In order to standardize the investment promotion policy for the central urban area, further optimize the business environment, promote industrialization, and speed up the building of Jingzhou City into a regional central city, the following support measures are hereby formulated for investment promotion projects (including industrial technological transformation and capacity expansion projects) that have been registered within the scope of the central urban area (Jingzhou District, Shashi District, Jingzhou Economic & Technological Development Zone, Ji'nan Eco-Culture & Tourism Area and Jingzhou High-tech Industrial Development Zone) with independent legal personality and for which taxes have been paid according to law.
Article 1 Guarantee of Land Supply
1. Land guarantee for industrial projects.
First ensure land supply. For industrial projects that meet the national policies on industry, safety, environmental protection and energy consumption, the base price of land transfer may be not lower than 70% of the corresponding price level for the local land grade.
Optimize land supply methods. Land may be supplied in a flexible transfer way of " combination of lease and transfer" and "lease before transfer". Enterprises are allowed to pay land transfer price in installments within one year, and the initial payment ratio shall be not less than 50%.
Encourage intensive land use. For an industrial project for which multi-storey plants are built in line with the national land use standards, if the floor area ratio is more than 1.5, a subsidy of RMB200/square meter will be given to the industrial plants used for production from the second floor, and the cumulative subsidy for a single enterprise shall not exceed RMB5 million. For industrial projects that meet the planning and safety requirements, make full use of the existing site without change in the use, carry out additional floor reconstruction on the original construction land, and increase the land plot ratio, no additional land transfer price will be collected.
Support the construction of standardized plants. Standardized plants with a floor area ratio of more than 1.2 may be registered and transferred level by level subject to the satisfaction of fire safety and construction industry standards.
2. Land guarantee for logistics projects.
Land used for logistics projects (except land with market trading functions such as material wholesale and retail) may be transferred according to the minimum standard for industrial land in the places where the projects are located.
3. Land guarantee for tourism projects.
Land in tourism projects that are used for natural landscape and for agricultural, animal husbandry, fishery, planting and breeding industries will not be expropriated (recovered) or have their purpose changed, and will managed according to their current use.
It is encouraged to explore new industrial land models in Jingzhou Economic & Technological Development Zone and Jingzhou High-tech Zone, and the Municipal Natural Resources and Planning Bureau will take the lead in introducing specific measures.
The subsidies and support funds involved in this article shall be borne by the local finance.
Article 2 Subsidies for Investment in New Fixed Assets
1. If the one-time investment in new fixed assets of an industrial project meets the following standards, graded subsidies may be given in proportion after completion of construction and put-into-production.
If the actual investment in fixed assets amounts to RMB50 million (inclusive) to RMB100 million, a subsidy may be granted at a rate of 4%; if the amount of actual investment in fixed assets exceeds RMB100 million (inclusive), the part between RMB100 million to RMB500 million may be granted a subsidy at a rate of 6%; if the amount of actual investment in fixed assets exceeds RMB500 million (inclusive), the part between RMB500 million to RMB1 billion may be granted a subsidy at a rate of 8%.
If the actual investment in fixed assets amounts to more than RMB1 billion (inclusive), the mechanism of "one project one discussion" shall apply.
2. For industrial projects where local enterprises increase capital and expand production or attract foreign enterprises to invest through joint ventures, equity participation, mergers and acquisitions, the investment in the new fixed assets shall be subject to the above-mentioned provisions (the part that has already enjoyed the subsidy for technological transformation of productive equipment of industrial enterprises will enjoy such subsidy again).
3. The maximum amount of fixed asset subsidy for land acquisition projects shall be the actual amount of land transfer price paid.
The subsidies involved in this article shall be borne by the local finance.
Article 3 Support for Heavy Asset Construction
For an industrial project with fixed asset investment of more than RMB500 million, support for heavy asset construction may be given in light of the needs of the enterprise concerned:
1. If the enterprise promises to buy back within 5 years after signing the contract and pay some deposit, plant facilities may be constructed on behalf of the enterprise. If the enterprises has great local financial contribution and high technology content, the rent paid by it before the buyback may be used to offset the buyback funds.
2. If the enterprise leases equipment through financing, it may be granted a three-year subsidy at the then prevailing rate quoted on the one-year bank loan market.
The subsidies and support funds involved in this article shall be borne by the local finance.
Article 4 Subsidies for Equipment Relocation and Plants Lease
For industrial projects with high technical content, strong growth, annual paid amount of value-added tax and corporate income tax of more than RMB3 million, if equipment is relocated from outside Jingzhou City for them, equipment relocation subsidy may be given at 2% of the assessed equipment value, to the extent of not more than RMB 5 million; for projects that rent standard plants in parks, pay annual value-added tax and corporate income tax of more than RMB1 million in total, and have tax intensity of RMB 300/square meter (or in case of Jingzhou Development Zone and Jingzhou High-tech Zone, 375/square meter), subsidies may be given at 50%-100% of the rent for three consecutive years.
The subsidies involved in this article shall be borne by the local finance.
Article 5 Subsidies for Logistics Costs
For a newly introduced industrial project with annual paid amount of value-added tax and corporate income tax of more than RMB10 million, logistics subsidy may be given, provided that the subsidy shall not exceed 5 ‰ of its sales income in each year or RMB5 million in total, or be given for not more than 3 years.
The subsidies involved in this article shall be borne by the local finance.
Article 6 Rewards for Financial Contribution
If newly introduced industrial projects or newly launched industrial projects of local enterprises have total annual paid amount of value-added tax and corporate income tax of more than RMB3 million for 6 consecutive years after they are put into operation, rewards shall be granted, in the first 3 years, at 100% of the amount of actual financial resources attributable to the city or district from the value-added tax and corporate income tax paid by the enterprises in the current year, and, in the subsequent 3 years, at 50% of the same.
This article shall apply mutatis mutandis to other projects in cold chain logistics and high-tech industries that are in line with the development of leading industries in the districts and have great financial contribution to the districts and high added value.
The rewards involved in this article shall be borne by the finance of the beneficial area.
Article 7 Financial Support
1. Financial institutions are encouraged to provide financing support and services for projects in industries encouraged by the state.
2. Financing guarantee institutions are encouraged to give financing guarantee support to enterprises specialize in the new "little giant" and unicorn enterprises.
3. For encouraged industrial projects with fixed asset investment of more than RMB200 million or annual paid amount of value-added tax and total corporate income tax of more than RMB5 million, if the investor has demand and the fund management institution considers feasible through due diligence, they may be supported through the government industrial investment fund, provided, however, that the government industrial investment funds shall have a shareholding proportion of not more than 20%, shall not become a major shareholder, and shall exist for not more than 7 years in principle. If the government industrial investment fund withdraws its equity therein, such equity may be first transferred to the shareholders of the invested enterprise in accordance with the law, subject to consideration determined by both parties through consultation.
4. The listing of enterprises shall be supported in accordance with the Implementing Opinions on Further Accelerating the Development of Multi-Level Capital Market (Jing Zheng Fa [2016] No.19) and the Implementing Measures of Jingzhou City for Listing Incentives for Enterprises (Jing Zheng Fa [2021] No.6).
The support and incentive funds involved in this article shall be borne by the finance of the beneficial area.
Article 8 Support for Senior Executives and Talents of Enterprise
1. For newly introduced enterprises with total annual paid amount of value-added tax and corporate income tax of more than RMB3 million (inclusive), their senior executives and high-level talents (not more than 15 in a single enterprise) who work and live in the central urban area of Jingzhou City and earn an annual salary of more than RMB200,000, they may be rewarded, in the first three years, at 100% of the amount of actual financial resources attributable to the city or district from the personal income tax paid by the enterprises in the current year, and, in the subsequent 3 years, at 50% of the same.
2. Urgently needed talents and undergraduates who practice and are trained in newly introduced enterprises shall be granted subsidies in accordance with the Circular of the Municipal Party Committee Office and the Municipal Government Office on Issuing Five Documents Including the Opinions on Strengthening Enterprise Talent Introduction and Training Services (Jing Ban Fa [2021] No.6).
The subsidies and rewards involved in this article shall be borne by the finance of the beneficial area.
Article 9 Subsidies for Revitalized Stock Projects
Revitalized stock projects shall be deemed as newly introduced investment projects and may enjoy the relevant support policies.
For revitalized stock projects with new fixed asset investment of more than RMB50 million (inclusive), each district may, at its sole discretion, give a one-time subsidy to the implementing entities.
The subsidies involved in this article shall be borne by the local finance.
Article 10 Headquarters Economy Rewards
Where an enterprise moves the registered place of its headquarters from outside Jingzhou City to the urban area of Jingzhou City or sets up a regional headquarters in the urban area, if its total annual paid amount of value-added tax and corporate income tax is more than RMB3 million (inclusive), rewards shall be granted at 80% of the amount of actual financial resources attributable to the city or district from the value-added tax and corporate income tax paid by the enterprise in the current year, for 8 consecutive years from the date when it commences tax payment.
The rewards involved in this article shall be borne by the finance of the beneficial area.
Article 11 Rewards for Foreign Investment
In addition to the same support policies as for domestic-funded industrial projects, foreign-funded industrial projects may also enjoy rewards accordingly.
For foreign-funded industrial projects set up or with capital increase in the central urban area of Jingzhou City, if the actual paid amount of foreign capital in the current year is more than USD5 million (inclusive), rewards shall be given at 1% of the actual paid amount of foreign capital (equivalent to RMB, hereinafter the same) in the current year, to the extent of not more than RMB 3 million.
For projects with new fixed asset investment of USD10 million (inclusive) to USD20 million, USD20 million (inclusive) to USD50 million, and USD50 million (inclusive) or more, rewards shall be given at RMB 1 million, RMB3 million, and RMB5 million, respectively, when they are officially put into production.
The rewards involved in this article shall be borne by the finance of the beneficial area.
Article 12 Support for R&D Innovation
For the newly-built national and provincial enterprise-school joint innovation centers, key laboratories and other R&D institutions, and the newly-built industrial technology research institutes, and platforms approved as national or provincial technology business incubators, crowd-creation space, star creation world, or achievement transformation pilot-scale study bases, rewards shall be granted in accordance with the Opinions of the Jingzhou Municipal People's Government on Accelerating Scientific and Technological Innovation and Enhancing New momentum for High-Quality Development (Jing Zheng Fa [2021] No.1). Support for the above-mentioned platforms transferred from outside Jingzhou City shall be given with reference to new platforms.
Article 13 Project Subject to One Project One Discussion
High-tech industrial projects invested by the world's top 500 enterprises, China's top 500 enterprises, central enterprises, large state-owned enterprises and main board listed companies, investment projects of national high-tech enterprise, industrial projects that extend the industrial chain and promote the development of industrial clusters, and major headquarters economy projects, industrial projects with a one-time fixed asset investment of more than RMB1 billion (inclusive), etc., may be given key support through the "one project one discussion" method.
For major cultural tourism projects with large investment scale, strong driving force, and good economic contribution, after "one project one discussion", key support will be given in terms of industrial support funds, land use concessions, creative design, and supporting infrastructure. Depending on the needs of enterprises, municipal state-owned platform companies and equity investment funds shall be supported to participate in investment in cultural tourism projects according to the market-oriented operation mode.
Article 14 Cashing Subject and Process
The funds involved in these Measures that are subsidized, supported and rewarded by the local finance shall be borne by the district finance; the funds subsidized, supported and rewarded by the finance of the beneficial area shall be shared by the municipal and district finance according to the settlement ratio of the municipal and district financial system. The municipal finance will not bear, on a level by level basis, the subsidies, support and rewards required for various policies in Jingzhou High-tech Zone and Jinan Cultural Tourism Zone.
An enterprise applying to enjoy the relevant preferential policies under these Measures shall, in principle, submit a written application to the investment promotion department of the district (functional area) where it is located after meeting the incentive conditions, being put into production and paying taxes. The investment promotion department shall take the lead to collect or issue relevant supporting materials in concert with the finance and taxation departments, and submit them to the district (functional area) for collective research and approval. Funds involving municipal subsidies, support, and rewards shall be reported to the municipal government by the district government or management committee, and the municipal finance shall allocate the said funds to the district (functional area) finance in a timely manner according to the approval opinions of the municipal government, and the district (functional area) finance will cash the part borne by the city and district finance to the enterprise.
For project subject to "one project one discussion" that involve municipal financial subsidies, support and rewards, the investment agreement shall be reported to the municipal government for the record in advance.
All units and departments involved in the fulfillment of this support policies shall keep their promises, strictly fulfill the policies, and seriously hold accountable those acting in prevarication and perfunctoriness.
Article 15 Supplementary Provisions
1. the same project and the same matter conform to different provisions of these measures or other policies and measures of this city, it shall be implemented in accordance with the principle of no repetition.
Real estate development projects, mergers and acquisitions projects without additional investment, PPP projects, etc. do not enjoy the support policies of these Measures.
If the relevant investment promotion policies previously issued are inconsistent with these Measures, these Measures shall prevail.
2. These Measures shall come into force as of the date of issuance and shall remain valid for 5 years.
3. These Measures shall be interpreted by the Office of the Municipal Leading Group for Investment Promotion.