Incentives for investment in key industries

Fortune Global 500 companies are encouraged to settle in the China (Zhejiang) Pilot Free Trade Zone (Zhejiang FTZ). Fortune Global 500 companies that register in the Zhejiang FTZ for the first time and promise to remain for five years will be provided with corresponding financial support. Enterprises that move their headquarters to the Zhejiang FTZ , will be provided with one-time financial support according their regional contribution to a maximum of 10 million yuan. Companies that set up first-tier subsidiaries in the zone will be provided with one-time financial support matching their regional contribution up to five million yuan.

Incentives for complete industrial chain of oil products

1. The Zhejiang FTZ encourages settlement of enterprises handling storage, transportation, transition and trade of bulk commodities including oil products. For registered enterprises dealing with bulk commodity trade in the zone, classified awards will be granted in accordance with their regional contribution.

2. The Zhejiang FTZ encourages the settlement of bonded fuel suppliers. It allows enterprises to operate direct supply businesses of bonded fuel oil across different custom areas. Efforts are made to explore various modes of bonded oil supply, including “oil supply before customs clearance”, “one oil ship supplies several” and “one ship, multiple functions” to elevate the direct supply capacity in the off-port anchorage and cross-custom areas and facilitate the customs clearance of bonded fuel oil supply.

Incentives for advanced manufacture industry

1. The Zhejiang FTZ encourages the settlement of green petrochemical enterprises. It hopes to become a world-class green petrochemical industrial base and accelerate world leading environmental-friendly petrochemical industrial clusters. The free trade zone encourages investors at home and abroad to participate in the construction and operation of a petrochemical base through resources, capital, technology and markets. It welcomes the engagement of world-class petrochemical enterprises and enterprises from oil-affluent countries along the Belt and Road in investment and construction. Support in qualification, quotas and the right of use of imported crude oil will be given to eligible oil processing enterprises.

2. The Zhejiang FTZ encourages the settlement of enterprises in modern aviation industries. Efforts are underway to build aviation industrial park in Zhujiajian Island and to establish aviation industrial clusters through promoting assembly and manufacturing of aircraft and international aviation industry transfers. The Zhejiang FTZ encourages the introduction of industries including pilot training, aerial sightseeing, general aviation base operation services and related scientific and research institutions. It also encourages the agglomeration of high-end and advanced aeronautic manufacturing, component logistics, research and design and other supporting industries. Taking advantage of the program of the Boeing Completion and Delivery Center, it encourages the settlement of renowned enterprises at home and abroad in aeronautic equipment and component manufacturing industries.

3. The Zhejiang FTZ encourages the settlement of enterprises in sectors including ship and ocean engineering equipment, maritime electronic information, and marine biotechnology. It encourages the introduction of research and manufacturing industries like green energy-saving ships, high-tech and high-added-value special ships and ocean engineering equipment and aims to establish a world-famous base for ship and ocean engineering equipment engineering and for ship maintenance. It also encourages the introduction of industries like maritime big data, maritime communication satellites, marine electronics and marine detection equipment and aims to build a national marine electronic information industrial demonstration base. Accelerating the marine biomedical industry, it will build a marine biological industry cluster with Zhoushan characteristics.

For the three above-mentioned industries settling in the Zhejiang FTZ, comprehensive support policies of “one discussion over one case” will be granted to key projects with investment of over one billion yuan and major investment programs like the introduction of Fortune Global 500 companies.

Incentives for modern service industry

1. The Zhejiang FTZ encourages the settlement of maritime service enterprises. It encourages companies at home and abroad to develop high-level service industries like international ship management, building, repair and inspection, bonded maintenance, shipping insurance, shipping arbitration, average adjustment and shipping transaction. Rewards up to five million yuan, according to the regional contribution, will be granted to entity enterprises engaging in substantial business activities with actual utilized capital of over 50 million yuan.

2. The Zhejiang FTZ encourages settlement of financial service enterprises. Financial support of one percent of the registered capital or the actual amount of the working capital, with a maximum of five million yuan will be provided to banking financial institutions, banking licensed specialized institutions, securities institutions, fund management institutions, future institutions, insurance institutions, third-party payment institutions, asset management companies and other non-banking financial institutions that are approved by regulators of the “one bank and three commissions” (People's Bank of China, China Banking Regulatory Commission, China Securities Regulatory Commission, China Insurance Regulatory Commission) and promise to remain for five years, as well as transaction centers that are approved by regulators above provincial level in accordance with the development requirement of the Zhejiang FTZ and also agree to stay for five years. Financial support of one percent of the registered capital or the actual amount of the working capital, to a maximum of two million yuan, will be provided to non-financial payment service institutions, currency exchange companies, insurance agents, and insurance brokers that are approved by “one bank and three commissions” and promise not to move out within five years as well as financing guarantee companies, small-loan companies, rural fund mutual aid associations that are approved by the regulators and agree to stay for five years.

3. The Zhejiang FTZ encourages the settlement of cross-border service and off-shore trade enterprises. It welcomes international logistics, trade and settlement centers. Financial support to a maximum of one million yuan will be provided to enterprises that settle their international logistics, trade and settlement center in the Zhejiang FTZ and agree to remain for five years, if their first annual overseas settlement business revenue exceeds 100 million yuan. It also encourages the development of the e-commerce sector. Financial support, with a maximum of two million yuan, will be granted to e-commerce enterprises settling in the free trade zone if their annual business revenue exceeds 1 billion yuan.

Note: This abridged English version is for reference only. For more information, please consult the authoritative Chinese version.