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Investment attraction policy measures in Hunan Province

hnsy|Updated : Apr Wed 2023
The first is to support the headquarters economy. Encourage Fortune Global 500 companies, China’s top 500 companies, China’s top 500 private companies and industry-leading enterprises to set up enterprise (group) headquarters, China regional headquarters, regional headquarters, and functional headquarters for R&D, logistics, procurement, sales, settlement, finance, information processing, etc. in Hunan Province. 

Encourage multinational companies to set up investment companies in Hunan Province (the parent company’s total assets should be no less than 200 million US dollars in the previous year). 

For Fortune Global 500 companies that set up China regional headquarters in Hunan Province with a registered capital of more than 20 million yuan, the highest reward for their enterprises in Hunan reaches 10 million yuan; for those that set up enterprise (group) headquarters in Hunan Province, support will be given on a case-by-case basis.
For China’s top 500 companies and China’s top 500 private companies that set up enterprise (group) headquarters in Hunan Province with actual capital in place of more than 100 million yuan, the highest reward is 10 million yuan. 

For industry-leading enterprises that set up enterprise (group) headquarters in Hunan Province and Fortune Global 500 companies that set up regional headquarters in Hunan Province with a registered capital of over 20 million yuan, the highest reward amounts to 5 million yuan. 

For Fortune Global 500 companies, China’s top 500 companies, China’s top 500 private companies and industry-leading enterprises that set up functional headquarters in Hunan Province, the highest reward for their enterprises in Hunan is 3 million yuan.

Lower the requirements for the number of full-time research and experiment personnel of foreign-funded R&D centers applying for the tax policies for imported innovative technology. Foreign-invested enterprises which set up R&D centers in Hunan Province will be eligible to enjoy such tax policies after the qualification is approved by the provincial commerce department and authorities of finance, taxation, and customs.

The second is to support attracting large-scale investment. For foreign-funded projects (excluding real estate and financial projects) with actual capital in place (excluding foreign shareholder loans) exceeding 30 million US dollars and advanced manufacturing projects with actual capital in place exceeding 200 million yuan, rewards will be given based on 1 percent of then actual capital in place, with a maximum reward of 10 million yuan.

For projects of Fortune Global 500 companies and the top 50 companies in the global industry with new actual foreign capital in place exceeding 100 million US dollars, and advanced manufacturing projects of China’s top 500 companies, China’s top 500 private companies, and the top 10 enterprises in the domestic industry with new actual domestic capital in place exceeding 1 billion yuan, support will be given on a case-by-case basis. 

For local counties, county-level cities, districts, or parks which attract Fortune Global 500 companies, China’s top 500 companies and China’s top 500 private companies to settle in Hunan for the first time, each project will be awarded 3 million yuan, 2 million yuan, and 1 million yuan respectively.

The third is to encourage cluster relocation of enterprises. Industrial parks (including market-oriented sub-parks) that attract 5 or more enterprises to relocate to Hunan within 2 years, with a total investment amount of over 500 million yuan, and with capital in place reaching over 30 percent of the total investment amount or production rate reaching over 50 percent, shall be rewarded with a maximum reward not exceeding 5 million yuan.

Support will be given to production enterprises that lease the “135” standard factory buildings and a one-off subsidy will be provided based on the actual paid rent for production enterprises that lease standard factory buildings with an area of over 5,000 square meters and a lease term of more than 3 years. The “PBOS” model is promoted for further park development, investment attraction and service upgrading.

The fourth is to support the introduction of foreign trade entities. A one-off reward of 2 million yuan will be given to newly introduced foreign trade entities with an annual import and export performance of over 50 million US dollars and significant industrial driving capacity. Support will be provided in a “case-by-case” manner for newly introduced foreign trade entities with an annual import and export performance of over 500 million US dollars and significant industrial driving capacity. Incentives will be given to entities that lease standard factory buildings and introduce major investment attraction projects in Hunan.

The fifth is to encourage foreign direct investment. Strengthen the performance evaluation of the utilization of foreign direct investment by cities and counties, and provide rewards to cities and prefecture with actual utilization of foreign direct investment exceeding 10 million US dollars and counties, county-level cities and districts with actual utilization of foreign direct investment exceeding 1 million US dollars.

The sixth is to promote project implementation. Establish a coordination and promotion mechanism for provincial major investment attraction projects and key signed projects. Strengthen tracking and scheduling of project performance and capital in place, and provide rewards of 3 million yuan, 2 million yuan, 1 million yuan and 1 million yuan respectively to the top four ranked cities and prefecture in terms of annual performance.

The seventh is to ensure land use for major projects. Provide land support for advantageous and characteristic industrial projects that comply with the provincial industrial development plan.

For major investment projects with actual investment amount exceeding 200 million yuan (or 30 million US dollars for foreign investment) for setting up headquarters or self-built office properties by Fortune Global 500 companies, China’s top 500 companies, China’s top 500 private companies and industry-leading enterprises in Hunan, reasonable land demand should be met based on the plan for newly added construction land and index.

Preferential support shall be given for priority industries that are intensive in land use when determining the reserve price for land transfer.

The eighth is to increase the development and reserve capacity of projects. Include the development of investment attraction projects in the evaluation scope of the province’s open economy work. Establish a provincial database of major investment attraction projects to achieve dynamic development and management. Encourage market-oriented operation mode for project development, packaging and promotion. Provide rewards to project developers based on project signing and landing conditions.

The ninth is to encourage innovative investment attraction methods. Focus on 20 emerging advantageous industrial chains and the block chain industrial ecosystem in specific areas, and carry out precision investment attraction. Encourage online investment attraction, and promote the joint establishment of an investment attraction cloud platform by provincial, municipal, and county-level governments.

Introduce third-party organizations to provide investment attraction consultation services for industrial chains, establish a target customer database, draw investment attraction route map, and prepare investment attraction analysis reports.

Encourage entrusted investment attraction, agency investment attraction, intermediary investment attraction and investment attraction through commercial means, and set up market-oriented professional investment attraction agencies at home and abroad.

The tenth is to optimize the investment environment. Protect the intellectual property rights of foreign-invested enterprises, handle enterprise complaints prudently, and safeguard the rights and interests of investors. Treat domestic and foreign-funded enterprises equally and support their equal participation in government procurement and market competition.

Introduce third-party organizations to conduct a comprehensive evaluation of the investment environment, and commend cities, prefecture, counties, county-level cities, districts and industrial parks that rank at the forefront in the evaluation. Encourage cities, prefecture, counties, county-level cities, districts and industrial parks to formulate innovative and feasible preferential policies for investment attraction based on the local resource advantages and industrial planning.

Except “case-by-case” matters, the funds for the reward clauses of these policy measures at the provincial level shall be included in the special fund for the development of open economy and circulation industries. If a single project meets multiple reward clauses at the same time, the rewards can be accumulated, with a cumulative reward amount not exceeding 20 million yuan (except “case-by-case” projects). The funds for rewards to cities, prefectures, counties, county-level cities, districts and industrial parks shall be earmarked for investment attraction work.
 
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