BIZCHINA / Policies

Preferential policy Of Zhengdong New District, Zhengzhou, China
Updated: 2006-05-17 09:20

1. 15% discount shall be given as preferential treatment for items that pay fully for the price of the transacted land one time.

2. For items over 0.1 billion RMB Yuan and of credit no less than AA degree, the required full payment for the transacted land can be paid off for 30% before due item starting, 30% under construction and 40% when the item is completed before using. The land use certificate shall be granted after the price of the transacted land being put up. Generally, the maximum term of instalment of the price of the transacted land shall be 3 years, and no more than 5 years.

3. After being approved by the Municipal Land-using Competent Subgroup, the following items serve the turn ¡°One Affair, One View¡±:

(1) The items of both the World Top 500 Corporations and the transnational corporations that are to establish regional headquarters or branches or items of research development, purchase and distribution in the New District etc.;

(2) The items of lump-sum investment over 30 million USD or 0.3 billion RMB;

(3) The items of symbolic construction and large size public services facilities.

4. The land use of items of chain business, IT industries, logistic industries, fairs & exhibitions, large scale entertainments, tourism services being invested by famous international credited corporations with creative management ideas and advanced management means can be ¡°zero cost¡± after being approved by the Municipal Land-using Competent Subgroup and paying some deposits in advance.

5. All real estate enterprises being qualified over 2 Degree can operate in the new district. Their qualifications only need to be registered with the competent organs and no extra-approval or examination is required.

6. For construction items having paid 30% of total price of the transacted land and corresponding main construction works have been over the ground and the total completed investment has been no less than 25% after being checked and approved by the municipal competent organs, the Presale Permits Certificate can be granted and the total sum of presale shall be no more than the real completed investment.

The new district shall implement ¡°Integrated Service, One-Time Check and Approval, One Window Service¡± to simplify the procedure and improve the efficiency. Competent organs of all levels shall not enter the new district to conduct any inspection or check without permission of the Administrative Committee of Zhengdong New District.

Employees of over sea-investment enterprise and foreign nationality enjoy the National Treatment and are equal as the employees of domestic business and domestic residents in consumption of water, gasses and heat, house-purchasing, hospitalisation, schooling for children and tourist service so on.

The immigration (including foreign personnel) that achieves prominent contributions to new district development and construction shall be awarded with ¡°Honourable Citizen¡± title.

(For more biz stories, please visit Industry Updates)