Li Zibin, deputy director of the Development Leading Group Office of the Western Region of the State Council, delivered a speech at the International Symposium on Developers and Policies in the Western China held here today. He briefed the people of all circles at home and abroad on the progress, priorities, and policies of the Western Development and the The most systematic and authoritative publication of a series of preferential policies introduced to speed up the opening up of the western region has been carried out.
He said in his speech that the current implementation of western development focuses on water conservancy construction, transportation construction, energy construction, communications and municipal construction, ecological construction, environmental protection, agricultural development, industrial development, service industry development, science and technology education, and social development. 10 aspects. In order to encourage foreign investment to enter the western region, the relevant departments of the State Council have formulated a series of preferential measures:
1. Expand the field of encouraging foreign investment. Foreign-invested projects in advantageous industries in the western region may enjoy preferential policies for foreign investment- encouraged industries.
2. Tax incentives are granted to foreign-invested enterprises. Foreign-invested enterprises in encouraged industries in the western regions shall be subject to a corporate income tax rate of 15%; foreign-invested enterprises in ethnic autonomous areas may be exempted or reduced from local income taxes with the approval of the provincial government. In the Western Region where foreign businessmen establish new transportation, power, water conservancy and other enterprises, the enterprise income tax shall be “two exemptions and three reductionsâ€; foreign investment in energy companies, high-tech enterprises, export-oriented enterprises, software and integrated circuit companies shall be implemented. Corresponding tax incentives; foreign-invested projects for state-encouraged industries that import advanced equipment for their own use are exempt from customs duties and import value-added tax.
3. Expand service trade opening to the outside world. The pilots of foreign investment in banks, commercial retail enterprises, and foreign trade enterprises will be extended to municipalities directly under the Central Government, provincial capitals, and capital cities in the autonomous region. Foreign banks in the western region will be allowed to gradually conduct RMB business; foreign investors are allowed to invest in telecommunications, insurance, and tourism in the western region. Set up Chinese-foreign joint venture accounting firms, law firms, engineering design companies, railway and road freight companies, municipal public enterprises, etc.; allow foreign investors to invest in the construction and operation of urban natural gas pipeline networks.
4. Broaden foreign investment channels. In the western region, we will expand the pilot program for attracting foreign investment in BOT mode and launch pilot programs to attract foreign investment in T0T mode. Enterprises that are encouraged and permitted by the state may transfer operating rights, transfer equity, mergers and acquisitions, Sino-foreign joint venture funds, and risks. Investment funds, etc., absorb foreign investment.
5. To relax the conditions for using foreign capital. Foreign investment in infrastructure and advantageous industrial projects in the western region, appropriately liberalizing the ratio limit of foreign investment; foreign parties can control the West-East Gas Pipeline project; foreign investment in infrastructure and advantageous industrial projects in the western region can be appropriately relaxed by domestic banks The proportion of fixed assets investment in RMB; for projects of state-promoted industries, domestic banks may provide fixed-asset investment in RMB loans without being subject to a proportional limit; foreign-invested projects are allowed to carry out project financing including RMB.
6. Encourage reinvestment of foreign-invested enterprises in China. For foreign investment projects in the western region, where the proportion of foreign investment exceeds 25%, foreign-invested enterprises can enjoy the corresponding treatment; foreign-funded enterprises in the coastal areas are allowed to go to the west for contracted operations to manage foreign-invested enterprises and domestic-funded enterprises.
7. Encourage foreign investment in the development of non-oil and gas mineral resources. For the exploration and exploitation of non-oil and gas mineral resources by foreign businessmen to the western region by sole proprietorship or joint venture or cooperation with the Chinese, in addition to enjoying the preferential policies already implemented by the country, they may also enjoy the exemption from the use of exploration and mining rights for one year or less. Half of the payment of mineral exploration rights and mining use fees for two years; For foreign businessmen engaged in the “Foreign Investment Industry Guidance Catalog†in the category of non-oil and gas mineral resources, enjoy the exemption from payment of mineral resources compensation policy for five years.
8. Establish a national development zone. The western provinces, autonomous regions, and municipalities are allowed to select a completed development zone in their provincial capital or capital city and the seat of the BINGTUAN to bid for a national-level economic and technological development zone.
9, to facilitate the entry and exit of foreign personnel. Foreign-invested enterprises with a large amount of investment in the western region, foreign foreign investors and senior management talents and technical personnel of the enterprise may be granted entry and exit convenience.
10. Improve the investment soft environment. Relax the market access of multiple ownership enterprises, simplify the approval procedures for domestic investment projects, and simplify the approval procedures for foreign investment projects accordingly.
He said in his speech that the current implementation of western development focuses on water conservancy construction, transportation construction, energy construction, communications and municipal construction, ecological construction, environmental protection, agricultural development, industrial development, service industry development, science and technology education, and social development. 10 aspects. In order to encourage foreign investment to enter the western region, the relevant departments of the State Council have formulated a series of preferential measures:
1. Expand the field of encouraging foreign investment. Foreign-invested projects in advantageous industries in the western region may enjoy preferential policies for foreign investment- encouraged industries.
2. Tax incentives are granted to foreign-invested enterprises. Foreign-invested enterprises in encouraged industries in the western regions shall be subject to a corporate income tax rate of 15%; foreign-invested enterprises in ethnic autonomous areas may be exempted or reduced from local income taxes with the approval of the provincial government. In the Western Region where foreign businessmen establish new transportation, power, water conservancy and other enterprises, the enterprise income tax shall be “two exemptions and three reductionsâ€; foreign investment in energy companies, high-tech enterprises, export-oriented enterprises, software and integrated circuit companies shall be implemented. Corresponding tax incentives; foreign-invested projects for state-encouraged industries that import advanced equipment for their own use are exempt from customs duties and import value-added tax.
3. Expand service trade opening to the outside world. The pilots of foreign investment in banks, commercial retail enterprises, and foreign trade enterprises will be extended to municipalities directly under the Central Government, provincial capitals, and capital cities in the autonomous region. Foreign banks in the western region will be allowed to gradually conduct RMB business; foreign investors are allowed to invest in telecommunications, insurance, and tourism in the western region. Set up Chinese-foreign joint venture accounting firms, law firms, engineering design companies, railway and road freight companies, municipal public enterprises, etc.; allow foreign investors to invest in the construction and operation of urban natural gas pipeline networks.
4. Broaden foreign investment channels. In the western region, we will expand the pilot program for attracting foreign investment in BOT mode and launch pilot programs to attract foreign investment in T0T mode. Enterprises that are encouraged and permitted by the state may transfer operating rights, transfer equity, mergers and acquisitions, Sino-foreign joint venture funds, and risks. Investment funds, etc., absorb foreign investment.
5. To relax the conditions for using foreign capital. Foreign investment in infrastructure and advantageous industrial projects in the western region, appropriately liberalizing the ratio limit of foreign investment; foreign parties can control the West-East Gas Pipeline project; foreign investment in infrastructure and advantageous industrial projects in the western region can be appropriately relaxed by domestic banks The proportion of fixed assets investment in RMB; for projects of state-promoted industries, domestic banks may provide fixed-asset investment in RMB loans without being subject to a proportional limit; foreign-invested projects are allowed to carry out project financing including RMB.
6. Encourage reinvestment of foreign-invested enterprises in China. For foreign investment projects in the western region, where the proportion of foreign investment exceeds 25%, foreign-invested enterprises can enjoy the corresponding treatment; foreign-funded enterprises in the coastal areas are allowed to go to the west for contracted operations to manage foreign-invested enterprises and domestic-funded enterprises.
7. Encourage foreign investment in the development of non-oil and gas mineral resources. For the exploration and exploitation of non-oil and gas mineral resources by foreign businessmen to the western region by sole proprietorship or joint venture or cooperation with the Chinese, in addition to enjoying the preferential policies already implemented by the country, they may also enjoy the exemption from the use of exploration and mining rights for one year or less. Half of the payment of mineral exploration rights and mining use fees for two years; For foreign businessmen engaged in the “Foreign Investment Industry Guidance Catalog†in the category of non-oil and gas mineral resources, enjoy the exemption from payment of mineral resources compensation policy for five years.
8. Establish a national development zone. The western provinces, autonomous regions, and municipalities are allowed to select a completed development zone in their provincial capital or capital city and the seat of the BINGTUAN to bid for a national-level economic and technological development zone.
9, to facilitate the entry and exit of foreign personnel. Foreign-invested enterprises with a large amount of investment in the western region, foreign foreign investors and senior management talents and technical personnel of the enterprise may be granted entry and exit convenience.
10. Improve the investment soft environment. Relax the market access of multiple ownership enterprises, simplify the approval procedures for domestic investment projects, and simplify the approval procedures for foreign investment projects accordingly.
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