Dalian encourages establishment of new companies

Dalian, in Northeast China's Liaoning province, has recently launched an initiative to encourage individual industrial and commercial units to upgrade into enterprises, according to news from the municipal government.

The city will offer preferential policy support and convenient services from departments such as industry and commerce, taxation, social insurance and finance.

According to regulations, the new small and micro companies will enjoy preferential policies such as tax reduction and exemption, subsidies for entrepreneurship and social insurance, and funding for industrial development.

For those individual units with registration of more than one year and having transformed to companies for more than six months, the city will give 5,000 yuan ($718) worth of financial support to each new company.

The city encourages new companies to increase investment in technology research and development, giving financial support to those identified as high-tech companies – 200,000 yuan for newly identified ones and 100,000 yuan for already identified ones. 

Dalian is also encouraging financial institutions in the city to offer preferential services to newly established companies.