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TABLE OF CONTENTS CHAPTER I GENERAL PROVISIONS CHAPTER II ADMINISTRATIVE MANAGEMENT CHAPTER III INVESTMENTS AND OPERATIONAL MANAGEMENT CHAPTER IV LAND EXPLOITATION AND MANAGEMENT CHAPTER V TECHNOLOGICAL INTRODUCTION CHAPTER VI PREFERENTIAL TREATMENTS CHAPTER VII SUPPLEMENTARY PROVISIONS CHAPTER I GENERAL PROVISIONS Article 1. The present Provisions are formulated in accordance with the relevant laws and regulations for the purposes of promoting the economic and social development of Guangzhou. Article 2. Upon the approval of the State Council, Guangzhou Economic and Technological Development Zone (hereinafter referred to the Development Zone) was established in Guangzhou. The Development Zone is to implement the preferential polices of the State under the leadership of the People's Government of Guangzhou Municipality, and to carry out the economic and technological development. Article 3. An Administrative Committee shall be set up in the Development District to exercise, on behalf of Guangzhou Municipal People's Government, unified leadership and administration over the Development District, and coordinate the work concerning the Development District among the Central and Provincial departments in the Development District. Article 4. The principles described below shall be observed in the construction and development of the Development Zone: (1) The economic and technological development shall be carried out according to the rule of socialist market economy, the long-term economic and social development program of Guangzhou Municipality and the rules and practices of international economic trade; (2) Combining foreign introduction with domestic collaborations, combining introduction of talents with that of advanced management experiences, combining high efficiency with rapid speed of development, establishing manufacturing enterprises and boosting the scientific and research cause, re-enforcing the development effort of the newly emerging industry and the tertiary industry, and laying emphasis on the introduction of high tech and capital intensive projects; and (3) Guiding and promoting the economic and technological development and construction of Guangzhou Municipality, opening up the regional markets in Hong Kong, Macao and Taiwan and international markets, serving the adjustments of the industrial structure and technological renovation, and boosting the strength of the national economy of Guangzhou. Article 5. The Development Zone shall provide a good investment environment for the investors, shall do a good job in the land-leveling project, and offer public facilities of water supply, power supply, drainage, communication, roads, port, storage, school, hospital, environmental protection, living services, and so on. Article 6. The capital, the deserved profits and other legal rights and interests of the Investment Development Zone shall be under the protection of the state's laws and regulations, and the present Provisions. The enterprises, the public entities and the individuals in the Development Zone shall abide by the state laws, regulations and the present Provisions, and shall not impair the public interests. Article 7. The enterprises, public entities and the personnel of the administrative departments and groups in the Development Zone are entitled to establish labor unions, to carry out labor union activities, and to protect the legal interests and rights of the personnel. CHAPTER II ADMINISTRATIVE MANAGEMENT Article 8. The People's Government of Guangzhou Municipality shall authorize the Administrative Committee of the Development Zone (hereinafter referred to the Administrative Committee) to exercise the following functions: (1) to formulate and announce the administrative measures of the Development Zone in accordance with the law; (2) to create economic and social development plans of the Development Zone, and organize the implementation of them; (3) to examine and approve the investment projects to be undertaken in the Development Zone within its functions; (4) to create the overall program of the construction of the Development Zone, examine and approve the detailed plans; handle the relevant affairs concerning the lawful expropriation of the land within the Development Zone according to the functions at the city level, issue Permits of Land Planned for Construction, and take charge of the management development; deal with the assignment, transfer, issuance of certificate and other managerial affairs; (5) to be responsible for the plans of the construction projects within the Development Zone, the examination and approval of the preliminary designs, the examination and approval of the construction applications, bids and tenders, issuance of the certificates, supervision of the construction and the pertinent archives, the qualification examination and verification of the construction entities and design entities; the incomes from the remise of land shall be turned in according to the municipal requirements for the purpose of being planed and arranged as a whole; (6) to be responsible for the registration, issuance of certificates and transactions of the real estate within the Development Zone; (7) to be responsible for the enforcement of environmental protection law and the collection of fees; (8) to plan and manage the finance of the Development Zone in a consolidated way; (9) to protect the legal rights and interests of the enterprises and public entities within the Development Zone; (10) to lead, plan and manage the water supply, electricity supply, gas supply, transportation, culture and education, health and other public services and utilities; (11) under the guidance of the foreign department of the municipal government, to take charge of the foreign-related affairs of the Development Zone, and to examine and approve the exit-entry of the persons in the Development Zone; (12) to examine and manage the import and export businesses; (13) to decide the organizational structures, the planning of the personnel, the recruitment, assignment, management, welfare treatments, as well as the appointment, removal, punishment and reward of the managers and workers of the administrative and public entities within the Development Zone; (14) to lead the management of public security and domiciliary registration, and the latter shall tally with the actual circumstances of the Development Zone; and (15) to exercise other functions that shall be done by the Administrative Committee of the Development Zone. Article 9. The Administrative Committee may, in conformity with the principle of simplified administration and high efficiency, set up necessary functional departments or approve the establishment or necessary adjustment of such departments. CHAPTER III INVESTMENTS AND OPERATIONAL MANAGEMENT Article 10. Foreign and domestic companies, enterprises, the other economic institutions and individuals, including Hong Kong, Macao and Taiwan (hereinafter referred to investors) may invest into and establish, run or engage in the following enterprises and public services: (1) high-new tech enterprises; (2) advanced technological enterprises; (3) scientific and technologic entities; (4) the construction of basic facilities related to energy, transportation, communication and environmental protection; (5) the third industry such as information technology services, real estate development, commercial service, etc.; (6) Banks, financial business and insurance business upon approval; (7) the international economic and technological cooperation upon approval; (8) the issuance bonds and stocks at home and abroad in accordance with the relevant regulations or upon application and approval. Article 11. The investors may make investment in the Development Zone in any of the following ways: (1) sino-foreign joint equity enterprise; (2) sino-foreign cooperative joint enterprise; (3) wholly foreign-funded enterprise; (4) wholly domestic-funded enterprise or joint enterprise; (5) compensation trade and the processing and fitting-on by advanced technologies; (6) offering loans, financing lease, establishment of investment fund; (7) purchasing the bonds and stocks of the Development Zone and its affiliated enterprises; the establishment of companies limited by shares upon approval; accept the stock rights, property rights of the enterprises in the Development Zone; (8) other forms permitted by the laws of the People's Republic of China. The term "enterprises" mentioned in Items (1) through (3) refers to foreign-funded enterprises. Article 12. To establish any type of enterprise in the Development Zone, one shall go through relevant procedures at the administrative department for industry and commerce of the Development Zone, shall obtain the business license and go through tax registration procedures at the taxation organ of the Development Zone before it starts business. Where it is otherwise provided for in any of the laws and regulations of the state, the latter shall be followed. Article 13. The establishment, start, closedown, business suspension, bankruptcy, liquidation of enterprises and companies in the Development Zone that shall be reported to relevant administrative departments for examination and approval in accordance with the law shall be reported to the Administrative Committee of the Development Zone for examination and approval. Where it is otherwise provided for in any of the laws and regulations of the state, the latter shall be followed. Article 14. After a foreign-funded enterprise has obtained the business license, it shall go through the procedures for the establishment of foreign currency account and registration of foreign loans. Article 15. All types of insurances for the enterprises in the Development Zone shall be handled in accordance with the Insurance Law, and the obligations of social security provided therein shall be fulfilled. Article 16. The enterprises of the Development Zone shall establish accounting books in the Development Zone or in Guangzhou Municipality, keep separate accounts and submit accounting statements in accordance with relevant regulations. All of the data and content in the statements shall be authentic, and shall accept the supervision conducted by the governmental departments and organs. Article 17. A foreign-funded enterprise in the Development Zone are entitled to create production and operation plan by itself, raise and use funds, purchase productive materials, and sell products within the scope of its articles of association upon approval. It is entitled to determine the standards and form of salary, the award and subsidy system by itself; where it is necessary, it is entitled to determine the structural organization and the personnel quota or make-up, to hire and dismiss operational managerial personnel and workers in accordance with the law. Article 18. The closedown or business suspension of an enterprise in the Development Zone shall go though the procedures for the cancellation of business license, the rest assets may be sold out or transferred to others in accordance with the law. The capital in foreign currency of the foreign party may be remitted abroad in accordance with the relevant regulations. Where it is otherwise provided for in any of the laws and regulations of the state, the latter shall be followed. CHAPTER IV LAND EXPLOITATION AND MANAGEMENT Article 19. The land exploitation and the construction of the basic facilities and public utilities shall be in any of the following forms: (1) Being done by the Development Zone or jointly with the relevant departments of the Guangzhou Municipality; (2) Being done by the investors and the Development Zone and its affiliated enterprises by way of joint equity or cooperation; (3) Being exploited in large tracts by the investors. Article 20. The land-use right of the land expropriated by the Development Zone shall be subject to paid assignment. The assigned land may be further transferred by the assignee. The object of assignment or transfer shall be limited to the land-use right only. Where it is inconsistent with the laws and regulations of the state, the latter shall be followed. All kinds of natural resources, and objects of unknown owners buried or hidden under the ground of the Development Zone shall be owned by the state. Article 21. The assignor of the land-use right of the Development Zone shall be the Administrative Committee, the assignees may be foreign and domestic companies, enterprises, the other economic institutions and individuals, including Hong Kong, Macao and Taiwan. Where it is otherwise provided for in any of the laws or regulations of the state, the latter shall be followed. Article 22. The land-use term shall be subject to the ratification of the Administrative Committee on the basis of the actual needs of the projects in accordance with the relevant regulations of the state. Article 23. The assignee shall file an application for the establishment of an enterprise or for engagement in a project construction in accordance with the procedures required. The construction project conformable with the industrial policies of the Development Zone may be entitled to enjoy the priority of assigned land. Article 24. The assignee of the land-use right may transfer the land-use right which has been assigned to the Development Zone through the prescribed procedures in accordance with the laws, regulations and rules of the state, the province, the municipality and the Development Zone. Article 25. The transferee or assignee of a land-use right may use the land-use right as mortgage guarantee through the prescribed procedures in accordance with the regulations and rules of the state, the province, the municipality, or the Development Zone concerning the administration on real estate mortgage. Article 26. The Development Zone may, upon approval, expand the development area according to the development program of Guangzhou Municipality and the actual needs in economic development. CHAPTER V TECHNOLOGICAL INTRODUCTION Article 27. The Development Zone shall encourage domestic and foreign enterprises, scientific institutions, universities and colleges and engineering technicians to make technical cooperation by various ways in the Development Zone. Article 28. The technologies introduced into the Development Zone shall be appropriate, advanced, including the patented technologies, the patent technologies under application, exclusive technologies and the technologies with obvious economic benefits. Article 29. The Development Zone shall lay emphasis on introducing the new technologies that: (1) relate to the municipal or domestic important new rising industries and new products; (2) have obvious effect on the existing municipal or domestic enterprises' technological renovation and renewal of products; (3) are especially needed at home in terms of production techniques and manufacturing techniques; (4) play an important role in helping the relevant fields and products in Guangzhou or other places of the country to catch up with the advanced international level; (5) can make full use of the resources and can reduce or won't cause environmental pollution. Article 30. Domestic and foreign enterprises, teaching and scientific research entities and engineering technicians are encouraged to establish production-scientific research entities or science-industry-trade entities, which are entitled to enjoy the preferential treatments in the selection of address, establishment of factory, the assignment of land, credits and taxation in accordance with the relevant regulations. Article 31. The technologies shall be introduced by the following ways: (1) licensed trade; (2) technological collaboration or service; (3) cooperative design, cooperative development and production; (4) hiring experts to hold posts or to teach; (5) importing technical materials; (6) licensed computer software; (7) other ways. Article 32. It is allowed by the Development Zone that the intangible assets of the investors can be used as investment in the establishment of sino-foreign joint equity enterprises, sino-foreign cooperative joint enterprises, as for the proportion thereof and the cash and physical things, the relevant provisions shall be implemented. Article 33. The Development Zone shall set up a scientific and technologic development fund, which shall be used for the purpose of research, introduction, development, application and creation of high-and-new techs. CHAPTER VI PREFERENTIAL TREATMENTS Article 34. The treatments to the enterprises and foreign investments in the Development Zone in the aspects of enterprise income tax, import-export duties and the above-mentioned various kinds of reduction, exemption and refund of taxes shall be implemented in accordance with the relevant laws and regulations of the state. Article 35. Among the foreign-funded enterprises, those advanced technological enterprises of the Development Zone determined by the Administrative Committee shall be entitled to enjoy the preferential treatments of the state. Article 36. Where a foreign-funded enterprise wishes to have its local income taxes reduced or exempted, the relevant provisions of the state in the tax law of the state shall be followed. Article 37. Upon the approval of the customs, one may engage in the bonded processing, bonded storage and entrepot trade within the Development Zone and its new development area. CHAPTER VII SUPPLEMENTARY PROVISIONS Article 38. Where it is otherwise provided for in any of the economic policies and investment treatments provided in the relevant laws and regulations, the latter shall be followed. Article 39. The present Provisions shall be implemented as of February 19, 1987. |
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