Standard

5~20 million (including 5 million)

fixed assets investment ×0.3%

20~60 million (including 20 million)

fixed assets investment ×0.4%

60~100 million (including 60 million)

fixed assets investment ×0.5%

over 100 million (including 100 million)

fixed assets investment ×0.6%

The reward standard shall be raised accordingly if the introduced domestic investment project falls within the Catalogue of New and Hi-tech Products of China and the Classified Coding Catalogue of New and Hi-tech Products of Guangdong Province issued by Ministry of Science and Technology, Ministry of Finance and State Administration of Taxation, and is assessed to be a hi-tech enterprise by the science and technology department above provincial level, or, if the introduced domestic investment project falls within the Catalogue of Equipment (Products) of Environmental Protection Industry Currently Encouraged by the State promulgated by State Economic and Trade Commission and State Administration of Taxation, and is assessed to be the project of the environmental protection industry by the environmental protection department above the provincial level. Please see the table below:

Introduced Investment of Fixed Assets (RMB)

Reward Standard

5~20 million (including 5 million)

fixed assets investment ×0.4%

20~60 million (including 20 million)

fixed assets investment ×0.5%

60~100 million (including 60 million)

fixed assets investment ×0.6%

over 100 million (including 100 million)

fixed assets investment ×0.7%

The fixed assets investment includes land purchased for the enterprise, civil engineering, installed equipment,buildings and structures as well as investment in equipment for production, examination, test and experiment.  
Article 6: Confirmation of recommender’s qualification

1. Confirmation of recommender’s qualification shall be carried out by the investment party of the project and the administration committee of the industrial plate in the town where the project is located or the people’s government of the town (sub-district office).

2. Should there be two or more recommenders for one project, the reward will be granted at the standard of one project.

Article 7. Application and Reward Procedure:

1. When the project is completed and put into production, the recommender shall submit to the Bureau of Economy and Trade of the district the confirmation letter of project reward having been recognized by the investment party and the administration committee of the industrial plate in the town where the project is located or government of the town (sub-district office) (including confirmation of recommender’s qualification, confirmation that the project has been completed and put into production, verification of capital and assets and others. The situation of capital in place of foreign investment project shall be examined and verified by Bureau of Foreign Trade and Economic Cooperation of the district), which, shall be examined and verified by Bureau of Economy and Trade of the district for opinion before reporting to the people’s government of the district for approval.

2. Reward shall be paid in full within one month after receiving approval from the district government
3. For projects with domestic investment, the reward shall be paid by RMB. For foreign investment projects, the reward, upon approval by the district government, shall be converted into and paid by RMB at the foreign exchange rate on that day (middle rate).

Article 8. Following the principle of “who benefits pays the reward”, the reward shall be advanced by the public finance of Nanhai District and shall be squared up by the public finance at the district and town (sub-district) level at a proportion of 50% each.
Article 9. The new investment projects set up by enterprises in the district shall be awarded with reference to this decree. For enterprises in the district, follow-up injection of capital and enlargement of production, relocation of enterprise, closing the old enterprise and opening a new one do not apply to this decree.

Article 10.Investment introduced by staff of any administrative department of the district and town (sub-district), villagers committee, administration committee of the industrial plate in the town and unit to which the premises belong falls outside the range of reward stipulated in this decree.  

Article 11. After the promulgation of this decree, all towns (sub-districts) shall decide on their own whether to continue, adjust or cancel the original incentive measures for rewarding attraction of investment of the towns (sub-districts) and settle the expenditure by themselves.

Article 12. The Bureau of Economy and Trade of Nanhai District shall be responsible for the interpretation of this decree.

Article 13. The decree shall take effect on a trial basis as of the date of promulgation.