Nanning issues measures to encourage foreign investment

The Nanning area of the China (Guangxi) Pilot Free Trade Zone (FTZ) issued measures to encourage foreign investment on April 12. In the first quarter of this year, 3,538 new enterprises were established, including 35 foreign-funded enterprises, a year-on-year increase of 67 percent.

Manufacturing enterprises with an actual foreign investment of more than $10 million in the current year, as well as service industry and trade enterprises with an actual accumulated foreign investment of more than $15 million in the current year will receive a reward equivalent to 2.5 percent of their total actual foreign investment, with the maximum reward given being 10 million yuan ($1.87 billion).

Foreign-funded enterprises registered and established in the Nanning area of the Guangxi FTZ that invest in manufacturing projects will be subsidized at a rate of up to 30 percent of the loan interest, with the subsidy period being up to three years and the cumulative subsidy amount for a single project not exceeding a maximum of 6 million yuan.

Newly-introduced foreign-invested enterprises that purchase office space over 200 square meters for self-use for the first time in the Nanning area of the Guangxi FTZ, which have an accumulated foreign capital of more than $5 million, will be given a house purchase subsidy of 700 yuan per sq m up to 1,500 sq m.

The Nanning area of the China (Guangxi) Pilot Free Trade Zone. [Photo/WeChat account: gh_df8bc987e060]