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Taizhou unveils guideline to bolster headquarter economy

chinadaily.com.cn | Updated: 2020-08-31

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Taizhou recently unveiled a guideline to promote the development of its headquarters economy.

It aims to develop itself into an influential hub for private corporate headquarters in the Yangtze River Delta, a region encompassing the provinces of Jiangsu, Zhejiang, and Anhui, as well as Shanghai municipality.

According to the guideline, the Taizhou government hopes that city will be home to at least 300 corporate headquarters by 2025. 

In addition, the threshold for enterprises to be considered "headquarters" will be lowered. Unlike other provinces and cities, the designation will be determined based on factors such as net capital and business revenue, but will not be related to factors such as registered capital and tax.

The minimum annual net capital and business revenue for a company to be considered "headquarters" in Taizhou will only be half of the provincial standard.

Meanwhile, greater incentives will also be put in place to encourage more enterprises to set up headquarters in the city. The incentives will include rewards based on a company's comprehensive contribution to the local economy, similar to systems in more advanced cities. 

The guidelines do not apply to the real estate industry and will be effective until Dec 31, 2025.