Financial High-tech Zone at Qiandenghu Lake (Photo by Foshan News)
In order to make further use of foreign capital, Foshan Bureau of Commerce has recently begun a special fund declaration for high-quality development of foreign investment.
The plan also goes hand in hand with “Several Policies and Measures for Foshan’s In-depth Opening Up to Realize High-quality Development by Utilizing Foreign Investment” (2020 revision).
Let's see take a look at this project.
Declaration Guidelines for Special Funds for the Promotion of High-quality Development of Foreign Investment in Foshan (2021)
1. Applicants qualifications, requirements and standards:
1) projects newly registered or augmented in Foshan with at least USD 5-million actual use of foreign investment
2) projects run by Fortune 500 enterprises or major projects catering to Foshan’s industrial development (see below), with USD 3-million actual use of foreign investment
These projects will be rewarded with not less than 2% of their actual investment, with a maximum bonus of 20 million yuan.
For major projects catering to Foshan’s industrial development, the following are the main industries that the project covers:
equipment manufacturing, pan-home furnishing, automobiles and new energy, military-civilian integration projects and digital information, intelligent equipment manufacturing and robots, new materials, food and beverages, bio-medicine and comprehensive health
For enterprises that meet these requirements, they can log in the comprehensive service platform by Foshan government (see https://fsfczj.foshan.gov.cn/) before March 9th for declaration. Don’t miss out on it!
2. Objects and basis for bonus:
1) The project covers all qualified foreign-invested enterprises (except for those in real estate, finance and related financial projects)
2) Industry classification will be based on “PRC’s Industrial Classification and Codes for National Economic Activities”. Fortune 500 companies will be classified based on information data by the Ministry of Commerce (hereinafter referred as MOC).
3) The bonus will be based on the foreign investment registered in 2020 on “Overall Management System for Foreign Investment” of MOC (see https://iecms.mofcom.gov.cn/)
Auhtor | Jersey
Revisor | Jessica