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REGULATIONS OF QINGHAI PROVINCIAL PEOPLE'S GOVERNMENT ON ENCOURAGEMENT OF FOREIGN INVESTMENT
Foreign-funded enterprises refer to Chinese-foreign equity joint ventures,Chinese-foreign contractual joint ventures,wholly foreign-owned enterprises and other forms of foreign-funded enterprises permitted by the state. The present regulation shall be applicable to enterprises invested in the province by investors from Hong Kong,Macao,Taiwan or overseas Chinese. Article2.Foreign-funded enterprises established in the province may enjoy the preferential measures formulated by the state and preferential measures formulated in the regulation simultaneously. Article3.Foreign Investors may take any forms of investment within the province. Article4.Foreign investors may invest in any fields and industries except those prohibited by the state by explicit orders.Foreign investors are encouraged to invest in the following fields. a.Infrastructure b.Ecological and environmental protection and construction c.Industries and resources with natural advantages in Qinghai(Salt lake, hydropower, petroleum and natural gas ,non-ferrous metals, metallurgy,Chinese and Tibetan medicines,construction material industries,processing of agricultural and animal husbandry products ),new and high-tech industries. d.Science and education e.Trade and tourism Article 5.Foreign-funded enterprises established in the province are permitted to have 3 years of trial operation. Article 6. Foreign-funded enterprises engaged in fields or industries listed in Article 4 shall be exempted from urban house property tax, license tax for using vehicles and ships, education surtax and urban construction maintenance tax for a period of 10 years. Article 7. Foreign-funded enterprises engaged in fields or industries listed in Article 4 shall be exempted from local tax for a period of 11 years. Article 8. Foreign-funded enterprises engaged in agriculture and animal husbandry, starting from the first year of profit-making shall be exempted from agriculture tax, animal husbandry tax agriculture speciality tax for a period of 5 years and forign-funded enterprises engaged in the construction of urban low-cost residences or restoration of old cities shall be exempted from Deed tax for a period of 5 years. Article 9. Foreign investors may remit abroad their share of profit gained from their enterprises in line with the law; the remitted amount shall be exempted from income tax. Article 10. Losses incurred in a tax year by foreign-funded enterprises may be set against income of the following tax year. Should the income of the following tax year be insufficient the provision may be used over a period of exceeding 5 years. Article 11. Foreign investors who launch enterprises may enjoy the following preferential policies in site use fee of the local governments' share: a. If chinese-foreign equity joint ventures and Chinses-foreign cooperative ventures utilize state own land, their site right assignment fee shall be reduced by 50%. b. Foreign-funded enterprises utlizing state own land, engaged in social puplic welfare or comprehensive exploitation of agrculture and animal husbandry, shall be exempted from site right assignment fee, site lease and site use fee. c. Foreign-funded enterprises that are utilizing state owned degraded mountains and degraded slopes shall be exempted from site right assignment fee,site lease fee and site use fee. d. Wholly Foreign-owned enterprises that are utilizing collective owned degraded mountains and degraded slopes,with the exception of payment of the land compensation fee and settlement allowance,shall be exempted from site use fee. Article 12.Foreign investors applying for prospecting and mining rights on sites that have already been prospected and proved by the state,within the authorization for approval and registration of Qinghai Province,may enjoy the following preferential policies in prospecting charge,mining charge and mineral resources compensation fee: a.Prospecting charge shall be exempted during the reconnaissance survey stage; 70 percent of the prospecting charge shall be deducted at the stage of detailed survey;60 percent of the prospecting charge shall be deducted at the state of taking. b.50 percent of the mining royalty shall be deducted. c.90 percent of the mineral resouces compensation fee shall be deducted. Article 13.Foreign-funded enterprises engaged in urban infrastructure construction shall be exempted from urban infrastructure conveyance fee. Article 14.If foreign-funded enterprises that have fully paid their registered capital as set in the contract may apply for loans from banks,banks should reply within 10 working days,and the interest rate shall be set in accordance with the relevant regulations of the People's Bank of China. Article 15.Unless otherwise stipulated by explicit laws or regulations,foreign-funded enterprises shall the right in determining whether or not to join social organizations,refusing unreasonable charges or fees and other activities that infringe foreign-funded enterprises'legal rights. Article 16. Government organizations should open their examination and approval rocedures and time limits to the public.All approving procedures shall be completed within 3 working days,and for major projects within 5 working days,subject to the receipt of all documents required for the establishment of foreign-funded enterprises by foreign investors. Article 17. The right to interpret these regulations resides in Qinghai Department of Foreign Trade and Economic Cooperation. Article 18. The regulation shall come into effect on the date of promulgation.The former "Regulations of the People's Government of Qinghai Province on Encouragement of Foreign Investment" is abolished at the same time.
THE PROPOSED REWARD MEASURES OF QINGHAI PROVINCE FOR THE ENCOURAGEMENT OF INTRODUCTION OF FUNDS FROM ABROAD
Article 2.The encouragement limits of the present measures:domestic citizens(leading cadres whose present posts are higher than county magistrate,division chief working in Party and government offices and full-time cadres who are engaged in foreign investment introduction are excluded),overseas Chinese,compatriots in Hong Kong,Macao and Taiwan,personnel outside China and foreign organizations(hereinafter referred to as "intermediaries"). Article 3. Intermediaries who have introduced funds from abroad to be invested in the province,may draw 1.5 per cent for encouragement in respect of the actual capital amount received by the benefited enterprises after confirmation done by the local foreign investment administration authorities jointly with other organizations concerned.After examination and verification by the local government and foreign investment administration authorities and by the capital checking report,the local financial administration pays 0.5 per cent money award to the intermediaries within one month from the starting of the project operation in advance,the rest 1 per cent is paid after the enterprises or projects have turned over fiscal levy. Article 4. Qinghai Provincial People's Government will award honorary certificates to the intermediaries who have introduced capital of 5 million US dollars and over.Qinghai Department of Foreign Trade and Economic Cooperation will award honorary certificates to the intermediaries who have introduced capital less than 5 million US dollars. Article 5. These measures shall come into effect on the date of promulgation.All the relevant regulations promulgated before which do not tally with the present measures should follow the present measures. Article 6. Qinghai Department of Foreign Trade and Economic Cooperation is given the interpretation right of the present measures. Adantageous Industry Catalogue for Foreign Investment of Qinghai Province,P.R.C The Advantageous Industry catalogue for Foreign Investment of Qinghai Province is approved for implementation by the State Economic and Trade Commission, the State Development Planning Commission, and the Ministry of Foreign Trade and Economic Cooperation.Foreign Investors who invest in the catalogue may enjoy the preferential merasures formulated by the state and the preferential measures formulated in the Regulations of Qinghai Provincial People's Government on Encouragement of Foreign Investment. 1. The storage, preservation and processing of grains, vegetables, fruits, domestic animals and poultry products and aquatic products. 2.Planting of forest trees and introduction of fine tree varieties. 3.Rational development,utilization and conservancy projects of water resources. 4.Construction and operation of highways,independent bridges and tunnels 5.Mining,smelting,processing of copper,aluminium and zinc (wholly foreign-owned enterprises are not permitted.) 6.Development and processing of potassium resources. 7.Comprehensive utilization and processing of salt-lake resources. 8.Manufacture of new-type building materials. 9.Cultivation and processing of traditional Chinese medicine and Tibetan medicine. 10.Development and operation of tourist resort and necessary facilities thereof. |
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| 青海省发展计划委员会主办 青海省发展计划委员会信息中心承办 E_mail： webmaster@qhei.gov.cn lsd@qhei.gov.cn Feedback TEl：(0971)-6305998,6305126 |