Foreign-invested enterprises registered in Shenzhen will be given varying amounts as an incentive according to the actual amount of investment in 2020, according to the draft rules of rewarding newly set up foreign-invested companies or those that increase capital.
Released by the Shenzhen Municipal Commerce Bureau, the draft rules aim to promote high-quality economic development by utilizing foreign capital.
According to the rules, incentives will be given to foreign-funded projects with actual amounts of foreign capital having been put into place in 2020 by existing or new foreign investors.
Enterprises with annual actual use of foreign capital of US$5-10 million, US$10-20 million and US$20 million and above, will be awarded 1 million yuan (US$147,400), 2 million yuan and 2.5 million yuan, respectively.
The maximum amount of rewards for a foreign-invested enterprise shall not exceed 2.5 million yuan in one year, according to the rules.