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在线翻译:
szdaily -> News -> 
Qianhai steps up efforts to court foreign investment
    2020-09-18  08:53    Shenzhen Daily

THE Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone is making another big move to attract foreign investment by offering as much as 50 million yuan (US$7.39 million) in rewards to foreign companies who make new investments in the zone.


It was made clear in a plan published on the latest Shenzhen Municipal Government Gazette. The plan will be valid until Sept. 14, 2023.


Eligible applicants for the rewards must be foreign-funded businesses that are registered in Qianhai, pay taxes in Qianhai and have no record of any major violation of laws and regulations, the plan says. They should also make no less than US$5 million in initial investment, or make no less than US$3 million of additional investment, in Qianhai in the past year.


The reward will be 1 percent of the annual amount of the foreign capital actually utilized. The ceiling for the reward is set at 50 million yuan.


The authority will also provide subsidies to companies to offset their operation costs and reward investment agencies for their contributions to seek investment.


The amount of subsidies will vary from 2 million yuan, 1 million yuan and 500,000 to 200,000 yuan, respectively, each year, depending on the scale of the companies, which are divided into headquarter firms, listed firms, global or China’s top 500 firms, licensed financial institutions, State-level high-tech enterprises, and major taxpayers. They can receive the subsidy for up to three consecutive years.


Qianhai has reported an annual growth of 89.2 percent in the added value of the enterprises registered in the free trade area over the past decade, according to a press conference marking its 10th anniversary in August.


The free trade area was ranked first in the country last year in terms of GDP per square kilometer, at 15.26 billion yuan. Qianhai’s actual used foreign investment reached US$4.1 billion yuan in 2019, ranking No. 2 among the country’s free trade zones and areas, after Shanghai’s free trade zone. The amount accounted for 53.3 percent of Shenzhen’s total, 20.5 percent of Guangdong and 3 percent of the national total.


As of June, Qianhai had about 11,700 Hong Kong-funded enterprises, with a total registered capital of 1.31 trillion yuan. Qianhai has used US$20.3 billion of Hong Kong funds, accounting for 89.9 of the total foreign capital used by the free trade area.


(Wang Jingli)

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