Pingyao's preferential policies for investments

Updated:2013-05-21 17:21
( chinadaily.com.cn)

Chapter 1 General principles

Article 1

This policy follows State, provincial, and municipality laws and policies in relation to county circumstances to more fully follow the scientific development concept, make optimal use of the investment environment, continue the opening-up policy, provide better services and protection for investors, attract more capital, technology, human resources, and modern management, and to speed up economic transformation for a leap in development in Pingyao county.

Article 2

It applies to investors outside the county administrative area and includes individuals, legal persons, and other organizations and social communities wanting to invest in Pingyao.

Chapter 2 Market access and industrial orientation

Article 1

Investors generally have access to all industries and sectors, with the exception of those restricted by State policies, laws, or regulations.

Article 2

In view of the fact that Pingyao is a World Cultural Heritage site, investors are encouraged to consider projects that follow State policies and Pingyao’s economic and social development plans that refer specifically to upgrades and transformation of industries, such as high-tech, equipment manufacturing, renewable energy, new materials, pharmaceutical, tourism, agriculture, agricultural product processing, infrastructure, and modern logistic, as well as science, education, culture, health, and sports.

Chapter 3 Preferential policies concerning land

Article 1

Land use for investment projects will be given priority, where investment in the project is no less than three million yuan ($488,400) per hectare and the construction period does not exceed three years.

Article 2

In the case of non-resource-dependent or modern logistics enterprises, investors will be allowed to get a mortgage and control the land within the terms of the agreement, but will not be allowed to transfer, lease, or exchange it, or change the land-use agreement without government approval. Land for projects is supported in the following ways:

a. The county government will allocate funds equal to 50 percent of the county land-transfer fee for projects with fixed investment of 100-200 million yuan ($16.3 - 32.6 million), and where imported capital accounts for more than 50 percent.

b. The county government will allocate funds equal to 70 percent of the county land-transfer fee for projects with fixed asset investment of 200-300 million yuan ($32.6 - 48.9 million) and where imported capital accounts for more than 50 percent.

c. The county government will allocate funds equal to 100 percent of the county land-transfer fee for projects with a fixed asset investment of 300-500 million yuan ($48.9 - 81.4 million); and where imported capital accounts for more than 50 percent.

d. Land-transfer fee is negotiable for projects with fixed asset investment above 500 million yuan ($81.4 million) or which are backed by one of the global Top 500 enterprises or China’s Top 500 or a leading enterprise in any industry.

Article 3

Any investor that establishes a non-production enterprise, e.g. in the commercial, financial, service, or entertainment sector, will be allowed to mortgage or control the land within the terms of the land use agreement but will not be allowed to transfer, lease, or exchange it or change the land-use agreement without the government approval. Land for projects gets the following support:

a. The county government will allocate funds equal to 10 percent of the county land-transfer fee for projects with imported capital of 20-50 million yuan.

b. The county government will allocate funds equal to 20 percent of the county land-transfer fee for projects with imported capital of 50-100 million yuan.

c. The county government will allocate funds equal to 30 percent of the county land-transfer fee for projects with imported capital above 100 million yuan.