Shaoxing Settlement Policy 2023

(1) Increase the attractiveness of advanced manufacturing projects. For advanced manufacturing projects with a total foreign investment of more than $654.38 billion (inclusive) and the actual utilization of foreign investment of more than $3 million (inclusive) in the first year, in accordance with the spirit of "Several Measures on Further Attracting and Utilizing Foreign Investment" (Zhejiang Zhengban [2023] No.22), within the validity period of the policy, the provincial finance will reward each year according to 3% of the actual utilization of foreign investment in that year, and the accumulated amount will not exceed 200 million yuan; For foreign-invested enterprises to implement technological transformation by means of capital increase or profit reinvestment, if the actual utilization of foreign capital in that year is more than $3 million (inclusive), the provincial finance will reward and supplement it according to 3% of the actual utilization of foreign capital in that year, with a total amount not exceeding 200 million yuan. On the basis of provincial financial incentives, all districts and counties (cities) will reward major foreign-funded manufacturing projects with foreign investment of over US$ 30 million in that year in accordance with Several Policies to Encourage and Support the Development of Open Economy (Shao Zhengban Fa [2023] No.5, hereinafter referred to as the Municipal Policy), and reward them at 3% of foreign investment in that year, and increase the attractiveness of major service projects to individual projects. For high-tech service projects that actually utilized foreign capital of more than $6,543.8 billion (inclusive) in that year, the provincial finance will reward and supplement them according to 1% of the actually utilized foreign capital in that year, and the accumulated amount within the policy validity period will not exceed 65,438.8 billion yuan; For other foreign investment projects in the service industry with the actual utilization of foreign capital of more than US$ 6,543.8 billion (inclusive) in that year, the provincial finance will give prizes according to 7%o of the actual utilization of foreign capital in that year, and the accumulated amount within the policy validity period will not exceed US$ 6,543.8 billion. Not more than 30 million yuan in that year. On the basis of provincial financial incentives, all districts, counties (cities) will reward major foreign investment projects in the service industry (excluding real estate, financial industry and similar financial industry projects) with actual utilization of foreign capital of more than $50 million in that year according to municipal policies, and a single project will not exceed $30 million in that year. (3) Increase the attractiveness of headquarters projects of multinational corporations or Fortune 500 companies. For multinational companies or Fortune 500 enterprises that invest in Zhejiang and set up functional institutional projects such as independent accounting regional headquarters or foreign R&D centers, within the validity period of the policy, the provincial finance will reward and subsidize 3% of the actual utilization of foreign capital in that year every year, and the cumulative amount will not exceed 50 million yuan (the headquarters of Fortune 500 enterprises in China do not enjoy this policy). On the basis of provincial financial incentives, all districts and counties (cities) will reward major foreign-funded projects such as the headquarters of multinational companies or regional headquarters with foreign capital exceeding100,000 dollars in that year according to municipal policies, and a single project will not exceed 30 million yuan in that year.