Revised policies and measures for foreign investment in Foshan released

In January 2019, Several Policies and Measures for Foshan’s In-depth Opening Up to Realize High-quality Development by Utilizing Foreign Investment was formulated and issued, which has played a significant role in promoting the effective utilization of foreign investment and cultivating a new setup of all-round opening up. In 2019, the actual foreign investment in Foshan reached 5.113 billion yuan, with a year-on-year increase of 11.8 %, which is 6.9 percentage points higher than that of Guangdong Province and 6 percentage points higher than that of the country.

Since 2020, Foshan Bureau of Commerce has made great efforts to stabilize foreign investment. From January to November, the actual foreign investment has successfully met the tasks assigned by Guangdong province. Large-scale foreign investment projects were progressed steadily, with 46 projects’ investment exceeding 10 million US dollars, involving a total investment of 4.195 billion US dollars, up 57.82% from 2019.

In order to thoroughly implement central government’s important instructions on stabilizing the basis of foreign trade and investment, comprehensively promote epidemic prevention and control and the utilization of foreign investment, persist in promoting high-quality development driven by opening up, implement the decisions and arrangements of the CPC Foshan Municipal Committee and Municipal Government on stabilizing foreign investment, further do well in the utilization of foreign investment, stabilize the scale of foreign investment, and optimize the structure of foreign investment, the People's Government of Foshan recently issued Several Policies and Measures for Foshan’s In-depth Opening Up to Realize High-quality Development by Utilizing Foreign Investment (revised in 2020).

1. Strengthen the introduction of foreign investment.

2. Increase fiscal support.

3. Enhance land use guarantee.

4. Strengthen the support of talents.

5. Increase financial support.

6. Raise the level of investment facilitation.

7. Raise the level of trade facilitation.

8. Raise the level of tax facilitation.

9. Raise the level of scientific and technological innovation.

10. Optimize the safeguard mechanism for the utilization of foreign investment.

Note: these policies and measures shall take effect from the date of issuance and will be valid until December 31, 2022.