Biz News Flash

Selections from preferential policies

(China Daily)
Updated: 2011-05-20 14:54

Beijing Etown's measures that supporting industrial development

Any company wanting to apply for industrial development funds must meet the following conditions:

1.be an independent legal entity;

2.registered with Etown administration, with taxes and business fully addressed in the Etown;

3.act in accordance with development demands of the Etown.

Any new company that ranks among the Fortune 500, China's top 100, is in the top 10 in a certain industry, or has a national brand product can apply for a support funds that cannot exceed the amount of rent paid by the company annually for plant use for research, development and production in the Etown when tax should be paid for the leasing. The funds will be available for, at most, three years.

Any new production-oriented company buying land for a plant can apply for funds to cover 50 percent of the tax paid by the company and retained by the Etown, within five years of registration.

Any company that is the multinational headquarters or local HQ, or corporate group HQ, or has an R&D center, marketing center, settlement center, logistics center, service outsourcing, assets management, venture investment, or other service can apply for funds to cover 100 percent of the taxes retained by the Etown, within five years of registration.

Policies supporting experienced professionals from overseas

The new area has a special fund that provides 100 million yuan annually for experienced professionals from overseas who want to establish businesses and work in the new area.

Any experienced professional from overseas who independently takes responsibility for key national or Beijing municipal projects and who has intellectual property rights, advanced technological achievements, an ability to fill in the gaps in the nation's markets, or great market potential and industrialization abilities can qualify for certain funds for support.

Venture capital companies who want to invest in the companies established by experienced professionals from overseas can buy shares through a guide fund for 10 to 30 percent of the total investment.

Single investments must be no more than 10 million yuan. A joint investment can also be made in companies established by experienced professionals from overseas through cooperation with a venture capital company. The investment cannot exceed 10 percent of total investment and can be no more than 10 million yuan.

Companies established by experienced professionals from overseas that rent offices and workshops from qualified zones qualify for a rent subsidy equivalent to 50 percent of the annual rent, from the beginning of the lease. The subsidy is available to a single company for two years, not to exceed 2 million yuan.

Companies established by experienced professionals from overseas can qualify for loan interest subsidies, not to exceed 50 percent of the annual interest rate, based on the benchmark interest rate. The annual subsidy cannot exceed 2 million yuan, and is available for three years at the most.

Funds are available for experienced professionals from overseas who come to the Etown to establish a business to cover patent expenses and establishing the company or for post-doctoral research projects. Further assistance is available for housing, travel abroad, spouse employment, schooling for children, and health exams.

Special scientific and technical innovation funds

Managing the special fund for scientific and technical innovation:

(1)A fund not to exceed 5 million yuan will be provided for technology R&D projects that have State government, Beijing government, or the Zhongguancun Science and Technology Park support, at a proportion of 1:1, in accordance with the Measures and Rules on the Implementation of Management Measures of Special Funds for Scientific and Technical Innovation (Implementation Rules).

(2)A fund not to exceed 3 million yuan is available for technological R&D projects that fail to win the support mentioned above but meet conditions in the Implementation Rules and have been reviewed by experts, depending on the input of the company involved or the industrialization level, and based on the amount of compan

(3)A one-time fund of 500,000 yuan will be providedfor companies recognized as Beijing technology centers and technological R&D organizations; and a one-time subsidy of 1 million yuan will be provided for companies recognized as national technology centers, engineering centers, and R&D centers.

(4)A fund not to exceed 5 million yuan is available for individual achievements that meet the Implementation Rules and have been used for projects, after an expert review or technology transfer among the parties involved.

(5)Each domestic invention, utility model or design patent qualifies for support funds of 2,000, 8,000, or 20,000 yuan. Each foreign invention, utility model, or design patent can qualify for a support fund of 100,000 yuan.

(6)Any company engaged in production with a domestic patent can get support funds equivalent to 100 percent of the patent's annual renewal cost.

(7)Any company with annual exports worth more than $1 million that use a foreign patent obtained through PCT qualify for support funds equivalent to 60 percent of the annual patent renewal cost in the exporting country.

(8)Special support funds can be provided for key projects with core technology that closes technology gaps in China and abroad and has outstanding economic benefits, depending on the degree of the breakthrough.