The Taizhou Medical High-tech Zone in Taizhou city, East China's Jiangsu province, has offered total funding of 26 million yuan ($3.58 million) to support the development of foreign-funded trading enterprises.
The zone issued 10 new policies in March to further stabilize the scale and improve the quality of its foreign trade.
They clarify that newly established foreign-funded projects will be rewarded according to their classification recognized by the Ministry of Commerce in the current year, up to a maximum of 8 million yuan per enterprise.
To date, 12 foreign-funded enterprises have received 5.78 million yuan in grants.
As a mecca for the high-quality development of Taizhou's open economy, the zone is now home to 292 registered foreign-funded enterprises, including 18 Fortune Global 500 investment companies.
The new policies also clarify that if foreign-funded enterprises increase their registered capital through their generated profits, capital reserves, foreign debt and other ways – and their actual received foreign investment amount recognized by the Ministry of Commerce in the current year exceeds $30 million – they will be rewarded with 1 percent of their actual received foreign investment amount.
In addition, the grants and subsidy measures – in such areas as developing new forms of foreign trade, guiding enterprises to actively respond to trade risks, as well as consolidating and expanding the international market – have also been clarified since March.
Yihai (Taizhou) Oils & Grains Industries Co Ltd recently receives 2.75 million yuan of subsidy. [Photo/Taizhou Medical High-tech Zone via WeChat weigg6666]