Enterprises with headquarters settled in the Pingtan Comprehensive Pilot Zone can expect to enjoy favorable taxation policies, Xinhua reported on Sept 24.

The local administrative committee has announced that it will reimburse such enterprises the equivalent of 70 percent of the taxes they pay to the local government in the first five years. The amount rises to 80 percent for Fortune 500 and China 500 companies, State-owned enterprises and Taiwan's top 100 corporations.

In addition to the large tax reduction, the government has also pledged to offer eligible companies a series of preferential policies - such as rewards for economic contribution, discounts on property rentals and talent support – in a bid to improve the investment environment.

The Pingtan government has already approved the establishment of headquarters of four enterprises: The Fujian Zhongfu Industries Ltd, Shantian Forestry Ltd, Dongxing Securities and the Funeng (Pingtan) Finance Leasing Ltd.

Officials at the local bureau of finance said the four headquarter enterprises will play a positive role in Pingtan's economic development as they will help increase the gross domestic product and tax revenue of Pingtan.

Edited by Chen Zhilin and Niva Whyman