Thanks to prosperous commercial and trade market, favorable investment environment, continuously improved transportation infrastructure and efficient services to attract and serve investors provided by the government, Taizhou has become a hotspot for investors at home and abroad to invest in Yangtze River Delta region. In addition, solid industrial foundation, rich land resources and competitive operation cost make the investment advantage in Taizhou more outstanding in Yangtze River Delta region.
Attractive Foreign Investment Destination
- Popular destination for foreign investment
Taizhou has used foreign capital in expanded areas based on unique resource advantage and active market mechanism. Foreign investment expanded from ordinary manufacturing sector to sectors of comprehensive agricultural development, environmental protection, high-tech, commerce and trade facilities, intelligent manufacturing and infrastructure. Competitive industries has continuously shifted from labor-intensive to capital- and technology-intensive ones.
- Foreign investment in Taizhou has been very active
By the end of 2016, there were 36 new foreign investment projects approved in Taizhou, a total investment of USD 1.592 billion. The total contracted foreign investment was USD 1.039 billion, up by 468.1% over the previous year. The actual use of foreign investment reached USD 337 million, an increase of 189.5%.
- Various preferential policies for investment favorable to the industrial structure upgrading and development of industrial cluster
Taizhou encourages foreign investment in high-tech, advanced manufacturing, energy conservation and environmental protection, R&D center, modern agriculture and modern service industry sectors. For foreign investment projects in the above-mentioned sectors, Taizhou has developed and implemented various preferential policies to attract foreign investments from all aspects. In addition, reward for projects invested by World Top 500 companies will be significantly increased accordingly.
Taizhou is at the forefront in attracting domestic and foreign entrepreneurship and innovation talents. In terms of the leading teams in the areas of entrepreneurship and innovation introduced to Taizhou, Taizhou will provide RMB 10 million, 8 million or 5 million funding to those teams at three different levels including international advanced, leading domestic and advanced domestic based on the assessment. A maximum of RMB 100 million funding will be awarded to mega projects consist of world-class team and top talents.
Taizhou has built entrepreneurship service center for high-level talents, providing project capital support, living allowance and housing subsidy for high-level innovative talents of various sectors. Personal income tax is exempted for award money received from Zhejiang provincial science and technology award. Advanced professional title and qualification can be conferred directly to overseas talents who meet requirements. Translated professional scientific and technological outcome in scientific research organizations and higher education institutes can be awarded to individuals in the form of shares or according to percentage of capital contribution. The award winners can be exempted from individual personal income temporarily before they get shares or dividends from their capital contribution.
- More and more famous enterprises attracted by efficient government service, sophisticated infrastructure and great hard and soft conditions chose to invest in Taizhou
According to tremendous efforts in reducing administrative examination and approval procedures, optimizing service and implementing free agent system and multi-agency joint approval green channel, Taizhou has provided more convenient and efficient administrative service for investors to start up new business or conduct innovation. According to statistics, the commitment time of 300 administrative licensing projects reach Zhejiang shortest level. The Internet + government services are innovative. Investors could proceed 37 administrative items completely online, which significantly saves investors and citizens' processing time.
- List of top ten foreign-invested enterprises in terms of investment in Taizhou (as of December of 2016)
Enterprise | Enterprise Type | Industry Category | Investment amount (USD 10,000) | Investor | Country (Region) |
Taizhou Xingyao Real Estate Development Co., Ltd. | Chinese-foreign joint venture | Real estate development | 24,452.8 | Wide Lucky Enterprises Limited | Hong Kong |
Zhejiang Supor Co., Ltd. | Chinese-foreign joint venture | Manufacture of other household metal products | 17,457.0 | SEB INTERNATIONALE S.A.S | France |
Taizhou Qihe-Tiandi Metals Co., Ltd. | Foreign-invested | Metal product manufacturing | 14,470.0 | HEFAST HOLDING CORPORATION LIMITED | Hong Kong |
Zhejiang Landrover Automobile Co., Ltd. | Chinese-foreign joint venture | Transportation vehicle manufacturing | 9,605.9 | Centurion Industries Limited | British Virgin Islands |
Wenling Yintai Hotel Development Co., Ltd. | Chinese-foreign joint venture | Real estate development | 9,305.2 | Yintai (Group) Co., Ltd. | Cayman Islands |
Wenling Yintai Shopping Mall Development Co., Ltd. | Foreign-invested | Retail | 9,287.9 | Yintai (Group) Co., Ltd. | Cayman Islands |
Zhejiang Jingang Automobile Co., Ltd. | Chinese-foreign joint venture | Transportation vehicle manufacturing | 8,985.0 | Shiji Industry Co., Ltd. | British Virgin Islands |
Wenling Taiyue Real Estate Development Co., Ltd. | Chinese-foreign joint venture | Real estate development | 8,479.5 | Yintai (Group) Co., Ltd. | Cayman Islands |
Taizhou Resources Snow Breweries | Foreign-invested | Beverage manufacturing | 7,200.0 | China Resources Snow Breweries | Hong Kong |
Wenling Hanyang Resources Power Co., Ltd. | Foreign-invested | Producer and supplier of power and heating | 6,465.1 | Hanyang Investment Holding Co., Ltd. | Hong Kong |
