It has been learnt from municipal departments that Guangzhou will be give the green light to the headquarter enterprises to drive its construction of "Capital of Headquarter Economy". Policies on settlement threshold, finance and taxation and so on have been drafted in details. Among others, a maximum of 50 million Yuan will be awarded in lump sum to the enterprises that are registered and established in Guangzhou and are identified as headquarter enterprises in and after 2010.
According to the set policies, all the headquarters or branches of "Fortune 500", China's Top 500 Enterprises or China Top 500 Private Enterprises can apply for Guangzhou's Headquarter Enterprises. Once identified, a lump sum of no more than 50 million Yuan will be awarded. And high incentives will be also considered in light of the performances of the enterprises every year thereafter.
Guangzhou Municipal Development and Reform Commission clearly explained the cognizance procedure for "Headquarter Enterprise". According to the Cognizance Requirement and Standard on Guangzhou's Headquarter Enterprise, the headquarters or branches of "Fortune 500" enterprises published by the American Fortune Magazine, the MNC regional headquarters cognized by or accredited with Ministry of Commerce, China's top 500 enterprises or China's top 500 private enterprises that meet the requirement of "registered and established in Guangzhou(including its subordinate districts and county-level cities), independent corporate capacity and investing or managing with authorization no less than 3 enterprises inside and outside China for which they have management and service functions (finance industry excluded)" can all apply for the cognizance as Guangzhou's Headquarter Enterprise.
Meanwhile, Guangzhou Municipal Development and Reform Commission specified the cognizance standards on headquarter enterprises for 15 industries, including finance, transportation, warehousing and postal services, wholesale and retail trade, catering industry, industry, construction, and real estate. The above said industrial standards include the 3 standards on operating revenue, general assets and total tax. Enterprises satisfying one of the 3 standards can apply for cognizance of Guangzhou's Headquarter Enterprise.
It is learned that the application for Guangzhou's Headquarter Enterprise will be carried out once a year. And the first batch of headquarter enterprises will be released by the end of the year.
(Translated by Guangzhou Association of Foreign Affairs Translators)
