Zone rolls out incentives to attract foreign-trade projects
Shanxi Transformation and Comprehensive Reform Demonstration Zone in North China's Shanxi province recently rolled out a slew of incentives and subsidies to attract more foreign-trade oriented industrial projects to the zone, according to a circular enacted by the zone's management committee.
The zone consists of four national development zones, three provincial development zones and one university industrial park with a total planning area of 600 square kilometers in Shanxi province's Taiyuan and Jinzhong cites.
The circular involves several fields -- including the processing trade, general trade, trade in services, cross-border e-commerce companies, as well as platform rewards.
For businesses engaged in the processing trade and general trade which lease factories and warehouses in the Wusu Comprehensive Bonded Area in the demonstration zone, the zone will give a full subsidy of paid rent for the year the enterprises start operations.
That is if each of their annual foreign trade value exceeds $3 million from the day of operation, the circular said.
E-commerce enterprises that rent warehouses in the Wusu Comprehensive Bonded Area will be given full rent subsidies for the first year and those that carry out investments over 1 million yuan ($140,065) in intelligent transformation and upgrades in the bonded storage area will get subsidies accounting for 10 percent of the investment amount.
Cross-border e-commerce enterprises that complete 1,000 cross-border e-commerce orders on Shanxi provincial cross-border e-commerce platforms will each be granted a one-time subsidy of 50,000 yuan.
Third-party e-commerce trading platform companies that have annual turnover over 3 million yuan and that attract at least one e-commerce company to their e-commerce trading platforms every year will each get an incentive payment of 20,000 yuan.
In addition, the Shanxi Transformation and Comprehensive Reform Demonstration Zone will give subsidies amounting to 15 percent of the international express expenses, incurred by general export and bonded export trade, to companies that have settled in the zone.