Foreign-funded enterprises can now apply for rewards for actual utilization of new investments involving more than US$30 million in 2020, sources from the Shenzhen Municipal Commerce Bureau showed.
The deadline for the application is May 10.
According to relevant regulations, for new projects involving more than US$50 million and newly added investment involving US$30 million in 2020, authorities will offer rewards at the standard of 2 percent of the actually utilized annual investment, or at a maximum of 100 million yuan (US$15 million).
Despite the COVID-19 pandemic, the city’s actual foreign investment utilization was US$8.68 billion last year, up by 11 percent over the previous year. Between January and February this year, the actual foreign investment utilization was US$940 million, up by 17.8 percent, statistics showed.
To encourage foreign multinationals to operate in Shenzhen, the city will reward between 3 and 5 million yuan to companies that set up headquarters in Shenzhen with investments between US$20 million and US$50 million. For investments of more than US$50 million, the reward will be 6 million yuan.
The Shenzhen Municipal Commerce Bureau will accept the second round of applications in October.