In Sanya, Hainan Island, China the "Investment Incentives" were introduced

To further increase investment attraction efforts, innovative investment promotion models and improve the efficiency of investment promotion, the Sanya City Investment Incentive Measures (hereinafter referred to as the “Measures”) were reviewed and approved at the 105th meeting of the Executive Council of the Seventh Municipal Government, put into effect until January 29, 2023.


In accordance with the requirements of the Mer, key awards will be presented to investment promotion agencies representing large central enterprises, companies from the list of "500 largest companies in China" and "500 companies in the world."


Sanya will create special funds to encourage investment promotion agencies, which will be included in the Sanya Investment Promotion Bureau's annual budget, mainly used to support and reward investment promotion agencies. The management and use of special funds follows the principles of openness and transparency, highlighting key points, allocating special funds and focusing on actual results, and establishing a third-party evaluation mechanism for special funds.


The purpose of the award is to represent non-financial private equity projects outside Hainan Province that are in line with Sanya City's industrial planning and policies, an investment promotion agency or other institutions in Sanya City, including (but not limited to) financial media, international financial platforms, and economic and trade institutions, chambers of commerce, industry associations and unions, professional service organizations, businesses, private non-profit organizations and public organizations (excluding individuals). For the same project, only one investment attraction institution is awarded (two or more institutions are treated as a team, and one institution must be tasked in writing to handle the application procedures) and the project party must provide a confirmation letter as the basis for institutional confirmation rewards. If more than one settlement agency in Sanya City is jointly assisting the same project, the party reviewing the project designates a single agency as the recipient in the confirmation letter provided.


If the project does not provide for land use and the registered capital of the project company is up to 10 million RMB or more, the award will be awarded in two installments in accordance with the following criteria: the annual operating income of the project reaches 20 million RMB or more, 200,000 RMB will be transferred to the target to encourage investment at a time. if the number of insured employees exceeds 50 (including 50 people) within 2 years from the date of registration of the project (enterprise) or entry.


For projects that have signed a cooperation agreement, receive an annual operating income or annual economic contribution as agreed in the cooperation agreement; for projects that have not signed a cooperation agreement, the project has an operating income of over 100 million yuan, and the annual contribution to Sanya's local financial resources reaches over 5 million yuan. In accordance with the 10% contribution to the local financial resources of Sanya City in the year when the project first reaches the standard, the object of reward will be provided with a one-time investment promotion. In addition, for investment promotion projects, if the actual foreign investment on the spot reaches USD 5 million or other additional capital or more, a one-time remuneration of 1% of the capital will be granted.


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