The booming innovation-led South Chinese city has been confirmed by senior officials in a press conference on Tuesday to be targeting global enterprises this December 8th with an investment promotion conference.
The entrepreneurial city of Shenzhen recently celebrated its 40th anniversary of being a special economic zone, and, according to senior officials, intends to consolidate and expand its position as a target for foreign investment through offering an enticing package of incentive policies covering land, talents, industry, technology and business environment.
"The conference is an extremely important platform to showcase the ambition of the city, a pilot demonstration area of socialism with Chinese characteristics, and to give further impetus to its trajectory," commented a spokesman of the city’s Commerce Bureau.
The conference, to be held annually, is bound to become a must-attend attraction for global investors seeking to tap into new opportunities arising from China’s reform and opening up.
According to the official, despite the ongoing global COVID-19 pandemic, cyberspace has facilitated efforts which, after months of hard work, has resulted in a group of investment projects which will be signed on the site.
The conference is attracting senior executives from around 300 companies and institutes, including 65 Fortune Global 500 companies.
Besides the main venue in Shenzhen, parallel sessions in eight cities across five continents, including New York, London, Tokyo, and Sydney will be held, truly a testament to the impact Shenzhen has on the world stage.
After 40-years of development, official figures continue to show the vanguard of China’s reform and opening-up remains one of the country’s top investment destinations with the city utilizing $7 billion foreign investment in the first 10 months of this year alone, up 7.58 percent from a year before.
According to officials, the city’s already impressive investment environment will be even further improved.
The Commerce Bureau is accelerating legislation on the promotion of foreign investment, which will offer better protect of legal rights and interests of foreign investors.
Furthermore, according to the city’s Planning and Natural Resources Bureau, the city government will ensure ample supply of land space for industrial use and lower land costs for investors.
And on top of even that, the city’s HR and Social Security Bureau tells us that overseas professionals in Shenzhen, who fall in to the categories of high-end talents and urgently needed talents, will be able to enjoy a subsidy on personal income tax equivalent to that in the neighboring Hong Kong SAR.
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Commerce Bureau of Shenzhen Municipality