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Measures for Shandong Province to Further Utilize Foreign Investment
发布日期: 2020- 10- 15 信息来源: 浏览次数: 字体:【

In order to thoroughly implement the decisions and deployments of the CPC Central Committee and the State Council on keeping foreign investment stable and implement the Opinions of the State Council on Further Utilizing Foreign Investment (Guo Fa [2019] No. 23), Shandong Province hereby introduces the following measures to expand high-quality investment attraction and facilitate the sound development of foreign invested enterprises.

Pursue High-level Opening Up

1. Ease access for foreign investment. Shandong will fully implement the pre-establishment national treatment plus negative list management system for foreign investment. All restrictions that are not included in the negative list will be cancelled. In addition, Shandong will accelerate the implementation of China’s opening-up policy in financial services, and support the establishment of wholly foreign-owned enterprises in the manufacturing of special purpose vehicles, new energy vehicles and commercial vehicles (Responsible authorities: Shandong Development and Reform Commission, Department of Industry and Information Technology of Shandong Province, Department of Commerce of Shandong Province, Shandong Provincial Financial Supervision and Administration, Shandong Banking and Insurance Regulatory Bureau, Shandong Securities Regulatory Bureau, Qingdao Banking and Insurance Regulatory Bureau, and Qingdao Securities Regulatory Bureau, the first authority in the row leads the work, the same below).

2. Expand the field of foreign investment. Shandong will introduce a batch of high-quality resources, including new infrastructure construction and mixed reform of state-owned enterprises, to attract foreign investment and cooperation, and will support multinational companies in setting up headquarters and functional institutions in Shandong Province (Responsible authorities: Shandong Development and Reform Commission, Shandong Provincial Department of Finance, Department of Commerce of Shandong Province, Stated-owned Assets Supervision and Administration Commission of Shandong Provincial Government, Shandong Provincial Financial Supervision and Administration, and municipal governments in Shandong).

3. Support innovative practice in pilot free trade zones. Shandong will support wholly foreign-owned businesses in establishing for-profit education, training and vocational skills training institutions, and will carry out pilot programs related to the opening of value-added telecommunication services in pilot free trade zones (Responsible authorities: Department of Commerce of Shandong Province, Shandong Provincial Education Department, Department of Housing and Urban-Rural Development of Shandong Province, Human Resources and Social Security Department of Shandong Province, Shandong Communications Administration, Jinan, Qingdao, and Yantai Municipal Governments).

4. Accelerate the construction of opening-up platforms. Shandong Provincial Department of Finance will grant RMB 50 million in subsidies or rewards to the first batch of international cooperation parks recognized at the provincial level. The grant will be earmarked for planning and construction, investment promotion, the public service platforms for innovation and entrepreneurship and the construction of carriers for opening-up (Responsible authorities: Department of Commerce of Shandong Province and Shandong Provincial Department of Finance). For the top 10 development zones and pilot free trade zones above the provincial level ranked in terms of annual increase of realized foreign investment, Shandong will reward them with new construction land quota on a coordinative basis (Responsible authorities: Department of Natural Resources of Shandong Province and Department of Commerce of Shandong Province).

5. Deepen cooperation in key regions. Shandong will introduce 100 key cooperation projects to “make up for shortcomings and expand domestic demand”, which are geared to the needs of 52 Japanese companies among the world’s top 500 and the top 30 largest companies in South Korea. In addition, Shandong will speed up the construction of the “Weihai China-Korea Free Trade Zone Economic Cooperation Demonstration Zone”, “China-ROK (Yantai) Industrial Park”, and “China-Japan (Qingdao) Development and Cooperation Demonstration Zone”, where over 60 new Japanese and South Korean investment projects will be carried out in each zone annually (Responsible authorities: Department of Commerce of Shandong Province, Shandong Development and Reform Commission, Stated-owned Assets Supervision and Administration Commission of Shandong Provincial Government, Foreign Affairs Office of Shandong Provincial People’s Government, and municipal governments in Shandong).

Further Promote Investment

6. Build an international brand for investment promotion activities. Shandong will optimize the “Choose Shandong” cloud platform, and will hold a number of events including the “Qingdao Multinationals Summit”, “Connecting Shandong with Fortune Global 500”, and “Conference of Great Business Partners” to enhance the visibility and competitiveness of Shandong in terms of investment promotion (Responsible authority: Department of Commerce of Shandong Province).

7. Innovate ways of attracting investment. Shandong will give full play to the active role of leading enterprises in Shandong Province, introduce key links in the manufacturing sector, and will promote key cross-border M&A projects in Shandong to invest in this province. The Province will also encourage local governments at or above the county level to formulate policies and measures for the promotion and facilitation of foreign investment within their legal authorities (Responsible authorities: Department of Commerce of Shandong Province, Shandong Development and Reform Commission, Department of Industry and Information Technology of Shandong Province, Shandong Provincial Department of Finance, Stated-owned Assets Supervision and Administration Commission of Shandong Provincial Government, and municipal governments in Shandong).

8. Strengthen the mechanism of “allocating elements based on projects”. For key foreign investment projects, cities in Shandong Province may use the quota of new construction land before the state and province issue the annual land use plan. For key foreign investment projects with a total investment of more than US$50 million and over US$10 million being invested in the current year, Shandong Province will uniformly arrange new construction land quota and rewards 200 mu (about 13.3 hectares) of land quota to the city where the project is located (Responsible authorities: Department of Natural Resources of Shandong Province, Department of Commerce of Shandong Province, and municipal governments in Shandong). Such projects can apply for energy and coal consumption quota purchased and stored by the province in accordance with relevant rules, and projects in emerging industry are given a discount of no less than 20% based on the benchmark price (Responsible authority: Shandong Development and Reform Commission). All cities in Shandong will coordinate the use of total pollutant discharge quota, and they may implement pollutant reduction advances, and give priority to key foreign investment projects (Responsible authorities: Provincial Department of Ecology and Environment and municipal governments). If the energy facilities of foreign-invested enterprises must be shut down in accordance with relevant national and provincial policies, alternative plans should be provided (Responsible authorities: Energy Administration of Shandong Province and municipal governments in Shandong).

9. Increase fiscal support. For new projects in line with industrial policy guidance that have utilized over US$50 million foreign investment annually and re-investment projects with over US$30 million, the provincial and municipal fiscal authorities will reward them with a proportion of no less than 3% of the foreign capital actually used by the respective projects in the year (Responsible authorities: Shandong Provincial Department of Finance and Department of Commerce of Shandong Province). Major foreign investment projects from the world’s top 500 companies in Shandong are eligible for supportive polices in accordance with the principle of “Individual Solution” (Responsible authorities: Department of Commerce of Shandong Province, Shandong Development and Reform Commission, Shandong Provincial Department of Finance, and Department of Natural Resources of Shandong Province).

10. Guarantee the investment promotion activities abroad. Shandong will establish a “green channel” for review and approval of key delegations temporarily going abroad for investment attraction, tolerating incomplete non-principal materials and reducing the processing time to 2 working days. Overseas investment promotion activities of the national-level economic and technological development zones, special customs supervision areas, national-level new zones, international cooperation parks approved by the state, and state-owned enterprise personnel are not subject to annual quota restrictions (Responsible authorities: Foreign Affairs Office of Shandong Provincial People’s Government and municipal governments in Shandong).

Improve Investment Services

11. Improve investment facilitating measures. The registration of the establishment, the engraving of seals, the application of invoices, the registration of social and medical insurance and provident fund of foreign-invested enterprises shall be completed within one working day (Responsible authorities: Shandong Administration for Market Regulation, Department of Public Security of Shandong Province, Department of Housing and Urban-Rural Development of Shandong Province, Human Resources and Social Security Department of Shandong Province, Healthcare Security Administration of Shandong Province and Shandong Provincial Tax Service). Shandong will roll out “one-window service” for power applications among power grid enterprises (Responsible authority: State Grid Shandong Electric Power Company), and will allow online application for water and gas installation (Responsible authority: Department of Housing and Urban-Rural Development of Shandong Province). The Province will also promote “multi-test and multi-inspection integrations” for the examination and approval of project planning land use  (Responsible authority: Department of Natural Resources of Shandong Province).

12. Support the innovation and entrepreneurship of foreign high-end talents. Shandong will relax restrictions on age, education or work experience to attract urgently needed foreign innovative and entrepreneurial talents as well as professional and skilled talents. Outstanding international graduates engaging in innovative and entrepreneurial work in Shandong can apply for a residence permit for private affairs with a valid period of 2 to 5 years. High-end foreign talents are granted multiple-entry talent visas valid for 5 to 10 years, so are their spouses and minor children (Responsible authorities: Department of Science and Technology of Shandong Province, Shandong Provincial Education Department, Department of Public Security of Shandong Province, Human Resources and Social Security Department of Shandong Province and municipal governments in Shandong).

13. Increase financial support. For eligible medium, small and micro foreign-invested enterprises, banking institutions will provide temporary deferred arrangements for repayment of principal and interest through loan extensions and renewals, which can be extended to the end of March 2021 at the longest. Government financing guarantee institutions will charge a guarantee fee rate of no more than 1% for small and micro foreign-invested enterprises with a single guarantee amount of RMB 5 million or less (Responsible authorities: Shandong Provincial Financial Supervision and Administration, Jinan Branch of the People’s Bank of China, Shandong Banking and Insurance Regulatory Bureau and Qingdao Banking and Insurance Regulatory Bureau). Shandong will support the Export-Import Bank of China in providing credit support for eligible foreign investment projects and in offering loans with preferential interest rates to eligible projects (Responsible authority: Shandong Branch of the Export-Import Bank of China). The Province will also support foreign-invested enterprises in expanding the cross-border use of RMB. Foreign-invested enterprises that register for foreign debt agreements for the first time can independently choose the mode of borrowing foreign debts. Foreign-invested enterprises do not need to submit materials in advance one by one for the settlement of capital account income (Responsible authority: Jinan Branch of the People’s Bank of China).

14. Reduce the burden of corporate taxes and fees. Shandong will reduce and exempt the pension, unemployment insurance and work-related injury insurance paid by foreign-invested enterprises in accordance with relevant state regulations during the COVID-19 strike. For foreign-invested enterprises insured that have no or few layoffs, the unemployment insurance shall be returned in accordance with the regulations (Responsible authorities: Human Resources and Social Security Department of Shandong Province and municipal governments in Shandong). Foreign-invested enterprises with difficulties in their business can postpone their tax payment for a maximum of 3 months upon the approval of the competent tax authority; and can apply for deferred payment of housing provident fund according to regulations or depositing the fund in accordance with the minimum standard of 5% for unit and individual respectively (Responsible authorities: Shandong Provincial Tax Service, Department of Housing and Urban-Rural Development of Shandong Province and municipal governments in Shandong).

15. Optimize services for better living conditions. Shandong will open international clinics in eligible medical institutions, and will encourage medical institutions to cooperate with domestic and foreign insurance companies in international settlement of commercial insurance (Responsible authorities: Health Commission of Shandong Province and municipal governments in Shandong). In addition, Shandong will support cities in the Province in planning and building schools for children of foreigners, encourage eligible primary and secondary schools to set up international education courses, explore the way in which well-known foreign (overseas) enterprises can run wholly-owned schools in Shandong, and encourage Sino-foreign joint ventures and wholly foreign-owned enterprises to set up vocational colleges in the Province (Responsible authorities: Shandong Provincial Education Department and municipal governments in Shandong).

Strengthen Investment Protection Measures

16. Protect the legal rights and interests of foreign-invested enterprises. When governments and departments at all levels formulate administrative normative documents involving foreign investment, they shall solicit opinions from foreign-invested enterprises and relevant chambers of commerce and industry associations in advance, and provide references in foreign languages. It is forbidden to breach the contract on the grounds of administrative division adjustment, leadership change, function adjustment or replacement of related responsible persons. Foreign-invested enterprises enjoy equal rights with domestic-funded enterprises in terms of qualification licensing, standard setting, project application, job title evaluation, and government procurement (Responsible authorities: Department of Commerce of Shandong Province, Shandong Development and Reform Commission, Department of Science and Technology of Shandong Province, Department of Industry and Information Technology of Shandong Province, Department of Justice of Shandong Province, Shandong Provincial Department of Finance, Shandong Provincial Financial Supervision and Administration, Shandong Provincial Tax Service and municipal governments in Shandong). Shandong will also establish legal advice groups on the rights and interests of foreign-invested enterprises and improve the ability of arbitration institutions in Shandong Province to handle foreign-related cases (Responsible authorities: Department of Justice of Shandong Province, Department of Commerce of Shandong Province and Trade and Investment Service Center, China Council for the Promotion of International Trade Shandong Sub-council).

17. Optimize administrative supervision methods. Non-subjective minor violations of the law in the operation of foreign-invested enterprises shall not be subject to administrative penalties or subject to lighter administrative penalties in accordance with the law. For foreign-invested enterprises included in the guarantee list, no overall shutdown or production suspension measures shall be applied (Responsible authorities: Department of Ecology and Environment of Shandong Province, Department of Justice of Shandong Province, Department of Commerce of Shandong Province, Department of Emergency Management of Shandong Province and municipal governments in Shandong).

18. Strengthen the protection of intellectual property rights. Shandong will accelerate the construction of China (Shandong) Intellectual Property Protection Center and reduce the processing time for the electronic registration of intellectual property pledge financing to 3 working days (Responsible authority: Shandong Administration for Market Regulation). In addition, Shandong will promote the separation of complicated and simple intellectual property cases and make it easier to produce evidence by flexibly applying various evidence rules in accordance with the law (Responsible authority: High People’s Court of Shandong Province).

Improve the Organizational Security System

19. Improve the coordination service working mechanism. Shandong will establish a dialogue mechanism between provincial leaders and heads of multinational companies together with a consultation system for major provincial and municipal foreign investment projects. The Province will also expand the range of selecting “Shandong Government Economic Consultants”  and increase the number of the consultants to about 50. The consultants will be solicited for consultation opinions  once in the first half of each year and hold closed-door meetings during the “Qingdao Multinationals Summit”. In addition, Shandong will integrate the resources of foreign-related departments and optimizes the layout of Shandong government’s foreign economic and trade representative offices (Responsible authorities: Department of Commerce of Shandong Province, United Front Work Department of Shandong Provincial Committee of CPC, Foreign Affairs Office of Shandong Provincial People’s Government, Trade and Investment Service Center, China Council for the Promotion of International Trade Shandong Sub-council and municipal governments in Shandong).

20. Strengthen administrative measures for performance appraisal. Shandong will highlight the assessment of “investment and talent attraction and creation of new heights in opening up” in the comprehensive assessment of the economic and social development of each city and pay attention to the assessment of the scale and increase of the actual use of foreign capital in each city as well as investment from Japan and South Korea. The cities and development zones above the municipal and provincial level with the largest amount of foreign capital actually used and the highest growth rate in each quarter will be publicized in the major media in Shandong Province (Responsible authorities: Department of Commerce of Shandong Province, Organization Department of Shandong Provincial Committee of CPC, Publicity Department of Shandong Provincial Committee of CPC, and Shandong Provincial Department of Finance).

 

Issued by the General Office of Shandong Provincial People’s Government on August 7, 2020

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