Qianhai issues new rules for rewarding foreign-funded enterprises
The Qianhai Authority recently issued a new incentive to reward foreign-invested enterprises based on the increase in actual foreign capital used in Qianhai from the previous year.
A single enterprise can receive a maximum reward of 30 million yuan (US$4.16 million) per year. These measures will take effect March 25 and will be valid for a period of three years.
According to the new rules, foreign-invested enterprises will be eligible for the rewards if they increase the actual foreign capital they use in Qianhai by no less than US$5 million over the previous year. They will be awarded 1% of the annual actual foreign capital used.
For increased investment of no less than US$30 million, the reward will be calculated at 1.5% of the annual actual foreign capital used.
Previously, Qianhai provided a 1% reward to foreign-invested enterprises based on the actual annual amount of foreign capital used.
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