Updated: Sep 26, 2018 chinadaily.com.cn Print
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In order to support investment from enterprises and individuals, the Guizhou provincial government introduced a series of policies concerning various industries. These policies can be divided into comprehensive policies and industrial policies.

Comprehensive policies

1. Supply-side structural reform policy

Apply preferential tax policies including deed tax, individual income tax, corporate income tax, land value increment tax, building tax, and urban construction tax; stop collecting price regulating funds and merge seven governmental funds; extend eligibility for various tax exemptions including education surcharge, local education surcharge, water conservancy construction fund, cultural work construction fee and disabled employment security fund for small and micro businesses; extend eligibility for 18 tax exemptions for administrative fees.

2. Inland opening and ecological civilization

Strengthen financial support for the construction of ecological civilization, optimize and integrate capital channels, innovate methods for governmental investments, improve the efficiency of fund usage; use national science and technology programs to support scientific and technological innovations in ecological civilization with conditions, promote breakthroughs and application of core technologies in key areas; introduce talents in the area of ecological civilization; introduce ecological civilization-related majors in colleges and universities; build technological supporting systems for the integration of green science and technology innovation in production, training and research, as well as the industrialization of scientific and technological innovation achievements; establish major project libraries for the construction of ecological civilization, release major project packages for the construction of ecological civilization, promote the implementation of construction projects in the test site.

3. Land utilization

Provide preferential support to dominant resource integrations, companies and projects concerning the annual land utilization plan, speed up land supply; provide preferential land utilization arrangements for integrated projects in hilly areas.

4. Tax support

Deduct taxes for venture capital firms on the condition that they invest stock rights in unlisted small and medium-sized high-tech companies for at least 2 years. 70 percent of the investment can be deducted as income tax, insufficient part can be deducted in the following tax years.

Exempt 15 percent of corporate income tax for new high-tech enterprises; apart from the actual deduction of research and development expenses based on rules, deduct 150 percent when the expenses are counted as intangible assets, otherwise 50 percent.

5. Financial support

For all eligible organizations and individuals, award 2 per thousand of the actual fixed investments in primary and tertiary industry; award 3 per thousand of the actual fixed investment in secondary industry; award each investment project with a maximum of 5 million yuan ($ 781,250).

Award organizations or individuals who introduce Guizhou province to leading companies -- 300,000 yuan for the top 500 companies in the world, 150,000 yuan for the top 500 companies in China, and 50,000 yuan for the top 500 private enterprises in China.

6. Fund support

Set a 120-billion-yuan poverty supporting sub fund with the duration of 10 + N years, facing corporate enterprises operating no less than the fund duration. These corporate enterprises should be registered and pay tax in Guizhou province and should engage in industries such as forestry, processing, tourism, etc., which will help with local economic development.

7. Talent introduction

Rely on cooperation between universities and scientific research institutions, train professional technical talents; introduce high-level talents via key industries and major scientific research projects; reward eligible talents with financial subsidies and policy support.

8. Services for project investments

Establish investment project agency service centers in investment promotion agencies and economic development zone management committees. Investors can enlist service centers to handle administrative procedures and public service matters.

Industrial policies

Guizhou province provides various forms of financial support, subsidies, tax deductions and exemptions, and preferential land use policies for the following 19 industries:

Big data, health and medicine, mountain tourism, modern characteristic and efficiency mountain agriculture, forestry, deep processing of raw materials, green light, renewable resources, clean energy, new energy automobiles, new building materials, ethnic culture, energy saving and environmental protection service, energy saving and environmental protecting equipment manufacturing, stone, natural drinking water, wine, tea, military and civilian integration.

[This English version is only for reference. To learn more, please refer to the authoritative Chinese version.]

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