Southwest China’s Guizhou province recently launched four policies to support foreign investment in the province and boost high-quality development. All the policies have been put in effect immediately.
The policies that involve attracting major foreign-funded projects, which refers to projects and headquarters, will receive financial subsidies according to their contribution to the provincial economy.
To reinforce international economic competitiveness, Guizhou encourages current industrial parks to apply for provincial international cooperation parks status, which can realize capacity division, cooperation, and high-end projects gathering in the area.
According to the policy, the qualified parks will receive funds for planning, infrastructure construction, loans, entrusted investment, overseas promotion, and other uses.
Foreign invested companies can apply for regional headquarters of transnational corporations or functional institution status according to their registered capital, total assets or scale.
Qualified companies can enjoy a series of preferential policies for entry and exit procedures, as well as residence permits and work permits for employees and their families.
Headquarters or institutions will also receive finicial supports according to their tax contribution and business income.
The last policy aims to create a fair, transparent, and convenient investment environment, as well as protect the legitimate rights of foreign-funded companies.
Guizhou Provincial Commerce Department will assign complaints from foreign-funded companies to related provincial and municipal departments.
The problems involved in the complaints that are clearly stipulated in laws and policies should be handled in five working days. General complaints should be handled in 10 working days, and complaints concerning major problems should be handled in 20 working days.
For foreign-funded companies that have any objections to the results from their complaints, they can make a request for reconsideration within five working days and Guizhou Provincial Commerce Department should respond in 20 working days.
