The Hunan Xiangjiang New Area has recently issued a guideline to support the high-quality economic development of Yuelu District, the area’s management committee said on November 2nd.

The guideline points out measures in four key aspects: encouraging investment by leading enterprises; fostering strategic industries; building a highland of an open economy; and, helping enterprises increase capacity and efficiency. They aim to boost the development of the “2+3” distinctive industrial chains and strategic emerging industries represented by intelligent vehicles, artificial intelligence health care, modern finance, cultural tourism, and high-tech services (including headquarters economy). As a result, the industrial transformation and upgrading of the Xiangjiang New Area and Yuelu District will be facilitated.

In terms of encouraging investment by leading enterprises, the members of Fortune 500 enterprises, industry leaders, and outstanding enterprises will be granted a reward of up to twenty million yuan for their settling down, investment and contributions; a one-time bonus of up to ten million yuan for purchasing office space, and a cumulative reward of up to five million yuan for renting office space.

As for fostering strategic industries, based on the Xiangjiang New Area and Yuelu District’s pillar industries, eligible strategic enterprises will receive a reward of up to five million yuan for purchasing office space and their contributions and a compensation up to three million yuan for renting office space.

Regarding encouraging foreign investment, developing foreign trade, and building international communities, a combination of foreign investment rewards, foreign trade performance rewards, and related subsidies will be offered as a means to incentivize. The reward for foreign direct investment and international credit service institutions is up to one million yuan. The maximum compensation for a single enterprise in cross-border trade is two million yuan. The reward for cross-border e-commerce platforms is up to one million yuan. Constructors and operators of international communities and supporting facilities will be given a subsidy of up to one million yuan. The reward for overseas returnees to start a business at the Overseas Returnee Small Town is as high as two million yuan. Finally, the highest reward for organizers of talent promotion activities at home and abroad is one million yuan.

Source: en.changsha.gov.cn