Circular of Management Committee of Pingtan Comprehensive Pilot Zone on the Promulgation of Circular of Pingtan Comprehensive Pilot Zone on Further Perfection of the Favorable Policy of“5+2” Industry Awards and Subsidies

Lanzongguanzong [2017] No. 34
From:Management Committee of Pingtan Comprehensive Pilot Zone Date:2017-09-06【Font:large regular

Excerpts: The government advocates the development of industry clusters and the branding activities. Those certified as state, provincial and district exemplary areas (bases) of culture industry should receive nonrecurring bonuses of no more than 2 million, 1 million and 500 thousand RMB respectively.   

The travel agencies within the Pilot Zone whose customers from abroad or outside Fujian Province through the year are counted among top five should receive bonuses ranging from 100 thousand to 300 thousand RMB according to their ranking. The travel agencies entering the ranks of top 100 nationwide for the first time should be each awarded 1 million RMB. The tourism product manufacturers winning first, second and third place in state-level exhibitions and contests for the first time should receive nonrecurring bonuses of 100 thousand RMB, 50 thousand RMB and 30 thousand RMB respectively. The manufacturers of tourism products included in China Protected Geographical Indication Products should each receive a nonrecurring award of 100 thousand RMB. 

In the event that a cultural enterprise or its products and services receive awards or honors in international branding competitions, it should receive a nonrecurring bonus of 500 thousand RMB. In the event that a cultural enterprise or its products and services receive an award or honor in a national branding competition as bestowed by the Publicity Department of the CPC Central Committee, the Ministry of Culture or other ministerial authorities (not including the government-sponsored institutions or other industrial bodies affiliated with them) for the first time, it should receive a nonrecurring bonus of 200 thousand RMB. If such an enterprise receives more than one national honor, it should be awarded another 50 thousand RMB for each addition.    

A product innovation award should be established for the financial enterprises started in the Pilot Zone. The society at large is encouraged to develop policies or financial products conducive to the growth of the financial sector across the Taiwan Strait, Pingtan in particular. In consideration of the market performance of the innovative products, those making distinctive contribution to the socioeconomic development of the Pilot Zone should be honored and granted a nonrecurring award of 300 thousand RMB by the Management Committee of the Pilot Zone. The abovementioned products should meet at least two of the three critieria listed below, namely, securing more than 100 profitable customers, increasing the size of business by more than 50 million RMB (including lending, financing, insurance, guarantee and investment) or reducing customers’ costs by more than 10%.       

The enterprises within the Pilot Zone are encouraged to go listed at Haixia Equity Exchange and other regional equity exchanges. The enterprises succeeding in this should be each awarded 150 thousand RMB.

In order to further advocate the business growth, the enterprises registered in the Pilot Zone going listed at the New OTC Market should be each awarded 1.5 million RMB. Upon the stratification of the New OTC Market, those listed at the top layer should be each awarded another 500 thousand RMB, with the total amount standing at 2 million RMB.  

The enterprises registered in the Pilot Zone going domestically listed should be awarded 10 million RMB and those going overseas listed should be awarded 6 million RMB.

In the event that the annual average of the loan balance of a “5+2” industrial project certified by the relevant authorities of the Pilot Zone exceeds 20 million RMB and the interest payment has been effected, the said project should be entitled to a subsidy equivalent to 30% of the base lending rate over the same period, up to 1 million RMB. The abovementioned subsidy should stay effective for no more than 3 years. If the said project is subsidized in this manner, for the duration, it should stay ineligible for any other subsidy or award. 

In order to further encourage and advocate the growth of headquarters enterprises within the Pilot Zone, the headquarters enterprises outside the Pilot Zone that move to the Pilot Zone, set up subsidiaries and restructure subsidiaries or affiliated enterprises in the Pilot Zone should be considered qualified to apply for bonuses from the local financial authorities if the following criteria are met. For 5 consecutive years from the first year when the said enterprises pay an annual total of taxes ranging between 100 million and 200 million RMB, the enterprises concerned should receive bonuses equivalent to 80% of the locally retained portion of the said total. For 5 consecutive years from the first year when the said enterprises pay an annual total of taxes exceeding 200 million RMB, the enterprises concerned should receive bonuses equivalent to 90% of the locally retained portion of the said total.     

Since January 1, 2017, the senior managers and professionals working for the financial institutions operating, started and relocated in the Pilot Zone whose personal income tax reaches or exceeds 50 thousand RMB per annum should receive bonuses equivalent to 80% of the locally retained portion of the personal income tax they pay for the first two years and 60% from the third year onwards.

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