SHENZHEN has announced a comprehensive plan featuring 20 measures to attract and utilize foreign investment, aiming to boost the city’s global economic influence.

From 2023 to 2027, manufacturing enterprises that achieve an annual increase in actual foreign investment totaling US$50 million or more will be eligible for a maximum annual reward of 50 million yuan (US$7 million) per enterprise, with a cumulative maximum reward of 150 million yuan, according to the measures released by the municipal government Tuesday.

Similarly, foreign-invested enterprises (excluding those in the financial and real estate sectors) that meet the same investment threshold will receive a maximum annual reward of 20 million yuan per enterprise, with a cumulative maximum reward of 80 million yuan.

In addition, multinational companies’ regional headquarters accredited by Guangdong Province and multinational corporate headquarters in Shenzhen will each receive a one-time reward of 5 million yuan if their actual annual foreign investment increases by US$10 million or more (excluding those in the financial and real estate industries).

The implementation plan to attract and utilize foreign investments includes 20 measures divided into fields such as improving high-level opening-up in key areas, optimizing the business environment, enhancing the facilitation of investment operations, increasing financial and tax support, and improving mechanisms to promote foreign investment.

In terms of high-level opening up, the city will support world-renowned manufacturers and foreign-funded enterprises in establishing headquarters, R&D centers, and production bases in Shenzhen. It will also promote foreign investment in the biopharmaceutical sector, accelerate the opening up of modern service industries, and broaden channels for attracting foreign investment.

To improve and optimize the business environment, the city will ensure equal treatment for foreign-invested enterprises in government procurement and allow for their participation in setting standards. The city will establish and improve mechanisms for handling complaints from foreign-invested enterprises and expedite the construction of the Guangdong-Hong Kong-Macao Greater Bay Area International Arbitration Center and the Shenzhen International Commercial Dispute Resolution Center.

The plan highlights the optimization of the foreign talent service system and the exploration of secure management mechanisms for facilitating cross-border data flow.

(Han Ximin)