In order to enlarge the opening to the outside world and facilitate the introduction of foreign investment, the government hereby put forward the following suggestions over further optimizing the soft environment of foreign investment and business operations, according to the overall requirements prescribed by CCP Jiangxi Provincial Committee for emancipating the mind and accelerating the economic development.
1. Annul the policies, rules and regulations inappropriate to the present new situation. The Legal Affairs Office of the Provincial Government would take the lead in sorting out the rules and regulations concerned, and General Office of the Provincial Government in sorting out the official documents issued by Jiangxi Provincial People's Government. The Provincial Foreign Economic and Trade Department has the responsibility to compile the foreign-related policies, rules and regulations which have already been sorted out into books before 2002, and provide them to the investors for free. Any new policies, rules and regulations from the State or Provincial Government must be publicized to foreign-invested enterprises through the relevant channels and Internet.
2. The Provincial Government must stop, from August, 2001, any examination or approval of the items concerning the foreign-related charges. It s required that prior to the end of September, 2001, the financial and pricing authorities of the province must check up, according to law, all the items concerning the foreign-related administrative charges across the province and annul the unreasonable ones. Then the catalogue of uniform foreign-related administrative charges must be worked out and publicized through media. Besides, the financial and pricing authorities of the province must implement the system of charging license, collector license, charging registration and supervision card throughout the province before 2002. According to which, it is required that the uniform receipt from the financial authority of the province specially for the foreign-related administrative charges be issued, and the system of governmental charging authority to be strictly separated from the receiver executed.
3. Further remove the restrictions on investment, encourage and attract more foreign or offshore investors to participate in the capital construction, such as expressways, national or provincial highways, electric network update and also the construction or business operation of urban public facilities and scenic resorts just in the forms of exclusive investment, joint investment and cooperative business operation. Encourage foreign businessmen to participate in the logistics industry and the construction of public welfare establishments, including the educational, cultural, hygienic, sports and social welfare undertakings; encourage and assist the foreign businessmen to graft and transform the state-owned enterprises in different ways of purchase, merge, combination and reorganization; encourage the foreign businessmen to participate in the farm production, fish breeding and poultry raising, and processing of farm and sideline products; encourage the foreign businessmen to cooperate with Chinese partners and take the form of corporate organization of non-judicial person to explore the mineral resources in short supply and to exchange miner's right for prospector's right.
4. The offshore and foreign enterprises or individuals who invest in Jiangxi are permitted to subscribe the capital in RMB with the profits from enterprises invested by them in China or with the funds financed by them. They are permitted to register with reference to the standard for foreign-invested enterprises; the foreign-invested enterprises that have already invested in Jiangxi are permitted to register as domestic-funded enterprises.
5. The land to the foreign-invested enterprises by non-administrative allotment will be exempted, during the construction period set in the project design, from rental or assignment fee. The farmland for the invitation of businessmen to set up companies in the counties (or districts) and cities will be exempted from farmland reclamation fee, provided that an additional farmland has been supplemented and it proves to maintain a balance between the occupied and supplemented farmland upon examination.
6. The foreign-invested enterprises within the boundary of Jiangxi province, which are included in the category of establishments encouraged by the State, will pay, subject to the approval, the enterprise's income tax only at a tax rate of 15% within 3 years after the expiration of current preferential treatment policies specially for enterprise's income tax. Simplifying the office procedures, improving the working efficiency and constructing an open, fair, honest and highly efficient administrative environment
7. Every foreign-related governmental department must formulate the "Office Guidelines" prior to the end of 2001, indicating the major duties, office procedures, materials required, proceeding time-limit, charging standard, persons in responsible position, phone call for contact and other necessary contents, and publicize them at the office for the investors' inquiries.
8. The power of examination and approval over the project application and feasibility study report of capital construction and technical update with foreign investment will be delegated wholly to the municipality-level, provided that they are within the limits of authority at provincial level for examination and approval and in conformity with the state or provincial industrial policies, but no need of balance funds and construction conditions from the province. The examination and approval over the project application and feasibility study report will be combined into a single process, instead of the double process, and the experiments over the change of examination and approval system into registration system will be conducted promptly at selected points.
9. The power of examination and approval over the project application, contract and articles of association will be delegated to the municipality-level, provided that the foreign investment in the project is no more than USD30 million, and the Approval Certificate to foreign-invested enterprise will be filed on record subsequent to the process of examination and approval, instead of prior to the examination and approval.
10. The pretax deductions related to the income tax of foreign-invested enterprise will be wholly placed under the control of local national taxation admini-strative authority. The power of national taxation bureaus of municipality-level to examine and approve the pretax deductions regarding the loss on business property will be relaxed to an extent of RMB 2 million yuan from the original RMB 500,000 yuan. The power to control the tax reimbursement for export will be delegated to national taxation bureaus of the municipality-level, provided that the tax reimbursement for export is no more than RMB 1 million yuan to the foreign-invested enterprise.
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