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Q： What are the Favourable Policies of Xiangyu Free Trade Zone?
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2006-7-13 |
A: 1.Investment Policies:
(1)It encourages domestic and foreign investors to invest in modern logistics and distrbution,bonded warehouses,hi-tech processing,port management,international trade,commodity display and other related projects.
(2)Enterprises in the FTZ can have one main business but with comprehensive and extensive operation.
(3)Enterprises could register within the area ,but operate outside,or establish branches outside the FTZ.
2.Import and Export Policies:
Goods within the area and outside the country could flow in and out freely. The Customs adopts duty-free or bonded policies without any restrictions concerning licences and quotas.The Ministry of Commerce and the General Administration of the Customs of the PRC authorize this FTZ to directly give nationwide import and export rights to enterprises in the FTZ.
3.Warehouse Policies:
(1)Storage of imported goods doesn‘t have any restrictions concerning items and time except for those restricted by the Country .
(2)In the bonded warehouses ,all kinds of logistics value-added services and simple commecial processing like goods sorting , packing , choosing ,labeling, marking , carton opening and combination, etc. can be done .
(3)It is flexible and easy for the goods to come in and go out of the warehouses ,which could be stored the whole lot but taken out part by part or the reversed. The Customs manages the bonded goods with Records System.
4.Processing Trade Policies:
(1)Processing trade enterprises are not managed by category and don‘t need bank deposit.
(2)All imported spare parts and material used in processing trade are totally bonded ,the Customs manages them with Records System .
(3)The goods produced by the processing trade enterprises in the FTZ will be exempted from paying the production-period value -added taxes when sold in the area or exported.
(4)In accordance with the Customs regulation concerning the management of import and export ,the processed goods within the area could be sold to domestic areas or to the enterprises in domestic area to have deep proccessing, by means of Processing Trade Handbook.
5.Taxation Policies:
(1)The imported self-used manufacturing equipments ,construction material ,office articles and maintainance parts,etc. could be exempted from customs tariffs and import-period taxes.
(2)The corporate income tax of enterprises inside the FTZ is 15%.
(3)The income tax of foreigner -invested manufacturing enterprises with over 10 years‘ operation could be exempted for the first 2 years, and half exempted for the next three years .After these 5 years ,if the export value of a certain year reaches over 70% the total output of that year, the tax rate will be 10%, and the technology-advanced enterprises could also use the 10% tax rate for the coming 3 years.
(4)The income tax of a service enterprise with foreign investment exceeding 5 million USD and over 10 years‘ operation could be exempted for the first year and half exempted for the next 2 years.
(5)Cargo from outside the FTZ and exported from the Free Trade Zone ,could be declared for tax refund after its actual departure .
(6)A company with 5 years of operation ,using the profit to reinvest ,could be returned 40% of the levied income tax for the reinvested amount . If the reinvestment is used to expand the export enterprise or technology-advanced enterprise with 5 years of operation, the total levied corporate income tax for reinvestment amount could be returned.
6.Foreign Exchange Polices:
(1)Enterprises within the FTZ could open foreign exchange current account ,no need to apply for the foreign exchange collecting for export.
(2)Cargo distribution enterprises and processing enterprises in the FTZ, after approval , can buy foreign exchange .
(3)Enterprises invested with RMB , can buy foreign exchange within the scope of the actual investment amount .
(4)Enterprises in the FTZ can retain the cash foreign exchange if they have any, and can convert it to RMB if they like . |
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Q： How is the Investment Environment of Xiangyu Free Trade Zone?
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2006-7-13 |
A: 1.Good Geographic Position:
The Free Trade Zone lies in the northwest, i.e. the port area of Xiamen connecting Haitiang port area, the airport and Xiangyu port area. It is near No319 national road and port railway with land air and sea transport facilities .It has the regional strong point as a port to launch cross-straits trial transport as it is just one water off Taiwan .
2.Excellent Logistics Conditions:
Sea Transport : Xiamen port and Taiwan‘s Kaoxiong has successful trial sea shipment transport and is NO.6 biggest container port in China and one of the 50 biggest container ports in the world .No12-16 berthes of Xiangyu port within the Free Trade Zone has witnessed the shipment of 1 million TEU since operation. Its annual business accounts for over 20% of the total container business volume of Xiamen port.
Land Transport: Connecting No.319 and 324 national high ways and Fuzhou-Xiamen-Zhangzhou,Zhangzhou-Longyan,Zhangzhou-Shantou express ways ,it goes everywhere of China .
Air Transport :The air logistics zone of the Free Trade Zone connects Xiamen Gaoqi international airport which has 89 domestic and international air routes,including international flights to Singapore,Pingnang,Kuala Lumpar,Manila,Jakarta,Tokyo,Osaka,Nagoya and Bangkok,which has been approved by the State authority to open the Fifth Flight Right to let Singaporean Airline ship cargo to Chicago ,the U.S.A .There are 26 airliners operating in Xiamen Airport which is one of the most important airport in east China with over 380 departure flights weekly.
3. Quick Customs Clearance:
The customs exercises simple,convenient and effective supervision over the cargo between the FTZ and abroad by adopting "One-Time Declaration,One-Time Inspection and Let-go",and using electronic means of logistics inspection and EDI declaration,so Customs clearance is quick.
4. Efficient Administration:
Dispatched by the Municipal Govermment,the Administrative Committee of the Free Trade Zone is the administrative organ.Adopting the concept of "Service,Efficiency,and Honesty",it cuts the unnecessary procedures with transparency and warm service without taking any administrative charges.
5. Perfect Services:
All Bureaus like Inspection ,Quarantine ,Industrial and Commecial Administrative ,Taxation and banks,insurance and telecommunication companies have their branches in the FTZ to provide effective and quick services and management .There are many companies like forwarders, customs brokers,warehouses ,transport and carrying in the area to provide relevant logistics services .They are efficient with reasonable prices and perfect facilities. |
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Q： What is the General Situation of Xiamen Xiangyu Free Trade Zone?
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2006-7-13 |
A: Xiamen Free Trade Zone was approved to set up by the State Council of the P.R.China in October 1992 in Xiamen Special Economics Zone(Xiamen SEZ). Apart from enjoying the preferential policies of SEZ, it also uses for reference the operation of present world free trade zones . Being "Free of Licences ,Duty-Free and Bonded", it is the special economic zone in Chinese mainland enjoying the widest openness , the most flexible operation system and the most preferential investment policies.
After over 20 years of construction , Xiamen SEZ has become the most dynamic economic area in southeast coast of China, "the Best Habitating City" in the world and attracted over 5000 FDI projects , including 39 ones from "Fortune 500".
Xiamen Free Trade Zone includes 5 KM2, in which 1.1 has been developed for Phase I. The layout includes 7 30-50-thousand -ton container berthes with over 1400 metres of coastal line and 0.7 million M2 of interior land area .
Being "Special Area within the SEZ" , based on the concept of "First to Try ,Quicker and Better ",and in accordance with the international practices, the FTZ has become the fast-developing special economic area with outstanding functions and preferential investment environment . Many famous multinational companies such as Micron ,Kodak,Celestica ,Plexus,Baxglobal and New World have come and developed quickly.
It has become the important economic flash point of Xiamen SEZ with port as its leading function ,characterized with bonded warehouses and modern logistics as its main body .It has become a new economic area including international trade, processing trade and entrepot trade.
In order to further develop its service function ,enlarge operation and satisfy more investment demands, Xiamen Free Trade Zone now begins to build the Phase Ⅱand airport free trade zone .We believe in the near futhure, a big prosperous Xiamen Free Trade Zone with all air , sea and land transport facilities will warmly welcome guests from home and abroad .
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