Investment in Taizhou
chinadaily.com.cn | Updated: 2018-11-21Print Print
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Thanks to a prosperous commercial and trading market, a favorable investment environment, continuously improving transportation infrastructure and efficient services provided by the government, Taizhou has become a hotspot for investors at home and abroad wishing to invest in the Yangtze River Delta region. A solid industrial foundation, rich land resources and competitive operation costs make it a popular spot with plenty of advantages.
I. Popular destination for foreign investment
Taizhou has used foreign capital in expanding areas based on unique resource advantages and active market mechanisms. Foreign investment expanded from the ordinary manufacturing sector to the sectors of comprehensive agricultural development, environmental protection, high-tech, commerce and trade facilities, intelligent manufacturing and infrastructure. Competitive industries have continuously shifted from labor intensive to capital and technology intensive ones.
II. Foreign investment in Taizhou has been very active
By the end of 2017, there were 47 new foreign investment projects approved in Taizhou, a total investment of $1.595 billion. The total contracted foreign investment was $778 million. The actual use of foreign investment reached $ 443 million.
III. Various preferential policies for investment favorable to industrial structure upgrading and the development of industrial clusters
Taizhou encourages foreign investment in the high-tech, advanced manufacturing, energy conservation and environmental protection, R&D, modern agriculture and modern service industry sectors. For foreign investment projects in the above-mentioned sectors, Taizhou has developed and implemented various preferential policies to attract foreign investments. In addition, rewards for projects invested in by World Top 500 companies will be significantly increased accordingly.
Taizhou is at the forefront of attracting domestic and foreign entrepreneurship and innovation talents. In terms of the leading teams in the areas of entrepreneurship and innovation introduced to Taizhou, Taizhou will provide 10 million ($ 1.44 million), eight million or five million yuan in funding to teams at three different levels, international advanced, leading domestic and advanced domestic, based on an assessment. A maximum of 100 million yuan in funding will be awarded to mega projects consisting of world-class teams and top talents.
Taizhou has built an entrepreneurship service center for high-level talents, providing project capital support, living allowances and housing subsidies for high-level innovative talents in various sectors. Award money is exempt from personal income tax if it is given through the Zhejiang provincial science and technology award. Advanced professional titles and qualifications can be conferred directly to overseas talents who meet the requirements. Translated professional scientific and technological outcomes in scientific research organizations and higher education institutes can be awarded to individuals in the form of shares or according to the percentage of capital contribution. The award winners can be exempted from individual personal income temporarily before they get shares or dividends from their capital contribution.