BIZCHINA / Policies
Investment Policies of Gansu Province
(gansu.gov.cn)
Updated: 2006-05-17 09:05
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% 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 5 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.
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