Introduces subsidies for foreign investment in manufacturing and services in selected regions

On 9 May 2024, the provincial Government of Guangdong announced a new policy to attract FDI, offering rewards of up to approximately $21 million to eligible foreign investment enterprises. Under the policy, which is due to last until 2027, foreign investment enterprises established in Guangzhou, Shenzhen, Zhuhai, Foshan, Dongguan, and Zhongshan will receive rewards if their annual total actual foreign investment reaches $ 50 million or more. High-tech manufacturing enterprises will be eligible for rewards of up to 3 per cent of the total actual foreign investment. In comparison, other manufacturing and high-tech service enterprises can receive rewards of up to 2 per cent, and other industries up to 1 per cent. Moreover, regional headquarters registered in Guangzhou, Shenzhen, Zhuhai, Dongguan, Foshan, and Zhongshan with annual total actual foreign investment of over $10 million, and those in the other 15 cities with investments exceeding $5 million, will be granted a one-time reward of $ 6.9 million each.

• Type:

  • Promotion and facilitation (Investment incentives)

• Industry:

  • Manufacturing
  • Services

• Sources:

  • Government of Guangdong in China, https://com.gd.gov.cn/attachment/0/549/549176/4420453.pdf, 13 May 2024
  • lwxsd, The maximum reward is 150 million yuan Guangdong increases efforts to attract foreign investment, http://lwxsd.com/pcen/info_view.php?tab=mynews&VID=51442, 14 May 2024
  • macaonews, Guangdong woos overseas manufacturers with subsidies of up to 150 million yuan, https://macaonews.org/news/greater-bay-area/guangdong-foreign-investment-subsidies-manufacturers-china/, 13 May 2024