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Transcript of China Go West
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8/4/2019 China Go West
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Go West
Andy DengAssistant Manager, Tax
KPMG
July 2011
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8/4/2019 China Go West
2/26
2011 KPMG Advisory (China) Limited, a wholly foreign owned enterprise in China and a member firm of the KPMG network of independent member firms
affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved. Printed in China.1
Contents
Perspectives on current Western China1
2
Introduction of incentive policies3
Tips for your investment in Western China4
Perspectives on future Western China
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3/26
2011 KPMG Advisory (China) Limited, a wholly foreign owned enterprise in China and a member firm of the KPMG network of independent member firms
affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved. Printed in China.
Overview - Western China
Western China
2001 2009Growthrate of
Volume
Growthrate of
proportion
Volume(RMB
billion)%China
Volume(RMB
billion)%China
GDP 1,824.8 17.1% 6,686.8 19.9% 266% 2.8%
Total Investment of fixed assets 715.8 19.8% 4,966.2 22.1% 594% 2.3%
Total import and export volume 16.8 3.3% 91.5 4.1% 445% 0.8%
Total retail consumption sales 659.1 16.8% 2,303.9 18.4% 250% 1.6%
Western China
Significantgrowth
SourceWebsite of China Statistic Bureau / China Development and reform committee
2
Iterm Amount %China
Nunmber of Provinces /municipalities
12 35.3%
Land area 6.87 million km2 71.5%
Population 360 million 27.9%
Board Region
RemarkableAchievement
HugePotential
Hot Place forInvestment
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2011 KPMG Advisory (China) Limited, a wholly foreign owned enterprise in China and a member firm of the KPMG network of independent member firms
affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved. Printed in China.
Comparision between Western and Eastern China
Western China
Eastern China
Tremendous potential markets
The investment environment /infrastructure needs to be improved
Needs of local development
National policies support
Low operating cost
Abundant natural resources
Talent supply
High internationalization
High operating cost
Intense market competition
Perfect investment environment /infrastructure
Mature market
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8/4/2019 China Go West
5/26 2011 KPMG Advisory (China) Limited, a wholly foreign owned enterprise in China and a member firm of the KPMG network of independent member firms
affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved. Printed in China.
Pros and Cons of Investment in Western China
Policy Advantage
Strategy of Western China Development
The Guidelines on the shift of industry tothe central and western areas issued byState Council
The preferential policies set by localgovernments on investment
Market Advantage
Opportunity of industrial shift:
through shifting of the industriesfrom Eastern Area, it helps WesternAreas to enlarge the size ofindustry and speed up theadjustment of industrial structure
Low operating cost: procurementcost, energy cost, and labour costare relatively low
High market potential: consumermarket
Resource Advantage :
Mineral Resources: above 60% of mineral
resources located in Western China, such astombarthite, phosphor, nickel, vanadium.Mineral advantages are very obvious
Energy Resources: the energy resourcesdiscovered in Western China occupy nearly57% of total energy resources of China. Theresources like water power, oil and gas areabundant
Land resources: the land area of 12provinces / municipalities accounts for
above 70% of the total land area of China
Human Resource/TechnologyDisadvantage
Human Resource disadvantage:comparing to eastern developed area, theeducation level of western area is laggingbehind. It is little difficult to attract high-
quality talents. High level talented personappeared seriously drained
Technology disadvantage: Insufficientcapability of technology R&D andinnovation; Fewer R&D centres located inWestern Area; Shortage of high-techtalents
Market Disadvantage
Majority of industries are smallsized with low economic of scale
Majority of industries lackcomplete industry chains
Lower average GDP and limitedpurchase power
Environment Disadvantage
Natural Environment: Western China hasextensive land area with complex climates.The natural environment of Western Chinais complex and has seasonal sandstorm,landslide and mud-rock flows
Investment Environment: standard ofinfrastructure facilities, public informationplatform, intermediate service agents needto be improved. Quality of governmentservice need to be enhanced
4
Resource
Policy
Market
Environment
Talent /Technology
Market
Pros
Cons
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affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved. Printed in China.
Encouraged Industries for Investment in Western China
Source: Catalogue of Encouraged Industries for Foreign Investment in the Central and Western Regions (2008)
Locations Encouraged Industries for Investment
Agriculture Autos EducationEnvironmentalprotection
Industrialproducts
Naturalresources
NewEnergy
Pharmaceutical InfrastructureIT /Telecom
Tourism
Chongqing
Sichuan
Shaanxi
Yunnan
Guangxi
Guizhou
Xinjiang
Tibet
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affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved. Printed in China.
Economic Zones and Key Industries
Guangxi Beibu Gulf Economic Zone
Key Industries: High technology Light industry and food Logistics Marine Metallurgy Paper making Petrochemical
Guanzhong Tianshui Economic Zone
Key Industries: Aviation and aerospace Equipment manufacturing Finance Logistics Resources processing
Chengdu Chongqing Economic Zone
Key Industries: High technology Equipment manufacturing Science research and industry on nationaldefense
Resources processing Agricultural processing Modern services industry Logistics
Kashi Special Economic Zone
Key Industries: Infrastructure Agriculture High technology Petrochemical Finance Logistics Tourism
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2011 KPMG Advisory (China) Limited, a wholly foreign owned enterprise in China and a member firm of the KPMG network of independent member firms
affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved. Printed in China.
Whats new investment environment
Cities Items State Notes
Chengdu
Leshan Port Is being built (2011) The biggest inland port in the upper reach of theYangtze River
Jintang Internationalairport
2013~2016The 2nd airport of Chengdu (similar to Shanghai Pudong airport )Annual passenger throughput: 80 million
Hi-tech IntegrativeBonded Area
Completed in Oct2010
Special custom supervision zone with full functions
FinancialHeadquartersBusiness Zone
Is being built (2011) Finance, Business, Administration Zone
Chongqing
3rd runway ofJiangbei Airport
Is being built (2011) Annual passenger throughput: 50 million
Liangjiang New AreaCompleted in Jun2010
One of 3 state-level Economic Development Zones in China(after Shanghai Pudong Area, Tianjin Binhai Area)
Xiyong IntegrativeBonded Area
Completed in Feb2010
The biggest comprehensive bonded area in China
XianBonded LogisticsCenter (Type B)
Completed in Apr2010
The 1st state-level bonded logistics center in Northwest China
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2011 KPMG Advisory (China) Limited, a wholly foreign owned enterprise in China and a member firm of the KPMG network of independent member firms
affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved. Printed in China.
Cities CompanyTime toinvest
Line ofbusiness
Notes
Chengdu
Maersk Oct 2009 Logistics Biggest back office worldwide
Prologis Aug 2008 Logistics Invested capital: USD50 million
TexasInstruments
Oct 2010 IT First invested capital: USD275 million
TOKYO-MITSUBISHI
Oct 2010 Bank Registered capital: RMB100 million
Foxconn Oct 2010 IT Total invested capital: USD10,000 million
Volvo Oct 2010 Automanufacturing
Research Center, total invested capital: RMB 5,540 million
Chongqing
Citibank Dec 2009 Bank The 9th branch in China
Foxconn Aug 2008 IT Total invested capital: USD1,000 million
Ford & Mazda Sep 2010Auto
manufacturingTotal invested capital: USD750 million
NOL Sep 2010 Logistics Global service center
Xian
NanguangGroup
Nov 2010 Tourism, Hotel Total invested capital: USD1,500 million
EVOC Group Oct 2010 IT R&D Centertotal invested capital: RMB 500 millionMicron
TechnologyMar 2010 IT Total invested capital: USD300 million
Whats new newly established large-scale enterprises
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2011 KPMG Advisory (China) Limited, a wholly foreign owned enterprise in China and a member firm of the KPMG network of independent member firms
affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved. Printed in China.
Taipei
Qingdao
Famous Enterprises in Western and Eastern China
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8/4/2019 China Go West
11/26
2011 KPMG Advisory (China) Limited, a wholly foreign owned enterprise in China and a member firm of the KPMG network of independent member firms
affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved. Printed in China.
Contents
Perspectives on current Western China1
2
Introduction of incentive policies3Tips for your investment in Western China4
Perspectives on future Western China
10
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8/4/2019 China Go West
12/26
2011 KPMG Advisory (China) Limited, a wholly foreign owned enterprise in China and a member firm of the KPMG network of independent member firms
affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved. Printed in China.
What are the plans for Western China?
Western DevelopmentConference
The implementation ofWestern Development
Policy
The Guidelines onthe shift of industryto the central andwestern areas issuedby State Council
12th 5-yearDevelopment
Plan
Years 2001 to 2010 July 2010 September 2010 Years 2011 to 2015
Preferential taxpolicies
Preferential landpolicies
Mineralresourcespolicies
Relaxing theconditions forforeigninvestment
Emphasize thepriority of theWesternDevelopment inregionaldevelopmentstrategy
Expectation ofNew 10-year
on the WesternDevelopment
Developcompetitiveindustries inaccordance withlocal conditions
Centralize theindustrial layout
Keep focus onWesternDevelopment
Special policysupporting
Strengthen theinfrastructureconstruction
Various supportto develop theencouragedindustries
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2011 KPMG Advisory (China) Limited, a wholly foreign owned enterprise in China and a member firm of the KPMG network of independent member firms
affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved. Printed in China.
City scale:
Total population: 31 million (2020)
Available constructive area: 865 km2
(2020) Industry orientation:
Morden service/industries, Hi-tech, 2-Base & 10-Industrialclusters
Financial environment:
International financial center in Liangjiang New Area (2020)
City scale:
Total population: 10 million (2020)Available constructive area: 800 km2 (2020)
Industry orientation:
Aerospace, IT, automobile, tourism, logistics
Financial environment:
Backstage service centre of financialinstitutions, finance outsourcing
Transportation & logistics:
Highway network around Xian (2020)
City orientation:
Core city in northwest of China
City scale:
Total population: 15 million (2020)
Available constructive area: 660 km2
(2020) Industry orientation:
New material/energy, Hi-tech, petrifaction, automobile
Financial environment:
Regional financial centre. 200 financial institutions and13 foreign banks (2012)
Transportation & logistics:
Largest railway hub logistic zone in China
City orientation :
International modern and idyllic city (the core city ofcentral and western China with the best investment /living environment)
What are the plans / orientations for western cities?
Chengdu Xian
Transportation & logistics:
Largest bonded zone in China
Largest airport in Central and Western ChinaHub of railway
City orientation:
International and modern city; Economic centre in theupstream of Yangtze river; Modern manufacture base;International dock city
Chongqing
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2011 KPMG Advisory (China) Limited, a wholly foreign owned enterprise in China and a member firm of the KPMG network of independent member firms
affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved. Printed in China.
Contents
Perspectives on current Western China1
2
Introduction of incentive policies3Tips for your investment in Western China4
Perspectives on future Western China
13
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15/26
2011 KPMG Advisory (China) Limited, a wholly foreign owned enterprise in China and a member firm of the KPMG network of independent member firms
affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved. Printed in China.
Preferential Policies - Level
China
ChengduChengdu Hi-tech
District
Chongqing
Chongqing
Liangjiang New Area
Xian Xian Hi-tech District
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2011 KPMG Advisory (China) Limited, a wholly foreign owned enterprise in China and a member firm of the KPMG network of independent member firms
affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved. Printed in China.
Western Development Policy (WDP)Effective from 2001 to 2010 (will be extended but with changes)
Extracts from policies are for your reference only.
15
Items Type Details
WDP
Tax
Encourage enterprises: 15% Corporate Income Tax (CIT) rate v.s. 25% general CIT rate Newly established transportation, electric power, hydraulic power, mail, broadcast and
television enterprises: tax holiday of 2-year exemption and 3-year 50% tax reduction Qualified project under encouraged catalogue: Customs Duty exemption for self-used
equipment
Land Land transfer fees for qualified project can be reduced or exempted
Mineral Resources Fees of mineral exploration and mining for qualified project can be reduced or exempted
Relax theRequirements forUtilizing ForeignCapital
Business time limit of qualified project can be extended to 40 years v.s. general 30 years The registered capital of qualified enterprise can be loosed up to RMB30 million v.s. general
RMB50 million
New 10 yearExpectancy
15% preferential CIT rate Resource Tax reform
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2011 KPMG Advisory (China) Limited, a wholly foreign owned enterprise in China and a member firm of the KPMG network of independent member firms
affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved. Printed in China.
Preferential Taxation Policies - China
Target Scope and Criteria Detailed Preferential Taxation Policies
ServiceOutsourcingIndustry
Applicable to 21 service outsourcing sample cities: Beijing,Tianjin, Dalian, Harbin, Daqing, Shanghai, Nanjing, Suzhou,Wuxi, Hangzhou, Hefei, Nanchang, Xiamen, Jinan, Wuhan,Changsha, Guangzhou, Shenzhen, Chongqing, Chengdu,Xian
Scope of Service Information Technology Outsourcing (ITO) Business Procedures Outsourcing (BPO) Knowledge Procedures Outsourcing (KPO)
From 1 Jul 2010 to 31 Dec 2013, following preferentialtaxation policies will be implemented: Reduced CIT rate at 15% Business tax on service income derived from
overseas service outsourcing are exempted The amount of staff education expense incurred no
more than 8% of total salary expense is deductiblefor CIT purposes, any exceeding portion can becarried forward
High-TechEnterprise
Own IP rights on the core technology of its main product sor services
Product or service belongs to the scope of State SupportedHigh-Tech Industry Areas
Education level of employees
Proportion of R&D employees
Proportion of R&D expense over the total sales income
Proportion of revenue of high-tech product or service overtotal revenue
Number of IP rights
Reduced CIT rate at 15%
R&D Center Standard of R&D expenses
Number of employees specialized in R&D
Original cost of equipment purchased since establishment
Import taxes can be exempted on import oftechnology development goods by foreign R&Dcenters
VAT can be refunded on the domestically purchasedequipment by domestic and foreign R&D centers
16
Extracts from policies are for your reference only.
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2011 KPMG Advisory (China) Limited, a wholly foreign owned enterprise in China and a member firm of the KPMG network of independent member firms
affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved. Printed in China.
Preferential Taxation Policies - China (Contd)
Target Detailed Preferential Taxation Policies
Software Enterprise
Immediate refund of levied VAT
The VAT refunded under the policy of immediate refund of VAT levied which are used in R&D activities ofsoftware products and product expansion should not be treated as taxable income and subject to CIT
Enjoy 2-year exemption and 3-year 50% reduction of CIT from first profitable year
Qualified key software production enterprises can enjoy 10% CIT rate if not enjoying tax exemption incurrent year
Staff training expense is fully deductible for CIT purposes on actual incurred basis
Integrated Circuit (IC)Enterprise
Deemed as software enterprises to enjoy the same CIT preferential policies as above
Manufacturing equipment can be enjoyed accelerated depreciation (min 3 years) upon approval
Qualified IC enterprises can enjoy 15% CIT rate and 5-year exemption and 5-year 50% reduction of CITfrom first profitable year
Key Public InfrastructureProject
Environment ProtectionProject
Energy Saving Project
Qualified enterprises can enjoy 3-year exemption and 3-year 50% reduction of CIT, from the year receivingof first operating revenue
Enterprises which performprocessing and trading onrestricted products
Eastern China Central and Western China
Class A and B enterprises pay 50% of deposit Class C enterprises pay full amount of deposit base
on Custom Duty and Imported VAT payable on thebonded import materials
Class A and B enterprises: no deposit Class C enterprise: deposit will be refunded
17
Extracts from policies are for your reference only.
P f ti l P li i Ch d
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Level Type Incentives
ChengduMunicipalLevel
Qualified enterprises that recruit high-level talents
Home subsidy Individual Income Tax refund
Provide certain securities on family members
Qualified technology innovation andreframe project
Interest subsidy: upper to RMB3 million
Funding assistance: upper to RMB1 million
ChengduHi-techDistrictLevel
Advanced and New TechnologyEnterprise: contribution value RMB5million, annual sales income >200million, growth>30%
Other industrial enterprise:
contribution value RMB1 million
Financial support: equals to 60% of actual contribution value to Hi-tech District
Financial support: equals to 50% of actual contribution value to Hi-tech District
Current year contribution value aboveRMB10 million and annual sale incomeexceed the required amount
Reward to the enterprises management: RMB0.3 million to RMB2 million
Software enterprise in High Tech Zonewith required number of employee
Rental subsidy for certain period
Famous software enterprise that buildoffice building within SoftwareIndustry Park of Hi-tech District
Obtain land right at a preferential price under agreement
Preferential Policies ChengduMunicipal & Hi-tech District Level
Local government may provide extra benefit to significant investment project (Case-by-case)
Extracts from policies are for your reference only.
18
P f ti l P li i Ch i
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2011 KPMG Advisory (China) Limited, a wholly foreign owned enterprise in China and a member firm of the KPMG network of independent member firms
affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved. Printed in China.
Level Type Incentives
ChongqingMunicipalLevel
Tax incentive
Reducted 15% CIT rate for qualified enterprises Tax holiday or exemption granted by the municipal government for qualified enterprises
Financial subsidy Refund of a certain portion of income tax and turnover taxes retained by local government
Special fund for rewarding exportation, subsidizing interests and bringing in talented people
Incentives toencourage recruitmentof high-level talents
Reward / subsidy
Providing assistance on various aspects, such as accommodation, education of dependants,etc.
ChongqingLiangjiangNew AreaLevel
Tax incentive
Reducted 15% CIT rate before 2020 for encouraged enterprises in Liangjiang New Area
Less-than-10% actual CIT rate for qualified Advanced and New Technology Enterprises inLiangjiang New Area
Risk compensation fund accrued by qualified enterprises in the New Area could be deductedfor CIT purposes
Financial support
Special fund of RMB10 billion for construction of infrastructures and facilities in LiangjiangNew Area
Investment fund for supporting the development of key industries
Fiscal revenue of Liangjiang New Area for the 5-year period from 2011 to 2015 shall totally beutilized for the development of Liangjiang New Area
Preferential treatmentfor administrativeapproval procedures
The local government shall guarantee the availability of land for industrial use
The local government shall support the enterprises on administrative approval procedures,such as project evaluation and market entry approval , etc.
Preferential Policies ChongqingMunicipal & Liangjiang New Area Level
Extracts from policies are for your reference only.
Local government may provide extra benefit to significant investment project (Case-by-case)
19
Preferential Policies Xian
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affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved. Printed in China.
Preferential Policies XianMunicipal & Hi-tech District Level
20
Level Type Incentives
XianMunicipalLevel
Tax incentive Reducted 15% CIT rate for qualified high-tech enterprises, services outsourcing
enterprises and encouraged enterprises
Business tax exemption for the income from services outsourcing business of
technology advanced service enterprises
Financial subsidy With considering the operation scale and tax contribution to local government,
the qualified enterprises, which are the regional headquarter, will be obtained a
certain discount / exemption on purchasing buildings, paying office rental, etc
Award the enterprises of which the annual export amount is over USD10 million
Subsidy for the export credit insurance expenses
Xian Hi-techDistrict Level
Tax incentive Reduced 15% CIT rate for qualified high-tech enterprises
Financial subsidy forsoftware and servicesoutsourcing enterprises
Subsidy for office rental
Subsidy for outsourcing business
Subsidy for international certificate
Extracts from policies are for your reference only.
Local government may provide extra benefit to significant investment project (Case-by-case)
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2011 KPMG Advisory (China) Limited, a wholly foreign owned enterprise in China and a member firm of the KPMG network of independent member firms
affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved. Printed in China.21
Contents
Perspectives on current Western China1
2
Introduction of incentive policies3Tips for investment in Western China4
Perspectives on future Western China
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2011 KPMG Advisory (China) Limited, a wholly foreign owned enterprise in China and a member firm of the KPMG network of independent member firms
affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved. Printed in China.
Go-West: Step by Step Approach
Research on the investment destination,
target an appropriate market position andwork on the investment plan
Involve professional consultants tocomment on the investment plan and help
the decision-making of investment form,financing instrument, business arrangement,location-choosing, etc.
Design an efficient holding structureaccording to the companys overalldevelopment strategy, in order to reduce
investment cost and maximize profit
Make investment decision, prepare theestablishment of the company and budget
drafting
Complete the establishment procedure and
start daily operation
To hold symposiums and deliver
publications to provide guidance andreference for the companys investment
plan
Tax and Advisory service teams will providepre-establishment advisory to the company
and comment on the companys investmentplan
Tax and Advisory service teams will help thecompany design a tax efficient andoptimized holding structure, which is in
accordance with the companysdevelopment plan and in compliance withrelevant laws and regulations
Advisory service team will provide financialprojections and other services to thecompany
Services by consultantActions of the company
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Ongoing audit, tax and advisory servicesaccording to the needs of the company at
different stages of its development
Step 1Analyses
Step 2Involving
consultants
Step 3Structuring
Step 4Planning and
budgeting
Step 5Operation
I i R h A li i d I l i
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2011 KPMG Advisory (China) Limited, a wholly foreign owned enterprise in China and a member firm of the KPMG network of independent member firms
affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved. Printed in China.23
Research the possible incentives by considering theproposed entities business scope, scale, location, etc. :
- Study Catalogue of Encouraged Industries, etc. tosearch for the possible country level tax incentives,mainly including CIT, VAT, BT and Customs Duty
- Find the possible local land / financial / otherincentives according to the proposed entities locationand business
- If necessary, seek the assistance from professionaladvisors to analyze the possible incentivescomprehensively
After the investment location is decided, contact with localgovernments investment department timely to seek theirpreliminary confirmation of the possible incentives andtheir assistance on the establishment of the proposedentity
After the proposed entity is established, obtain in-chargeauthorities written approval / confirmation for incentives
Check the enjoyed incentives regularly to judge whether theconditions and validation period for the incentives are stillapplicable in order to avoid potential tax and financial risks
Incentives Research, Application and Implementation
Incentives Research, Application and Implementation
Country level
Province level
Municipal
level
District level
Tax incentives
Land subsidiesFinancial subsidies
Other incentives
Where to find incentivesResearch websites of State / Local Governments
Consult with State / Local GovernmentsInvestment Departments
Consult with professional advisors
KPMG i Chi
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2011 KPMG Advisory (China) Limited, a wholly foreign owned enterprise in China and a member firm of the KPMG network of independent member firms
affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved. Printed in China.
KPMG in China
KPMG Hong Kong was established in1945 and established a presence inChina in 1985
In 1992, KPMG was the firstinternational accounting firm grantedwith a foreign joint venture licence inChina
Flexible and efficient allocation ofresources through our singlemanagement structure for all offices
across China, Hong Kong and Macau 13 offices have been established over
China, Hong Kong and Macau to date
Over 9,000 professionals includingmore than 300 partners
The first and only Big-4 established inChengdu with locally basedprofessionals to provide full range ofservices
The only Big-4 in Chengdu with thebiggest resident teams to offer tax andadvisory services
More than 140 professional staffcurrently stationed in Chengdu
Shanghai
Hong Kong
Tibet
Xinjiang
Jiangxi
Fujian
Beijing
Shenzhen
Macau
Guangzhou
Hangzhou
FuzhouChengdu
Qingdao
Shenyang
Nanjing
Xiamen
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C t t
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2011 KPMG Advisory (China) Limited, a wholly foreign owned enterprise in China and a member firm of the KPMG network of independent member firms
affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved. Printed in China.
Anthony Chau
Partner, Tax
KPMG China
Tel: +86(21) 2212 3206 (Shanghai)
+86(28) 8673 3916 (Chengdu)
Email: [email protected]
Shanghai office
50th Floor, Plaza 661266 Nanjing West RoadShanghai 200040, China
Tel: +86(21) 2212 2888Fax: +86(21) 6288 1889
Contact
Chengdu office
18th Floor, Tower 1, Plaza Central8 Shuncheng AvenueChengdu 610016, China
Tel: +86(28) 8673 3888Fax: +86(28) 8673 3838
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Andy Deng
Assistant Manager, Tax
KPMG China
Tel: +86(28) 8673 3923 (Chengdu)
Email: [email protected]