Preferential investment policies in Gansu

Updated: 2013-10-22
( gansu.gov.cn )

In order to seize the historical opportunity of China's implementation of West Development Strategy, to attract capital, technologies and talented people both from home and abroad go participate in the development of Gansu province, Gansu has formulated a series of preferential policies regarding the following seven aspects, including taxation, finance, credit, land-use, mineral resource exploitation, opening wider domestically and internationally, attracting and keeping talented people and improvement of intangible investment environment.

Preferential Policies on Taxation and Finance

(1)From 2001 to 2010, domestic enterprises established in ethnic autonomous prefectures and counties will enjoy reduction and exemption in business income tax, foreign-funded enterprises in the above-mentioned areas will enjoy reduction and exemption in local income tax. (2) Environmental protection and public well fare projects like water supply and drainage and garbage treatment are allowed to get subsidies from the governments at the corresponding levels until the charging standards come into force. (3) Economic organizations and individuals from home and abroad are encouraged to make investment and establish private scientific and technological enterprises in Gansu. (4)Cooperation between enterprises both from home and abroad and scientific research institutes is encouraged. (5) Merger and acquisition of enterprises in Gansu by multinational companies, foreign businesses, foreign-funded enterprises are encouraged. Enterprises within Gansu province can enjoy the same treatment as that of foreign-funded enterprises after they enter into partnership with foreign-funded enterprises through merger, acquisition and purchasing by the foreign-funded enterprises.

Preferential Policies on Credit and Financing

(1)Greater credit support will be given to the key construction projects within Gansu. The connection and coordination between government offices and financial institutions will be encouraged to do a good preparatory work for the projects. (2) Intensify the credit support to large and medium-sized enterprises. (3) To establish and regularize the stock-sharing investment funds and to encourage of new and high technologies. Legal persons with fine assets and abundant financial resources are encouraged to be set up with loans borrowed from banks, and they should be the main body responsible for loans and payment of the loans to the banks by investing in infrastructure construction and industrial application of new and high technologies. (4) Legally and financially qualified subject economic men are encouraged to set up insurance institutions according to the relevant regulations, active support will be given to both Chinese and foreign insurance companies to set up their branches and subsidiaries in Gansu province. (5) Qualified state-owned enterprises are encouraged to transform into joint stock companies and make application for being listed to circulate funds.

Preferential Policies on Land-use

The price for transfer of land-use right shall be reduced by 40 percent for the encouraged enterprises set up by various economic organizations both from home and abroad if they invest in manufacturing and export-oriented enterprises or enterprises of new and high technologies within Gansu. Development zones above provincial level shall enjoy further preferential policies in line with actual conditions upon approval by the provincial people's government.

Policies on Opening Wider Both Internally and Externally

(1)Foreign-invested hospitals in Gansu can be treated as designated medical insurance hospitals for urban workers upon examination and approval. (2)Enterprises from other countries and provinces seeking development in Gansu shall enjoy the same rights and equal opportunities as their counterparts in Gansu in terms of identification of enterprises and their products, examination and appraisal of their qualifications, examination of business scope, project bidding and business, undertakings.

Preferential Policies on Attracting and Keeping Talented personnel

(1)Recruit chief experts and professors to participate in important fields and key projects. Through personal application by the experts and professors themselves, selection by the relevant employers, approval by provincial level personnel department and signing employment contracts with employers, these experts and professors from home and abroad can be recruited with a working period for three years in general. Once they are recruited, these chief experts and professors shall be subsidized 4,000 yuan by the provincial people's government besides the salary, allowance and apartment provided by employers in accordance with the contracts signed between them. (2)Pioneering parks shall be set up for returned overseas students to start business and scientific and technological parks shall be founded in colleges and universities. New and high-tech enterprises founded by returned overseas students shall enjoy not only the preferential policies for new and high-tech enterprises but also for foreign-invested enterprises. (3)Amplify rewards to those who have accomplished the scientific and technological achievements. Those who have fulfilled the industrial application of new and high-tech achievements obtained in enterprises, scientific research institutes and institutions of higher learning thorough various forms will get equivalent stock right, dividends and rewards. (4)Readjust residence moving policies in Lanzhou, relax restriction on residence moving for talents of various types.

Vigorously Improve the Intangible Investment Environment

(1) Reform the project examination and approval system. Except the projects using financial rewards and loans from non-commercial banks as well as those regulated in explicit terms by the state, on the basis of independent decision-making principle, the examination and approval procedures for those businesses whose capital and funds are raised entirely by themselves shall be abolished and the system of project registration and record shall be implemented instead. Projects needed to be examined by provincial departments will submit their project proposals and feasibility study reports to relevant departments, these departments must finish examining the project proposals and feasibility study reports in no more than five workdays if all the materials and documents are provided. For projects needed to be examined by the state, the relevant departments at provincial level sill submit all the materials provided by the project implementing units to examination authorities at state level in 15 workdays for approval. (2) Vigorously push forward the system of finishing all the procedures in one administrative hall and "the First Person Responsibility System" (the system that the first person being inquired will be responsible for making all reply or solving the whole problem so as to give the administered party a good service, if the matters fall into the business scope of the staff, the staff will give a detailed reply, and/or handle the matter in time, for the matters wholly or partly beyond his capacities, the person being inquired will give in formation about the person to be contacted, or lead the inquirer to the related office, site or handling person, for the matters which are not within the duties of the inquired office or department, the first person contacted will make full explanation, and provide necessary assistance.) (3) Arbitrary charges, fund-raising quotas and illegal fines imposed on enterprises are prohibited.