The Administration Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone formulated and issued the Foreign Investment Rewarding Measures recently to attract more foreign investment and support the development of foreign invested enterprises in Qianhai. The Measures shall come into force on 25 March 2024 and shall be valid for 3 years.
Qualification for Rewards
A foreign invested enterprise (including the Hong Kong, Macao and Taiwan invested enterprises) qualified for the rewards shall meet all the following basic requirements:
(1) Registered and having substantial operations in Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone (including the expanded area of the cooperation zone).
(2) Not engaged in the real estate industry.
(3) Not included in the list of seriously dishonest entities.
Criteria for Rewards
(1) Financial Sector: whose increased actual use of foreign capital is no less than USD5 million last year can be rewarded 1% of its annual actual use of foreign capital.
(2) Non-financial Sector: whose increased actual use of foreign capital is no less than USD5 million last year can be rewarded 1% of its annual actual use of foreign capital; whose increased actual use of foreign capital is no less than USD30 million last year can be rewarded 1.5% of its annual actual use of foreign capital.
(3) The maximum amount of foreign investment rewards enjoyed by a single foreign invested enterprise each year shall not exceed RMB30 million.
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