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5 New Cash Incentives for Companies in the Shenyang FTZ

5 New Cash Incentives for Companies in the Shenyang FTZ

5 New Cash Incentives for Companies in the Shenyang FTZ

On August 15th, Shenyang Free Trade Zone (FTZ) has released new cash incentives up to 20 million RMB, the minimum is not less than 5 million RMB for companies within the certain industry to register, here are the details from the local press:

What is FTZ click here

To further promote the construction and development of the city, the Shenyang Free Trade Zone Administrative Committee is stepping up efforts to develop the second batch of innovative initiatives. Especially aiming the equipment manufacturing, automotive, spare parts, aviation equipment, other advanced manufacturing, finance, science technology, logistics and other modern service industries, while focusing on the development of industrial support policies. Among them, in support of the policy, the incentives include:

  1. New and advanced manufacturing enterprises who have paid into the registering capital up to a certain amount are eligible for a one-time reward based on three consecutive years of the company’s contribution to local economic development in the region at 100%
  2. Grants are available for companies who will build innovation center, R&D facilities, laboratories, and enterprise technology research institutions
  3. For import consumer commodity in the form of direct selling center platform companies, a grant is available for its operation and opening
  4. Incentive for financial organizations who plan on having its headquarter stationed on the financial island or FTZ, the incentive amount is based on the registering capital actually paid, in addition, for the first two years, grant is awarded based on the local retained tax at 100%, followed by three years of tax rebate at 70% standard
  5. For commercial factoring, financial intermediaries, financial education and training institutions, financial elements of market, financial innovation, and individual executives wage income tax are also given different incentive and support policies

As of August 14th, there are more than 8600 new registered enterprises in Shenyang Free Trade Zone, with a  total of the registered capital of 69 billion RMB, the momentum is very good. At present, in accordance with the “General Liaoning Free Trade Zone Plan”, Shenyang area has completed the preparation of the implementation plan and the three year operation plan, and has implemented a total of 230 specific test tasks and measures, the next step will focus on the core task of system innovation, according to the idea of implementation and promotion as fundamental, and comprehensively promote the FTZ pilot trials.

Source: Shenyang evening news

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