Chapter I: General Principles
Article 1 Purpose and Basis
In order to effectively implement the Plan for Comprehensively Deepening Reform and Opening-up of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone of Shenzhen, accelerate the establishment of a comprehensive innovation and reform pilot platform in the Guangdong-Hong Kong-Macao Greater Bay Area, build a high-level portal for opening-up, and further promote the stability, growth, and quality improvement of foreign investment, these Measures are formulated in light of relevant provisions of the Overall Development Plan for the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone of Shenzhen and the Management Measures for the Industry Development Fund of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone of Shenzhen (Shenzhen Qianhai [2020] No. 3), combined with the actual conditions in Qianhai.
Article 2 Scope of Application
These Measures apply to the review and related management activities of foreign investment incentive funds in the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone of Shenzhen (hereinafter referred to as Qianhai Cooperation Zone).
Article 3 Implementing Authority
The Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone of Shenzhen (hereinafter referred to as Qianhai Authority) is responsible for the overall management and utilization of special funds for foreign investment incentive.
Article 4 Eligible Recipients
These Measures apply to foreign-invested enterprises engaged in normal business operations in the Qianhai Cooperation Zone that meet the following basic conditions:
a. They do not belong to the real estate industry;
b. They have not been listed as seriously untrustworthy subjects.
Article 5 Incentive Duplication
Enterprises that have already enjoyed similar incentives from Nanshan District, Bao’an District, or Qianhai Cooperation Zone in the same year are not eligible for the incentives under these Measures.
Chapter II: Support Standards
Article 6 Support Standards
Foreign-invested enterprises that have newly utilized foreign investment of no less than $USD 5 million in the previous year in the Qianhai Cooperation Zone will be granted foreign investment incentives according to the following standards:
1. Financial sector: For a newly utilized foreign investment of no less than $USD 5 million, a reward of 1% of the actual foreign investment amount utilized annually will be granted;
2. Non-financial sector: For a newly utilized foreign investment of no less than $USD 5 million, a reward of 1% of the actual foreign investment amount utilized annually will be granted; for a newly utilized foreign investment of no less than $USD 30 million, a reward of 1.5% of the actual foreign investment amount utilized annually will be granted;
3. The maximum annual foreign investment incentive amount for a single foreign-invested enterprise shall not exceed 30 million RMB.
Exchange rates will be calculated based on the actual time of foreign capital arrival, using the mid-point exchange rate published by the China Foreign Exchange Trading Center for the interbank foreign exchange market.
Foreign-invested enterprises that are key to attracting investment in Qianhai and play a significant role in enhancing the level of foreign investment utilization may be supported on a case-by-case basis.
Chapter III Review and Payment
Article 7 Reward Confirmation
Foreign investment rewards are generally granted without the need of application, with specific application matters to be separately announced by the Qianhai Authority. The Qianhai Authority will send a notice of incentive qualifications to eligible foreign-invested enterprises, which must log into the service system to confirm their wish to claim the incentive. Notification time will be based on the specific time sent by the Qianhai Authority, and foreign-invested enterprises must complete the confirmation within the required time; otherwise, it will be regarded as a waiver.
Article 8 Result Announcement
The incentive results will be publicly announced by the Qianhai Authority for no less than 5 business days. If there are objections to the announcement, they must be submitted in writing to the Qianhai Authority during the announcement period. The Qianhai Authority will investigate and verify the objections; if the objection is valid, the incentive will be revoked and the revocation decision will be publicly announced; if the objection is not valid, a written notification will be sent to the objector.
Article 9 Funding Payment
After public announcement with no objections or when objections are deemed invalid, the Qianhai Authority will allocate the incentive funds according to regulations.
Chapter IV Supervision and Management
Article 10 Integrity Supervision
The distribution and usage of incentive funds shall be made public, and are subject to supervision by relevant departments and society.
Article 11 Cooperation Requirement
Foreign-invested enterprises should cooperate with the Qianhai Authority in conducting fund performance evaluations, project tracking management, and supervision inspections, and provide relevant materials promptly as required.
Article 12 Violation Handling
If Qianhai Authority personnel neglect their duties, abuse their power, fail to fulfill or improperly fulfill their responsibilities as stipulated in these Measures, or misuse their official position for personal gain, such cases will be reported and transferred to the Discipline Inspection Committee of the Qianhai Cooperation Zone and the Qianhai Integrity Supervision Bureau for investigation. If violations are confirmed upon investigation, disciplinary and administrative penalties will be imposed in accordance with regulations; cases involving suspected criminal offenses will be transferred to judicial authorities for handling according to law.
Chapter V Supplementary Provisions
Article 13 Interpretation of Terms
The terms “not less than” and “not exceeding” include the respective amounts; the term “newly increased” includes both newly established and capital-increased enterprises.
Article 14 Hong Kong, Macao, and Taiwan-funded Enterprises
Enterprises with investments from Hong Kong, Macao, and Taiwan will be subject to the same regulations as foreign-invested enterprises.
Article 15 Interpretation of Measures
These Measures are interpreted by the Qianhai Administration.
Article 16 Validity Period
These Measures will be implemented from March 25, 2024, with a validity period of three years. If there are inconsistencies between previously issued relevant regulations and these Measures, these Measures shall prevail.
Qianhai Authority
April 11, 2024