Guangxi to spend big bucks on attracting investment

In order to expand opening up and cultivate new industries, the People's Government of Guangxi Zhuang autonomous region recently issued the Incentive Measures for Investment Promotion in Guangxi to attract high-quality investment projects from home and abroad.

The 20 incentives proposed in the file cover all kinds of investment attraction targets and encompass cities with districts, officials, major projects, high-tech projects, enterprise headquarters, high-growth SMEs, unicorn companies and intermediaries. 

A new incentive mechanism for the use of foreign-funded target performance appraisal has been added. Major investment promotion projects with a contractual value of more than $15 million for newly introduced enterprises will get a one-time reward equivalent to one percent of the actual funds in the year of the project.

The measures give great rewards to investment intermediary agencies. Intermediary agencies that successfully introduce high-tech enterprises and enterprise headquarters can receive a one-off reward of 0.5 percent of their actual funds in the place. Intermediary agencies who are entrusted by the Guangxi Investment Promotion Bureau and work in the name of the Guangxi Investment Promotion Office can apply for upfront funds ranging from 200,000 yuan ($28,959.43) to 500,000 yuan per year.

Since Guangxi issued interim incentives measures for investment promotion in June 2016, it has awarded a total of 63 million yuan in performance appraisal incentive funds and 15.22 million yuan for major projects in 10 emerging industries.