The People's Government of Bengbu City
Chinese

Provisional Methods for Rewarding Intermediaries for (City-Level) Projects with Outside Investments in Bengbu (Abstract)

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Provisional Methods for Rewarding Intermediaries for (City-Level) Projects with Outside Investments in Bengbu (Abstract)
WZSB (2008) No. 1


1.The Criteria for Successful Recommendations
1.1 Investment from outside investors for investment projects should be all put into projects. Investment from outside investors refers to:
1.1.1 Contribution to registered capital provided by outside investors for enterprise founding;
1.1.2 Contribution to fixed assets of other projects provided by outside investors (as specified by contract);
1.2 Project progress must meet the following requirements:
1.2.1 Comprehensive agricultural projects have been put into operation;
1.2.2 Industrial projects have been officially put into production;
1.2.3 Other projects have all be completed or opened for business operation.

2. The Reward Coverage and Standards
Rewarding standard for intermediaries will be determined in accordance with contribution sizes of outside investors and industrial policies.
2.1 For investments to agriculture industrialization projects, high-tech industrialization projects and processing & manufacturing projects compliant with national policies and outside investment contribution is over 5 million RMB, a reward equal to 5‰ of the actually invested funds will be awarded to their intermediaries.
2.2 For investments to projects targeting at development of education, hygiene, culture, tourism and sports, and outside investment contribution is over 5 million RMB, a reward equal to 3‰ of the actually invested funds will be awarded to their intermediaries.
2.3 For investments to projects targeting at real estates (including commercial real estates), catering, entertainment, internet bars and bathrooms, and comprehensive projects whose investment accounts for over 50% of the total investment, no reward will be offered to their intermediaries.
2.4 Maximum reward for individual project will not be over 500,000RMB.
2.5 Any income taxes involved by the above rewards will be paid by reward receivers themselves.

3. The Reward Offering
Based on the principle of "beneficiary pays the bill", rewards will be offered by financial institutions whose levels are same as ones of tax receiving institutions collecting taxes from enterprises with outside investments for outside funds introduced to Bengbu. The rewarding funds will be disbursed by various levels of financial institutions. For rewards compliant with city-level rewarding requirements, the steering team office in charge of Bengbu's investment attraction (municipal investment invitation bureau) will be responsible for handling related procedures.