Excerpts: The government encourages the attraction of high value foreign investment projects funded by industry leaders. Each of the successfully introduced projects that complies with the industrial policies of the state and features no less than 500 million USD investment should render the locality (county, city or district) entitled to a subsidy of 200 thousand RMB to the expenses on business attracting activities. 

Measures should be taken to encourage the introduction of Fortune 500 and Taiwan’s Top 100 enterprises to Quanzhou. Each of the successfully introduced projects from the abovementioned enterprises that complies with the industrial policies of the state and features no less than 10 million USD of contractual foreign investment should render the locality (county, city or district) entitled to a subsidy of 100 thousand RMB to the expenses on business attracting activities.   

In the event that the paid-in capital by foreign investors in a foreign-funded enterprise reaches or exceeds 5 million USD in a year, the enterprise should receive an award equivalent to 1% of the abovementioned paid-in capital, converted to RMB. The municipal financial authorities should sustain 20% of the award and the county financial authorities 80%. Any award for this purpose from a higher level government should be distributed to the municipal and county financial authorities at the same ratio.     

The enterprises are encouraged to reinvest with the undistributed profit. An enterprise that invests with capital surplus or undistributed after-tax profit to replenish its own capital or establish another foreign-funded enterprise within the jurisdiction of Quanzhou Municipality shoud be rewarded by the locality (county, city or district) with 50% of the locally retained portion of the withholding income tax pertaining to the abovementioned investment, up to 5 million RMB each project. 

The newly established foreign-funded enterprises in strategic emerging sectors and the pivotal foreign-funded industrial enterprises verified by the municipal government, with more than 100 million USD total investment or more than 30 million USD contract amount each enterprise, should receive awards based on the locally retained portion of their payment of value added tax and corporate income tax. Calculated from the first taxable year, the abovementioned enterprises should each receive awards equivalent to 100% of the locally retained portion for the first two years and 50% of the locally retained portion for the following three years, with a yearly cap of 5 million RMB for each enterprise. The foreign-funded enterprises under the same category and launched not later than December 31, 2016 should each receive awards equivalent to 100% of the incremental local taxation contribution for the first two years and 50% of the incremental local taxation contribution for the following three years, with a yearly cap of 5 million RMB for each enterprise, from 2017. The abovementioned awards should be sustained by the county (city or district) financial authorities of each recipient’s locality. If the amounts thus sustained involve certain percentages collected by the municipality, the county (city or district) concerned should be fully refunded. 

The government advocates business attraction through commission, agency and other businesses. The persons successfully introducing projects should be rewarded. Those having signed an agreement on business attraction cooperation with Quanzhou Municipal Bureau of Commerce and successfully introduced a foreign investment project with more than 100 million USD total investment or more than 30 million USD contract amount should receive an award equivalent to 1‰ of the paid-in capital by foreign investors within one year upon the registration of the project, up to 1 million RMB. For the business associations, social organizations or individuals that have not signed an agreement on business attraction cooperation with Quanzhou Municipal Bureau of Commerce, the successful introduction of a foreign investment project that conforms to the municipality’s industrial planning and development priorities and features more than 100 million USD total investment or more than 30 million USD contract amount should render the introducer eligible for an award equivalent to 1‰ of the paid-in capital by foreign investors within one year upon the registration of the project, up to 500 thousand RMB.

The municipal financial authorities should reward the counties (cities or districts) distinguished in the performance of foreign investment attraction, in the form of grants to their expenses on business attracting activities. The counties (cities or districts) that enable growth in the contractual amount of foreign investment through the year should receive awards ranging from 150 thousand to 200 thousand RMB. The counties (cities or districts) that fulfil their respective tasks of foreign investment utilization through the year as assigned by the municipality should receive awards ranging from 200 thousand to 250 thousand RMB. In the event that the total amount of foreign investment contracts of a county (city or district) being signed at significant events organized by the province or the municipality through the year reaches the ranks of top three across the municipality, the county (city or district) concerned should each receive bonuses ranging from 50 thousand to 100 thousand RMB. In the event that the implemented amount of foreign investment contracts of a county (city or district) being signed at significant events organized by the province or the municipality through the previous year reaches the ranks of top three across the municipality, the county (city or district) concerned should each receive bonuses ranging from 50 thousand to 100 thousand RMB.