Shenzhen has earmarked special funds to galvanize foreign-funded businesses to attract and utilize foreign capital, according to the guidelines recently issued by the Shenzhen Municipal Commerce Bureau.
Qualified foreign-funded enterprises in Shenzhen that are mainly engaged in the manufacturing industry are eligible for the application, Shenzhen Special Zone Daily reported.
The guidelines aim to expand the use of foreign capital, support the establishment of new projects with foreign investment, and encourage foreign-funded companies to increase capital and expand production.
Rewards will be given to new foreign investment projects set up in the city in 2019, if the actual foreign investment amounts to US$50 million or more. Two percent of the actual foreign investment amount will be rewarded, with a maximum reward of up to 100 million yuan (US$14 million).
For projects with added foreign investment, the city will give rewards to those projects with actual foreign investment that amount to US$30 million or more. Likewise, 2 percent of the actual foreign investment amount will be rewarded, with a maximum reward of up to 100 million yuan.