Investment Policies

Date: 2016-01-18, Source: , Total Visits :

Provincial-Level Pilot Reform Project of International Trade in Linyi

During the 139th executive meeting of Shandong Provincial People’s government, The Overall Plan for Pilot Reform Project of International Trade in Linyi Trading Complex is approved to actively carry out pilot reform of international trade in Linyi Trading Complex, set up provincial policy support system and support the development of international trade in Linyi Trading Complex.   

Business attraction has been the lifeblood of the city government who take great pains to facilitate. Through further optimizing the investment environment, perfecting the incentive policies, the local government strives to expand the channels of investment attraction, such as raising business through business, authorized investment, intermediary investment etc. To promote investment, Linyi is making great efforts to develop itself into a promising land for businessmen to invest by creating a favorable environment of friendliness and security and enriching the business people. Favorable environment in Linyi has been the strongest soft power and the most glorious city card.

Convenient Customs Clearance Policy of Linyi Trading Complex

The Reply of the General Administration of Customs on Customs Clearance Method of Export Products from Linyi Trading Complex (Shu Jian Han [2012] No.503) clearly indicates that before the “market purchasing” mode of trade is formally confirmed, customs declaration in Linyi Trading Complex is allowed to be done in way of “tourism purchasing products (0319)” according to the Operation Supervision of Import and Export in Yiwu Small Commodities City (Trial) (Shu Jian Fa [2007] No.279). The policies of tax refund and foreign exchange settlement are not adopt to those small batch orders or tourism goods worth less than 50000 US dollars which are purchased by foreign buyers with carry-on foreign exchanges or consigned outside China by entrusted domestic enterprises. Catalogue simplification applies to purchases with more than 10 kinds of goods in one shipment.

Convenient Inspection and Quarantine Policy of Linyi Trading Complex

The document of General Administration of Quality Supervision, Inspection and Quarantine of People’s Republic of China (AQSIQ) on supporting the development of international trade in Linyi ( Guo Zhi Jian Tong [2012] No.824) provides 21 supportive policies in 7 aspects, such as supporting Linyi Trading Complex to try out inspection and supervision system for export products from the market, establishing inspection and supervision responsibility system, setting up quality & safety traceability system, improving the supervision of business entities of export products, exploring the establishment of fast-track customs clearance mechanism, promoting the establishment and improvement of inspecting and technical service system and providing help for local government to establish and improve the quality and safety responsibility system.

International Trade Service Policies of Linyi Trading Complex

According to the government files on improving the service system of Linyi Trading Complex for international trade, we will adopt the following policies:  

1. Strengthen fiscal support. A special fund of 10 million yuan will be allocated to support the markets, business dealers and foreign trade enterprises to do international trade; Goods cleared from Linyi Customs in the model of “tourism goods” will be subsidized 500 yuan/TEU; Expenses to explore the international market such as international exhibition booth fee, exported goods certificate, overseas trademark registration, and advertisement in foreign media will be given full subsidy; 50% subsidy will be given for Export Credit Insurance.  

2. Strengthen tax support. Value-added tax, urban construction tax, and education surcharges will be exempted for the goods cleared and exported in the model of “tourism goods”. For small enterprises with a taxable income of less than 60,000 (including 60,000), 50% of the income is considered taxable, and they will enjoy a corporate income tax rate of 20% till the end of 2015. The taxation bureau will collect tax for foreign trade enterprises according to the accout book.  

3.Set up trust account for export tax refund. The city finance will arrange 200 million yuan as special guarantee fund for export tax refund and deposit to Commercial Bank, which will provide special tax refund loans with lower-than-benchmark lending rate to enterprises. The enterprise opens a trust account for export tax refund in designed bank, and applies for special export tax refund loans with all the necessary papers after customs clearance. The export enterprise declares tax refund as usual and the state taxation bureau will refund the export tax to its trust fund so that it can repay the loans from the bank. This will be applied to all the foreign trades enterprises in the city.  

4. Better foreign-related services. We will further improve our services in Linyi Port, and set up international trade service center as well as purchaser service center and build international trade service platform of Linyi Trade Complex. We will construct container yard, and cooperate with export enterprises, ports and shipping companies to increase the utilization rates of container truck. We will also coordinate with port cities such as Qingdao and Rizhao to open green channels for exported goods, lower the fees or trucks with import and exported goods, and exempt container trucks with customs seals from inspection.

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