1988.05.25
HEBEI PROVINCE
IMPLEMENTING PROVISIONS FOR THE ENCOURAGEMENT OF FOREIGN
INVESTMENT IN QINHUANGDAO ECONOMIC AND TECHNOLOGICAL DEVELOPMENT ZONE
(Promulgated by the People's Government of the Qinhuangdao City on
May 25, 1988)
These provisions are formulated to further encourage foreign
investment, (including investors from Hong Kong, Macao and Taiwan),
and speed up the construction of Qinhuangdao Economic and
Technological Development Zone. Those who invested in the zone will
enjoy not only the related policy for the encouragement of foreign
investment regulated by State and local government, but also enjoy
the following:
(1) The administrative committee of the development zone is
the only "window' to the outside world. Making office work a
coordinated process, all offices and departments under the
adiminstrative committee shall provide effective and high-quality
services.
Upon the receipt of documents applicated by foreign investment
enterprises, the approval will usually be given within 15 days,
to guarantee the satisfaction of foreign investors. In order to
supervise, we have established the supervision telephone, please
call: 35623 if you meet problems.
(2) We will establish "Qinhuangdao Economic and Technological
Development Zone Import and Export Corporation " which will deal
with all business concerning the import and export for foreign
investment as well as provide all kinds of services and conveniences.
Bonded warehouse and bonded workshop have been set up for the
convenience of imported and exported commodities of the foreign
investment in the zone.
(3) All foreign investment in the zone shall be exempted from building
tax.
(4) From the year of putting into production, the foreign investment
in the zone shall be exempted from the real estate tax and the
licence duty for the use of vehicles and ships, etc. for a period of
four years.
(5) Research work, new product development involved in foreign
investment shall be exempted from all taxes when they are under
testing process; it will be exempted from income tax for two years from
the profit-making year.
(6) All financial establishments in the zone shall help the
enterprises with foreign investment on floating capital needed
for production and management. The loan priority will by given
to those enterprises with advanced technology, and export-oriented
enterprises.
(7) The enterprises with foreign investment may freely adjust their
foreign exchange surpluses and deficiencies by means of foreign
exchange adjustment market of the zone with no restriction.
(8) We will practically improve the production materials
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