Nansha in the GBA ups incentives to lure foreign investors
As the business environment in China is perceived to be worsening amid the strict zero-Covid policy and deteriorating relations with the West, Nansha in the Greater Bay Area is rolling out incentives to lure foreign investors.
The Nansha Development Zone of Guangzhou has launched a series of capital incentives and subsidies for foreign, Hong Kong as well as Taiwan enterprises.
These include capital investment incentives, capital increase incentives and production-facility rental subsidies.
For example, new capital investment will be awarded incentives between 1-1.5 percent of the amount of capital. Existing companies can also receive similar incentives for additional capital invested. Companies setting up regional headquarters in Nanshan will get financial incentives too.
To relieve the cost pressure, there will also be rental subsidies for production and warehouse facilities. Support will also be extended to companies seeking to build, expand ore relocate their factories.
However, specific criteria have to be met and incentives do not apply to all types of businesses, the property sector is excluded for example. There are also caps on specific types of incentives. Details and be found on the Guangzhou municipal government’s website.
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