Anhui province will allocate special funds as incentives for foreign investors from 2018 to 2020 as the eastern Chinese province aims to better use foreign capital and maintain investors’ confidence and expectations, the local commerce regulator said.
If a Fortune Global 500 company or a global industrial leader sets up an R & D center in the province, they will receive a reward worth 10 percent of their actual investment in R & D on a yearly basis, according to the Department of Commerce of Anhui Province.
The R & D center which enjoys status as an independent legal entity will deserve a maximum of 1.5 million yuan ($217, 622). Otherwise it will get a reward of 800,000 yuan at most, the department added.
In addition, a maximum reward of 2 million yuan will be given to any country-or-above headquarters project launched in Anhui by foreign-invested multinational company.
The province will also woo foreign investors engaged in information technology, artificial intelligence, bio-medicine and new energy and materials, in a bid to strengthen new drivers of growth. A maximum of 1.5 million yuan will be offered each.
Meanwhile, a foreign enterprise whose annual investment in Anhui exceeds $50 million will receive not more than 1.5 million yuan as a reward, the department said.