Investment policies

  • Release date:2010-12-27  15:58
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  •   I.Encouraging great investment and fostering large-scale enterprises

      1. Encouraging enterprises to invest. The following supporting policies may be available for those enterprises encouraged by the government which have over 10 years of operation, comply with relevant rules and whose equipment investment amounts to ¥30 million(the equipment investment of the  enterprises in the new zone of the Haiyan Economy Developing Area should be up to ¥60 million), and also for those encouraged by the government whose equipment investment reaches ¥30 million(the equipment investment of the enterprises in the new zone of the Haiyan Economy Developing Area should be up to ¥100 million):

      The new domestically-funded enterprises and foreign-funded ones which are fully invested and  whose registered capital reaches ¥30 and $5 million respectively(the registered capital of the domestically-funded enterprises or foreign-funded ones in the new zone of the Haiyan Economy Development Zone should be up to ¥60 million or $10 million) will be rewarded financially from the next year after their projects are put into production in accordance with the following graph. Before their projects are put into production, if the products are produced in their other production bases out of Haiyan and are sold through their new firms in Haiyan, those enterprises will have access to a financial reward about 50% of the total income that the local government has received from the business tax, value-added tax and enterprise income tax they have paid. As to those existing enterprises, if they enlarge their investment here, they may be available to the financial reward in accordance with the following graph from next year after their new projects are put into production. value-added tax value-added tax value-added tax


    Tax Categories

      Project Categories

      Financial reward

      Approximately equal to the local income from the enterprise income tax and value-added tax or in proportion to their growth

      First year

      Second year

      Third year

      Fourth year

      Fifth year

    Enterprise Income Tax

      Common Projects






      Industrial Upgrading Projects






      Value-added Tax

      Common Projects






      Industrial Upgrading Projects






      The investment intensity of those projects available topreferential policy  the preferential policy of this article must be 1.2 times higher than that provided by Zhejiang Province. Those projects available to the policy of this article will have no access to the policies provided in Article 7 and Article 23. If the projects are signed based on the other preferential policies, they will be available for those preferential policies singed.      

      2. Encouraging the annexation and reorganization of enterprises. Encouraging leading backbone enterprises in Haiyan (i.e. industrial leading backbone enterprises with their production value reaching over¥100 million in Haiyan County ) to annex and reorganize small and medium enterprises in the County by assuming their debts or absorbing or purchasing their shares etc. to optimize and collocate the industrial resources, to take advantage of each other's strengths to improve their competitiveness. The fees or taxes received by the government in annexation and reorganization will be refunded to them as rewards proportionally after the government's approval.

      3. Encouraging enterprises to list at home abroad. The ownership certificates should be completed lawfully and integrated into the enterprises to be listed if their assets ownership is indisputable while their ownership certificates are not complete due to the history in the process of their annexation and reorganization. The fees or taxes received by the government in annexation and reorganization will be refunded fully as rewards to the relevant enterprises to be listed after the government’s approval.

      Those enterprises which have implemented joint stock system will be rewarded ¥200,000;and those which have received the guidance for getting listed and registered for the record in Zhejiang Securities Regulatory Bureau will be rewarded ¥800,000 more;and the work teams of the enterprises whose financing funds are used for the local development will receive a reward of ¥1 million; and those who reinvest their financing funds up to ¥100 million in the fixed assets in Haiyan within 2 years will receive ¥1 million more; and those enterprises who succeed in acquiring other listed companies out of Haiyan and moving their registered places to Haiyan are available to the reward of ¥ 3 million.

      II. Encouraging the development of headquarters economy and pushing forward the upgrading of enterprises

      4. Those headquarters enterprises whose products are produced in their other production bases out of Haiyan but sold through their headquarters firms in Haiyan will gain a financial award about 50% of the total income that the local government has received from the value-added taxes they have paid.

       5. Encouraging headquarters enterprises of Haiyan to locate themselves in the gathering zone of Haiyan Science & Technology Innovation Park. Corresponding subsidies or rewards would be offered to those headquarters enterprises which are to build, rent or purchase headquarters buildings.

      III. Encouraging technological upgrading and supporting medium or small enterprises

      6. Encouraging medium or small enterprises to expand their investment. 4% of the whole equipment investment but not more than ¥2 million will be offered as rewards to those enterprises  which are the technologically upgrading projects with the equipment investment amounting to ¥2 million which have been approved or recorded.

      This article of policy is still available for the technologically upgrading projects of those enterprises which have ever gained the land subsidy but whose original projects have been finished and which are not any more enjoying the promised preferential policy in tax. (The same below)

      7. Encouraging enterprises to obtain favorable policy from the government at the higher level. Matching allowance and interest discounts are offered in accordance with the demands from the higher-level government to those industrial enterprises which have gained the specific fiscal funds above the provincial level for upgrading industrial enterprises.

      ¥100,000 is offered as rewards to the enterprises which succeeded in producing the first identified set of equipments.

      8. Encouraging the mini-size enterprises to enlarge their scales. ¥20,000 is offered as rewards to those  new enterprises above designated size with taxes paid amounting to ¥150,000.  

      IV. Encouraging the development of industrial cluster and implementing the Project of “415”

      9. “One policy for one enterprise”may be carried out to support those major projects or headquarters enterprises which both can promote the local economic and social development, or to support those leading industrial backbone enterprises above the county level.  

       10. 6% of the whole equipment investment but not more than ¥3 million will be offered as rewards to those enterprises which are the identified industrial upgrading projects or to those approved or recorded technical renovation programs with the equipment investment amounting to ¥3 million. Meanwhile, proportional risk compensation will be given to those enterprises in terms of innovation or research and development.

      V. Encouraging independent innovation and adopting brand strategy

      11. ¥500,000 awarded one time to enterprises that possess China well-known trademarks and famous brands. For those that have expanded business and achieved a 50% growth of sales income in two years by using the famous brands and products, another ¥500,000 will be awarded. (But for those that obtain well-known trademarks through judicial means ,the sum of its one-time award and the second-time award is respectively ¥250,000 ).

      For those that possess well-known trademarks and products of famous brands, and those named well-known trademark and brand bases , the one-time award is ¥80,000. Those enterprises possessing superior quality projects at provincial level will also get a one-time award of ¥80,000.

      ¥200,000is awarded one time to enterprises with key export products and supported by the Ministry of Commerce ; and ¥100,000 to the key products supported by Zhejiang Province.

      ¥50,000 is awarded to the enterprises in Jiaxing city that have obtained the corresponding brands and titles.

      12. Encouraging enterprises to apply for international standards certification.A subsidy of ¥10,000is granted to enterprises that have exported products and got their trademarks registered in the importing country. The sum of subsidy doubles in accordance with the number of registrations. Same policy is applied to those that have exported products and have passed such international standards certification as UL and CE.

      13. Continuing the implementation of technology standard strategy. Besides other awarding policies included in the documentation No. 54 of 2008 issued by the Haiyan Municipal Government, ¥80,000and ¥40,000 one-time award is granted respectively to enterprises that have got the title of "standard innovative enterprise" at both provincial and municipal levels.

      14. Strengthen the credit system construction.¥50,000 is awarded one time to those that have been entitled " Enterprises fulfilling contracts with good credit" at the state-level and to those entitled "Good-credit Enterprises" at the provincial level.

      15. For those that have passed the inspection of standardized safety production at state, provincial and municipal levels, the respective one-time award is ¥100,000, ¥50,000and ¥25,000.

      16. Encouraging enterprises to establish R&D centers.¥200,000 or ¥80,000 is given respectively to those approved at the provincial or municipal level. Enterprises are also encouraged to pass Lab inspection ans assessment, and one-time award of ¥100,000 is given to a state-level Lab .

      17. Encouraging the development and creation of provincial-level regional brands.One-time award of ¥100,000 is granted to the organizations or units with regional brands of provincial level.

      VI. Encouraging market expanding and developing both domestic and foreign trades.

      18. Encouraging enterprises to participate in domestic and foreign credit insurance to reduce the risk of payment collection.A bonus of 50% of the insurance fee is given to the enterprises that have participated in the short-term export credit insurance and domestic credit insurance on payment provided by China Export Credit Insurance Company.

      19. Encouraging enterprises to take the initiative to expand markets and enhance product promotion. If the enterprise participates in the foreign exhibition with a registration, or Guangzhou trade fair , 70% of the booth fee will be repaid by the government, and the highest standard is ¥20,000 ; with other domestic exhibitions and fairs, 50% of the booth cost is repaid, with the highest up to ¥10,000. 100 % of the booth fee is repaid to those that participate in the exhibitions assigned by the government.The total sum of bonus to each enterprise is confined to ¥150,000 a year.

      20. Actively dealing with international trade frictions . Enterprises are encouraged to actively respond to the lawsuits on anti-dumping, countervailing and safeguard measures. 40% of the fee entailed , the total of which is not more than ¥500,000, will be repaid by the government. But the part that has been included as the subsidy by the upper-level government will not be reimbursed, and only the sum which is not up to the subsidiary standard is to be reimbursed.

      21. Encouraging export enterprises to take the initiative to expand foreign markets and open up new businesses abroad (mainly operating companies, production companies, marketing network). One-time award of ¥80,000 is granted to enterprises with the foreign investment over $ 1 million and that have actual operation and promote local products export up to $ 1 million or more ; the sum of ¥50,000is given to those with the foreign investment below $ 1 million .

      VII. Encouraging industrial agglomeration and accelerating platform construction

      22. 5% interest subsidy (the annual total fund confined below ¥25 million ) is granted to town-level industrial parks, based on the actual expenditure covering infrastructure construction implemented and designed by the industrial park (including the roads, bridges, drainage, sewage, electricity facilities, greening etc.) ,land treatment and demolition and moving of farmers' houses. The subsidy must be specifically used in the industrial park construction.

      23. According to the "Assessments on the transformation and upgrading of town-level industrial parks in Jiaxing City", No. 19, 2000, issued by the Jiaxing Municipal Government, an one-time award of ¥2 million, ¥1 million and ¥600,000 is granted respectively to the town-level industrial parks that have successfully transformed and upgraded at super class, A class and B class levels. If the industrial park has already been awarded for its upgrading,or if the park has further upgraded, the sum between the two awards will be made up.The subsidy must be specifically used in the industrial park construction.

      24. Starting the second round construction of standard factories.In principle, no special land is granted to industrial projects whose land-use size is below 10 acres. These projects are expected to enter the town-level industrial park and set up SME enterprising centres (with the total floor area of 50,000 square meters or more)or standard factories (with total floor area of 10,000 square meters or more)in specifically allocated areas.

      3% of the actual investment is rewarded to enterprises that have set up standard factories, enterprising centres and farmers' apartments according to the construction plan, and have the inspection passed and the leasing contract assessed . Additional bonus of 2% of the actual investment is reimbursed when all the enterprising centres and farmers' apartments are completed and leased according to the original construction plan.

      1:1 matching award is given to those that have been listed as the provincial-level enterprising bases.

      25. County-level insurance companies are supported to provide financing isurance for SMEs . The government will provide a 0.5% specific subsidy of risk to the companies that have been confirmed in providing insurance for various enterprises with the annual sales income below ¥20 million , based on the average daily balance of the annual insurance fund. The annual maximum grant for each insurance company is not over ¥2 million.

      A bonus of 50% of the taxes paid to the local government is given back to the company.

      Regarding the the fund use and management, please refer to " Several policies and suggestions on setting up private credit insurance agencies for SMEs in Haiyan County " (No.60,2005, issued by Haiyan Government) .

      VIII. Publicizing excellent enterprises and encouraging them to make better contribution.

      26. Various compaigns are to be launched by the county Party Committee and Government to select ,name and publicize " Industrial enterprises with outstanding contribution ", "Excellent enterprises taking new approaches to industrialization", "Enterprises with technological innovation", "Key enterprises with export products" and " Top ten enterprises in tax payment" .

      27. Each year, the chief enterpreneurs of " Enterprises with outstanding contribution" will be honored as " outstanding enterpreneurs" , and will be praised and awarded by the county Party Committee and Government.

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