Torch Development Zone a few days ago issued the "Revised Notice on Using Financial Funds to Promote Investment Invitation" to clarify the scope of using financial funds on services from investment promotion agencies and encourage various market entities to play a role in investment promotion and selection.
The Notice mentions that the expenses incurred during the overseas investment promotion activities hosted in the name of TDZ and undertaken by the major head offices affiliated to TDZ shall be shared by the district finance department and these major head offices at a ratio of 60 percent and 40 percent.
In addition, if a newly established enterprise is successfully introduced through referral agencies (including enterprises, social organizations, and other economic organizations, except government agencies, institutions, enterprises affiliated to TDZ, and social individuals), and completes the industrial and commercial registration process in TDZ, such referral agencies shall be rewarded according to a certain proportion of the newly registered enterprise's total value. Among them, the reward for the introduction of new advanced manufacturing and new producer services shall not exceed 5 million yuan.
The Notice will be valid for 3 years from January 1, 2020.
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