Recently, Guangdong has issued ten measures to boost foreign investment. "The policy focuses on key issues like market access, land use, talent support, which are focal points for foreign enterprises," said Zheng Jianrong, Director-General of Department of Commerce of Guangdong Province.
Foreign investment has made great contribution to Guangdong. In the first nine months of 2017, the province's FDI reached $16.96 billion, up 13.6% on a year-on-year basis.
It is said that the new measures will further the province's opening-up, create a favorable business environment for foreign investment, especially for Fortune 500 companies, enterprises looking to situate their HQ in the province, and leading enterprises in the field of innovation.
Now, areas open to foreign investment have also been expanded. For instance, restrictions have been eased on the portion of foreign equity allowed on special vehicles and new energy vehicles; investment in the operation of business place of Internet online service and contact centers is also now permitted.
In terms of land use, foreign-invested manufacturing enterprises can enjoy preferential policies under related documents. The lands for manufacturing projects with an actual foreign investment of over 1 billion yuan will follow the land-use planning indicators issued by local government.
In addition, with healthy subsidies available, the reforms encourage foreign investors, and R&D institutions to undertake science and technology projects. Accredited foreign R&D institutions can get a maximum subsidy of 10 million RMB.
It also offers strong talent support for top overseas talents in foreign-invested enterprises, such as senior management personnel and researchers. To implement the "Guangdong Superior Talent Card" policy, the card holders and their spouses and any minors are regarded as a registered permanent resident of the city, and enjoy the same policies in housing, education, medical treatment and elderly care.
The intellectual property of foreign-invested enterprises will also be protected, according to the circular.
It is said that the ten measures took credit for attracting large foreign enterprises like Siemens and Exxon Mobil Corporation in preliminary research.
According to Zheng, policy briefing will be conducted for consulate generals in Guangzhou and foreign chambers of commerce in the province. The English version of the new measures can be found on the website of the Department of Commerce for Guangdong Province as follows: http://www.gdcom.gov.cn/en/Policies/201712/t20171204_127844.html.
