Ten Preferential Policies for the Promotion of Advanced Manufacturing Development in Yangpu Economic Development Zone

Post Reply
User avatar
TropicalHainan
Site Admin
Posts: 280
Joined: Tue May 18, 2021 5:36 am

Ten Preferential Policies for the Promotion of Advanced Manufacturing Development in Yangpu Economic Development Zone (Trial).jpg

Ten Preferential Policies for the Promotion of Advanced Manufacturing Development in Yangpu Economic Development Zone (Trial)

The preferential policies are hereby formulated in order to promote the development of the advanced manufacturing industry in Yangpu Economic Development Zone, to further optimize the industrial structure and to foster the formation of industrial clusters with high-quality development and rapid economic growth.

The advanced manufacturing industries which benefit from the Policies include new-generation information technology, high-end CNC machine tools and robots, aerospace equipment, new energy vehicle manufacturing, integrated circuits, high-end medical equipment, IoT equipment, intelligent manufacturing equipment, new materials and other industries.

Article 1 Reward for Settlement of Key Enterprises

(I) An independent company which is established by a Fortune 500 or a Chinese Top 500 company in Yangpu Economic Development Zone and which has an actual fixed asset investment project in Yangpu is entitled to enjoy the following preferential policies:

1. Foreign-funded enterprises with paid-in registered capital of more than USD20 million and the fixed asset investment(excluding land, the same below) in Yangpu investment projects of not less than USD100 million will be given a one-time reward of RMB 20 million (hereinafter referred to as “RMB”).

2. Domestic enterprises with paid-in registered capital of more than RMB 100 million and the fixed asset investment in Yangpu investment projects of not less than RMB 500 million will be given a one-time reward of RMB 10 million.

(II) For recommended companies that play a major and critical role in project introduction and negotiation and ultimately promote the project’s landing, foreign-funded projects will be rewarded at 6 ‰-10 ‰ of the actual funds in place, and domestic-funded ones will be rewarded at 2.5 ‰-4.5 ‰ of the fixed asset investment with the maximum of RMB 10 million.

Article 2 Internationally Competitive Fiscal and Taxation Support

(I) Qualified enterprises engaged in advanced manufacturing will be fully subsidized with the corporate income taxes retained by Hainan Province and Yangpu for 3 consecutive years from the year when the corporate income tax is first paid.

(II) Officers and talents of qualified enterprises will be fully subsidized with the individual income taxes retained by Hainan Province and Yangpu for 5 consecutive years from the year when the individual income tax is first paid. For people paying monthly individual income tax of more than RMB 30,000, “one case one discussion” method will be adopted to determine a more favourable support policy.

(III) Since the completion date, the newly settled projects will be subsidized for 100% of VAT retained by Yangpu for the first 3 years, and 50% for the 4th and 5th year.

Article 3 Reward Calculated as Per Fixed Asset Investment

For projects with fixed asset investment of more than RMB 50 million, subsidy will be given at 8% of the actual fixed asset investment with the maximum of RMB 100 million.

Article 4 Land Supply Support

(I) The industrial land required for projects in Yangpu is provided at the cost price of land.

(II) Leading projects, industry-driven projects, projects with internationally leading or domestically initiative technology may enjoy the reward policies by “one case one discussion” for key project start nodes with the maximum of 40% of land acquisition after the start of construction.

Article 5 Workshop Lease Support

(I) The “three years for free, two years of half rent” policy will be implemented for leasing plants invested and constructed by Yangpu Economic Development Zone Management Committee (no rent for the first 3 years, half of the rent for the 4th and 5th year)

(II) For leasing plants constructed by the enterprise, rent subsidy will be provided at 50% of the equivalent workshop rent standard of Yangpu Economic Development Zone Management Committee for no more than 5 years.

Article 6 Logistics Support

From the completion date of the newly settled projects, if the products or raw materials for production are transported in containers, they will be subsidized at RMB 500 per standard container with the maximum of RMB 3 million per year and of 3 years.

Article 7 Foreign Trade Reward

The newly established enterprises in Yangpu Economic Development Zone with the fixed asset investment of more than RMB 50 million and an annual total import and export volume of more than USD3 million are entitled to enjoy from the following policies:

(I) Enterprises whose goods go through customs formalities for import and export from ports outside Yangpu will be subsidized at the standard of RMB 0.03/ USD.

(II) Enterprises whose goods go through customs formalities for import and export at Yangpu port will be subsidized at the standard of RMB 0.05/ USD.

(III) Newly-established enterprises can be subsidized up to RMB 10 million per year and up to 3 years.
Article 8 Bonded Processing and Maintenance Support

(I) For hi-tech, high added value and high environmental protection projects that are in line with Yangpu’s industrial development direction and whose produced and processed products have the value-added rate of more than 30%, the tariffs for domestic sales (excluding value-added tax and consumption tax for import) will be fully subsidized with the method of “one enterprise, one discussion” up to RMB 10 million.

(II) Support will be provided for bonded inspection and maintenance business. If the mechanical and electrical equipment of the enterprises in Yangpu adopt the tax insurance model to transport the goods out of Yangpu for maintenance, they will be subsidized for 50% of the insurance money up to the maximum of RMB 1 million.

Article 9 Innovation Reward

(I) Academicians of the Chinese Academy of Sciences and Chinese Academy of Engineering with projects and funds or talents in line with national “Thousand Talents Plan” who set up a workstation in Yangpu and conduct project incubation will be given a one-time reward of RMB 4 to 8 million after identification and an annual operating expense of RMB 3 million up to 3 years.

(II) The newly identified national R&D centres, enterprise technology centres and national key laboratories will be given a one-time reward of RMB 5 million and an annual operating expense of RMB 2 million up to 3 years.
(III) The newly identified provincial R&D centres, enterprise technology centres and key laboratories will be given a one-time reward of RMB 3 million and an annual operating expense of RMB 1 million up to 3 years.
Article 10 Financing Support

(I) Subsidized loan support.
Support will be provided for 25% of the total interests (excluding penalties) of the first three years of the project’s fixed asset investment loan and the cumulative maximum for a single project shall be no more than RMB 5 million.

(II) Finance lease support.

For the purchase of production and corollary equipment through finance lease, support will be given at 1% of the total amount of finance lease with the maximum of RMB 5 million.
(III) Industry funds support.

Projects that are in line with the direction of industrial development and approved by the fund manager will be given direct investment support from the industry funds (including the industry funds established by Yangpu and Hainan Province) at the rate of no more than 10% of the total amount of investment with the maximum of RMB 10 million.

Supplementary Provisions

The policies will be implemented from the date of release with a validity period of 3 years. The specific implementation is subject to the released supporting Implementing Regulations.

The policies act in line with the existing preferential policies of Yangpu Economic Development Zone abiding by the principle of “preferential and non-repetition” and is based on the research of current fiscal and taxation system. In case of major policy adjustments on national free trade port and other items, the policy content and Implementing Regulations shall also be adjusted.

The Investment Promotion Bureau of Yangpu Economic Development Zone, the Bureau of Finance, the Economic Development Bureau, the Bureau of Planning and Construction Land, the Bureau of Transportation and Ocean and the authority of the Bonded Port, etc. shall reserve the right to interpret the Policies.

Hainan Province Yangpu Economic Development Zone Working Committee of Chinese Communist Party
Yangpu Economic Development Zone Management Committee
January 8, 2020


Register your business for free.gif

Register and subscribe.jpg

Click HERE to REGISTER

What are the Forms of foreign investment in the Hainan Free Trade Port?

Yanpu Economic Development Zone Investment Guide

Yangpu Economic Development Zone’s Ten Measures to Encourage Talent Introduction
Post Reply