Policy in Different Zone for WOFE

Since reforming and opening, China has taken an overall strategy that it gradually move from inland to coast , the current economic special zone types include:-

  • 1.  SEZs:  Shenzhen, Zhuhai, Xiamen, Shantou, Hainan and Shanghai Pudong New Area.
  • 2.  Coastal opened cities: Shanghai, Tianjin, Dalian, Qinhuangdao, Yantai (including Weihai), Qingdao, Lianyungang, Nantong, Nanjing Wave, Wenzhou, Fuzhou, Guangzhou, Zhanjiang, Beihai, a total of 14.
  • 3.  National Economic and Technological Development Zone of 49 zones and 5 countries that enjoy the state-level economic and technological development zone policies, industrial parks, that are found in the provinces, municipalities and autonomous regions.
  • 4.   National Hi-Tech Industrial Development Zone of 53 zones that are found in all provinces, municipalities and autonomous regions.

According to the western development strategy, it encourages investment including foreign investment from inland to the central and western regions, the foreign investment policy measures include:-

  • (1)   "Midwest Industrial Catalogue for Foreign Investment" for those listed out in the project and enjoy the policy of encouraging foreign investment projects.
  • (2)  The western region for foreign investment in infrastructure and advantageous industrial projects, appropriate relaxation of foreign investment restrictions equity ratio.
  • (3)  To encourage foreign investment in the western region's agriculture, water conservancy, ecological, transportation, energy, municipal, environmental, mining, tourism and other infrastructure construction and resource development, and the establishment of technology research and development center.
  • (4)   Expansion of the western region for opening up trade services:-   For the banks of foreign pilot that expanded to municipalities, provincial capitals and autonomous district capital city; allow foreign banks to gradually western region to conduct RMB business; allow foreign investment in the western region in accordance with relevant rules which require the investment telecommunications, insurance, tourism, set up joint venture accounting firms, law firms, municipal utility companies and others that have committed to open the field of enterprise; opening up of a number of areas, allowing the first pilot in the western region .
  • (5)   Expanding the foreign channels:-  Allow foreign investment in the western region BOT, TOT way pilot ; allow foreign-funded projects including RMB project financing ; support qualified foreign-invested enterprises in the western regions, inside and outside the stock market city ; support the western region that are encouraged and permitted industrial enterprises through the transfer of management rights, transfer of stock, mergers and re-groups and other ways to attract foreign investment ; actively explore joint industry funds, venture capital funds and introduce foreign investment.
  • (6)   To encourage the establishment of foreign-invested enterprises to re-invest in the western region, it should be in the proportion of foreign capital reinvestment projects for more than 25%, it enjoys the benefits of foreign investment enterprises.