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Preferential Policy
[2011-12-16]    Hits:7111
Shaoxing was one of the six key cities approved by the State Council in 1992 to take the lead in planning and development in n the south wing of Yangtze River Delta. The urban districts as well as Shaoxing County, Shanyu and Shengzhou cities were Included in the coastal economic opening zones under the approval of the State Council in 1988. Foreign investors are offered preferential policies in land use and taxation.

Land-use Preference
Under the Chinese law, all the land is under the State ownership. Foreign investors may lawfully obtain the land use right for land development, use and business. They may also transfer and lease the land use right. or put it on the mortgage in accordance with the law within the stipulated purposes and term of the use.
 According to the following purposes, the longest terms of the contracted land use right are:
---70 years for residential purpose;
---50 years for industrial purpose;
---40 years for commerce, tourism and entertainment purposes;
---50 years for comprehensive or other purposes;
---2 years for contemporary purposes;
---In regard of agriculture development projects with a business term of more than 15 years, the land use term and the business power of enterprises may be extended to 30 years; in regard of foreign-invested agricultural development projects by using such wasteland or beach land resources as bare hills, slopes, beaches and abandoned water, the land use term and the business power of enterprises may be extended to 50 years.
 
When foreign investors invest to build or manage transportation infrastructure projects, corresponding foreign investors may have the priority to be transferred the land use right along the projects when they are of the same conditions as the Chinese companies. It is permitted to lawfully transfer existing toll transportation infrastructures and the land use and business rights or share ownership of corresponding projects to foreign companies.
 
When foreigners invest in the projects encouraged by the State at an operation term of more than 15 years, the construction land is exempt from land use fee for five years starting from the day when the enterprise obtains the use right, and the fee is collected in half in the following five years. The land use is guaranteed for projects that have a total investment of US$10 million, or that is technologically advanced and has major influence to the local economic development despite that the total investment is below US$10 million.
 
Site development fee is decided according the actual cost of the development, and is collected once for all. Foreign-invested enterprises are encouraged to independently or jointly undertake site development.
 
When foreigners invest in the provincial-level development zones such as Shaoxing Economic Development Zone of Zhejiang Province and Kuaijishan Tourist Resort Zone of Zhejiang Province for business development, the needed land is transferred at the bottom prices of the localities.
Other Preferential Treatments
Foreign-invested enterprises have the priority in the supply of water, electricity and telecommunication facilities for their need of production and living, and are charged the same as the local State-owned enterprises, in addition to the access of corresponding preferential treatment regulations.
 
While being treated the same as State-owned enterprises in bank loans for their working capital, foreign-invested have the priority in obtaining such loans; they may apply to banks for mortgage loans with spot exchange or secured fixed assets. When approved, they can also float renminbi bonds of limited terms.
 
Taiwan compatriots and overseas Chinese investing in Shaoxing, and non-mainland staff they hire for technical jobs and administration are offered multiple-entry-exit visas.
 
Overseas Chinese and investors from Hong Kong, Macao and Taiwan may authorize their mainland relatives or friends as their agents for their investment in Shaoxing; an appropriate number of their relatives may be employed in the enterprises they have Invested. and the relatives may have the access of other privileges.
 
When foreign-invested enterprises in Provincial-level development zones hire senior professionals out of the city, the local authorities where the development zones are located are responsible to settle the change of their domicile and arrange kindergartens and schools for their children.
 
Both the Chinese and foreigners are encouraged to recommend foreign internment to Shaoxing. Anyone who successfully introduces foreign investment or matches economic or technical co-operation will be rewarded according to regulations.
 
Persons holding motor vehicle drive's license of Hong Kong, Macao and Taiwan, or international driver's license, may obtain Chinese driver's license at public security authorities with pertinent residence documents.
 
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China Council for the Promotion of International Trade Shaoxing Branch / CCOIC Shaoxing Chamber of International Commerce
Address:Human Resources and Social Insurance Building, Qudun Road 368, Jinghu New District,Shaoxing,Zhejiang, China 312000
Technical Support:Shaoxing Foreign Trade & Economic Service Center
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