Pingnan's new policy attracts foreign investment

( chinadaily.com.cn )

Updated: 2014-11-21

Pingnan county, Fujian province, promulgated a new investment policy on Nov 10, which aimed to attract foreign investment and promote trade exports.

Programs with a foreign investment of over 2 million dollars will get a governmental bonus of 20,000 yuan ($3,270), and programs with a foreign investment of 6 million dollars will get a bounty of 50,000 yuan ($ 8,170).

Foreign investment programs will get a favorable price for industrial estate, with a maximum of 30 percent off. Foreign-funded enterprises will be exempted from extra land-transfer fees, if they reconstruct the old workshops and retain the workshops' old functions. Pingnan-based export enterprises will get a registering subsidy of half from the government. Enterprises honored as "Fujian provincial famous export brands" will get a bonus of 50,000 yuan ($8,170).

Fujian Shunxin Company got a beneficial price for its industrial estate of 18.8 mu (1.25 hectare), which saved the enterprise 710,000 yuan ($116,000). The new policy also brought Pingnan Jinfeng Food Company an investment bonus of 260,000 yuan ($42,500).