Investment promotion event held in Shanghai

A two-day investment promotion event aimed at attracting investors to Guangzhou and the Pearl River Delta commenced in Shanghai on Tuesday.

Organized by the Department of Commerce of Guangdong Province, the first day of the event in Shanghai was attended by representatives from more than 200 enterprises, including over 60 multinational companies in Europe, the United States, Japan, and South Korea, and over 30 of the top 500 enterprises in the world.

The second day of the event in Jiangsu province is expected to attract representatives from more than 180 enterprises.

The event is offering new projects with an annual actual foreign investment amount of more than $50 million (346.3 million yuan) or capital increase projects with over $30 million in Guangdong a bonus of no less than 2 percent of the investment amount, capped at a maximum of 100 million yuan.

In addition, if the annual actual amount of foreign investment in the regional headquarters of the multinational company exceeds $10 million, about 2 percent of the investment amount will be awarded to the enterprises, capped at a maximum of 100 million yuan.

In terms of tax incentives, certain types of enterprises set up in Hengqin, Qianhai, and Nansha of Guangdong will be taxed a moderate rate of 15 percent. The individual income tax of senior executives and top technicians would also be 15 percent.