Policy revised for better business environment

Amendments have been updated to a preferential policy released by Yangzhou government advocating charging no extra fees from major industrial projects, after the discussions held during an executive meeting on Sept 30.

The revised policy attaches great importance to advanced manufacturing industry, encouraging more major technical projects to settle down in Yangzhou.

Seven kinds of fees including real estate registration fees and urban infrastructure fees were listed in the policy to bring more convenience to companies.

The policy, first released in 2010, has benefited 39 projects in the city with their total exemption reaching 73.4 million yuan ($10.6 million). Up to 2017, these projects have reached a sales value of 21.1 billion yuan and tax revenue of 1.38 billion yuan.

"Our project settled down in 2016. Thanks to the preferential policy, we have saved 2.94 million yuan for various administrative institutional fees and governmental funds," said Tang Yue, from Weichai Power Co Ltd, possessing an industry chain of power system, heavy vehicles, automobile electronics and parts.