The people's government of Dahua Yao autonomous county in Hechi released a series of supportive policies on Dec 26, 2018, in a bid to attract domestic and foreign businessmen to invest in the county in the form of capital, advanced technology and modern management.

Fiscal and tax supporting policies

1. Enterprises involved in industries that are encouraged to develop in the Catalog of Encouraged Industries in the Western Region can be given a grant for five years starting from the first profit-making year.

In the first three years, enterprises, of which the total amount of added-value and enterprise income taxes ranges between 2 million yuan ($285,400) to 5 million yuan, can receive a grant equal to 60 percent of the county's retained portion of their paid taxes. For enterprises, of which the total amount of added-value and enterprise income taxes ranges between 5 million yuan to 10 million yuan, a grant equal to 50 percent of the county's retained portion of their paid taxes will be awarded. For those whose paid added-value and enterprise income taxes exceed 10 million yuan, a grant of 40 percent of the county's retained portion of their paid taxes will be rewarded.

In the last two years, qualified enterprises can receive a grant that halves the aforementioned standards.

2. Enterprises, which were registered in Dahua and recognized as headquarters economy, can get a one-off grant of 200,000 yuan.

Besides, a grant of 100 percent of the county's retained portion of enterprises' paid added-value and income taxes will be given to headquarters enterprises for three years after the first profit-making year, and 50 percent in the fourth and fifth years.

3. Innovative enterprises involved in hi-tech and strategic emerging industries can receive a one-time grant of 10 percent of their actual paid-in investment, with a maximum of 500,000 yuan.

4. For processing trade or electronics technology enterprises, which lease standard workshops as their workplace, an annual subsidy of 30 percent of their rent money will be provided by the Dahua government for no more than two years.

5. Enterprises that are recognized as a China Famous Trademark or a China Famous Brand Product will be given a one-time reward of 200,000 yuan, while those that are rated as the autonomous region's famous trademarks or famous brand products and have an annual output value of more than 20 million yuan, can receive an award of 50,000 yuan.

Support policies in logistics

1. Productive enterprises in 10 strategic emerging industries will be subsidized for the transport of products for two years.

The 10 strategic emerging industries are energy conservation and environment protection, advanced equipment manufacturing, new materials, new energy, biological medicine, health services, ocean, new energy vehicles, new generation of information technology, and biological agriculture.

The total transport subsidy for an enterprise shall not exceed 2 million yuan, and requires relevant invoices by Dahua's tax bureau.

2. Large or medium-sized modern logistics enterprises, which take on industrial projects that are encouraged to develop in the Catalog of Encouraged Industries in the Western Region as their main business, and whose main business income accounts for more than 70 percent of total income, can be given a grant equal to 30 percent of the county's retained portion of their paid taxes.

Financing policies

1. Industrial enterprises above the designated scale, which paid over 300,000 yuan in local taxes in the previous year, will be offered an interest subsidy at a rate of two percentage points based on the benchmark interest rate and enterprises' loans from the People's Bank of China. The maximum subsidy shall not exceed 1.5 million yuan.

2. For leading enterprises involved in the five emerging industries and labor-intensive industries (excluded enterprises with a scale of over 20 million yuan), a monthly interest subsidy of 0.15 percent of their loan amounts will be offered, while a monthly interest subsidy of 0.1 percent of their loan amounts will be provided for growing businesses.

Supportive policies for transformation and upgrading

1. Industrial enterprises above the designated scale, which paid over 300,000 yuan in local taxes in the previous year, and have new investment in fixed assets of more than 5 million yuan for technical innovation, can be given a subsidy of 5 percent of their investment amount. The maximum subsidy shall not exceed 3 million yuan.

2. Industrial enterprises above the designated scale, whose projects win Guangxi's second class prize for scientific and technological advancement or above, can get a one-time award of 200,000 yuan.

3. Enterprises that establish new factory buildings, which cover more than 5,000 square meters, can receive a subsidy of 30 yuan for each square meter.

4. Research and development centers, key laboratories, engineering laboratories, postdoctoral research stations, industrial incubators, and service platforms for innovation and entrepreneurship, which are rated as national or autonomous region level, can receive an award of 500,000 yuan or 200,000 yuan respectively.

This English version is only for reference. To learn more, please refer to the authoritative Chinese version on the official website of the Hechi investment promotion bureau.