Pingtan's preferential policies & measures to support local Taiwan business people

The following preferential policies and measures were formulated in accordance with the laws and regulations on protecting rights and benefits for Taiwan residents doing business in the Pingtan Comprehensive Pilot Zone.

Preferential finance and taxation policies

1. Newly-settled Taiwan-invested enterprises that are on the list of encouraged industries and meet relevant requirements of the pilot zone will receive differentiated rewards in accordance to its industrial classification within five years since the year of the enterprise's first local tax payment.

2. Eligible Taiwan-funded financial institutions (including headquarters or regional headquarters of financial institutions with equity participation of Taiwan capital) that register in Pingtan, which have an annual local taxation of more than 1 million yuan ($160,800) and have been in operation over one year, will be rewarded 50 percent of the proportions of tax payment divided by local financial authorities and will be provided with a one-time award according to its registered capital in the zone.

3. New Taiwan-invested enterprises in the zone, within five years of industrial and commercial registration, will be exempt from a portion of regional administrative charges.

4. Fujian will provide premium and interest subsidies for the financing of Taiwan-invested new and high-technology enterprises that are insured under export credit. In addition, the zone will provide additional subsidies for the premium and interest of financial institutions that enjoy preferential policies. In addition to provincial risk control subsidies given by credit guarantee institutions for financing of Taiwan-invested enterprises, the zone will provide additional risk compensation on the basis of provincial subsidy standards.

Preferential policies for land and sea usage

5. The land for newly-settled Taiwan-invested enterprises in the zone will be transferred through "bidding, auction and quotation" at cost price with a percentage reduced from the minimum price for industrial use. The procedure shall be in accordance to land classifications, and the payment deadline for land transfer fees can be extended to two years.

Lands transferred to high-tech projects can enjoy preferential conditions, but the land shall not be further transferred. Newly-housed Taiwan-invested enterprises, within three years of registration with local industrial and commercial supervision authorities, are exempt from local sea usage fees.

6. Standard factory buildings, office buildings and supporting living houses built by the zone will be transferred to Taiwan-invested enterprises at the cost price, but they shall not be transferred or rented within 10 years; if the facilities are to be rented by Taiwan-invested enterprises, rental subsidies will be given for five years.

Preferential policies for talent recruitment

7. Senior Taiwan managerial staff and professional technicians working in the pilot zone (including talents in the sectors of culture and education), who meet the requirements of the zone’s talent introduction measures and have paid personal income taxes of 50,000 yuan or more, will be given housing allowances and rental subsidies in accordance to personal income taxes paid by local standards.

8. Taiwan high-caliber talents – in scientific research and technical development, economic and financial management, higher education and training, and modern service and manufacturing – who meet the requirements of the zone’s talent recruitment, will be provided with public rental housing. They will also be given priority in their first purchase of commercial houses with a ceiling price.