Guangdong Province promulgated relevant policies to attract Foreign-Funds Enterprises

Recently, Guangdong Province promulgated a policy document that specifically aimed at attracting foreign investment, namely, “foreign 10”. It mainly focused on some key issues which will be considered by foreign capital enterprises, especially the entering policy, land policy, tax policy and so on. Which is particularly noteworthy are the following:

1. To further expand the market access. It is to gradually push forward the opening up to the outside world in the manufacturing, service and financial sectors. 30% Restrictions on Foreign Investment has been opened. In Manufacturing Industries: will open the limitation about Special Vehicles, and expand foreign enterprises’ shares on New Energy Vehicles Industry. In Service Sector: the limitation of foreign enterprises’ shares on Ship Design, Branch Lines and General Aircraft Maintenance has been cancelled. In financial industry: will widen the restrictions the foreign enterprises’ shares and business scope on foreign investment bank and Securities Company.

2. Financial incentives. In 2017-2022, the new projects (excluding real estate, financial and financial industry projects, the same below) the actual amount of foreign investment (excluding foreign shareholder loans) has more than $50 million; the capital increase projects which exceeded $30 million and the multinational corporations headquarters and regional headquarters which exceeded $10 million, the Guangdong province finance department will give awards that not less than 2% according to the actual amount of foreign capital on that year to the enterprise, the highest award is ?100 million.

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