The Dream Factory of China

Source :Shenzhen Daily

Several Hong Kong-funded companies in Qianhai gave their thumbs-up to a series of measures by the Qianhai authority to help companies in the area overcome the impact of COVID-19.

According to the measures, Qianhai will reduce or waive some taxes, rent and utility fees for companies. Specifically, Qianhai will accelerate implementing the 15% corporate and individual income tax rate policy, reduce property tax, urban land use tax, stamp duty, water, gas, companies’ electricity costs and waive liquidated damages.

For companies leasing properties of the Qianhai authority and State-owned companies, the office rent will be reduced or waived; Hong Kong, Macao, micro and small companies will have additional two months’ rent waived; and for non-State-owned proprietors who waive or reduce rent for companies, 15% of the waived or reduced rent will be reimbursed.

“The relief measures rolled out by the Qianhai authority is like a timely rain for us, which will greatly reduce companies’ capital and operating burdens, boost market players’ confidence and speed up the resumption of the normal order of social production and life,” said Liu Yu, general manager of Hang Seng Qianhai Fund Management.

Since its establishment in Qianhai in 2016, Hang Seng Qianhai Fund Management has experienced rapid development and launched multiple cross-border financial products and services, taking advantage of Qianhai’s geographical strength.

“The supportive policies make us believe Shenzhen and Qianhai will create a better business environment to empower companies’ growth. Our company will establish deeper roots in Qianhai to launch more featured financial services, so as to make bigger contributions to the cooperation between Shenzhen and Hong Kong and the development and opening up of Qianhai,” Liu said.

According to Xu Xin, senior assistant manager of the architectural design company Leigh & Orange (Shenzhen) Co. Ltd., the tax and rent reduction measures are tangible help for them.

“The pandemic has affected our normal operations, but these policies can help us through this difficult time. We firmly believe with the government and companies' mutual support, we will surely overcome this challenging period and embrace a newer and better future,” he said.