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Sichuan Introduces Policies to Promote National Economic Development Zones
Updated:2020.06.29

  The Implementation Opinions of People's Government of Sichuan Province on Promoting Innovation and Upgrading of National Economic and Technological Development Zones in Sichuan to Build New Highland of Reform and Opening-up was recently released, defining 17 major tasks for promoting the development of Sichuan's national economic and technological development zones.

  On institutional reform, the Opinions explicitly proposed to promote the reform of the management system and explore ways to grant economic management rights equal to those of local governments in the economic development zones. For further advancing the reforms to streamline administration and delegate power, improve regulation, and upgrade services, the Opinions stipulated that by delegating authority from the provincial government or from the local government, Sichuan will give the economic development zones relevant economic management and approval rights at the provincial or municipal level in accordance with the laws and regulations. Sichuan will improve the development and construction subjects and the operation subject management mechanism, and support development and construction subjects of economic development zones to speed up the asset restructuring and improve the shareholding structure. Sichuan will improve the performance assessment and incentive mechanism, and allow parties concerned to implement distribution modes such as part-time salary system, annual salary system and agreement salary system for qualified personnel as per the provisions. According to the Opinions, Sichuan will support the adoption of investment partner model or appointed civil servant model. Appointed civil servants approved by the civil servant authorities at or above the provincial level shall be subject to the agreement salary system according to provisions.

  On opening-up, the Opinions proposed to replicate and apply the reform measures proven to work in pilot free trade zones elsewhere, and give priority to supporting the economic development zones to become the pilot zones for the coordinated reform of the Sichuan Pilot Free Trade Zone. For improving the orientation of foreign investment, provincial and municipal financial departments will coordinately arrange relevant special funds to support the infrastructure construction, investment attraction, industrial transfer undertaking, and investment environment improvement in economic development zones. In order to develop new forms for foreign capital utilization, Sichuan will encourage enterprises to adopt equity financing, and give an one-time subsidy of RMB one million at the provincial level to enterprises that apply for IPO financing in domestic mainboards, SMEs boards, Growth Enterprise Market and major overseas capital markets. For the projects of merger and acquisition (excluding the internal asset restructuring among the subsidiaries of enterprises) successfully realized by the large enterprises and groups and listed companies in Sichuan through the means of equity M&A, the provincial finance department will offer a subsidy of up to RMB four million. In order to improve the quality of Sichuan's foreign trade, Sichuan will give priority to building comprehensive bonded zones in qualified economic development zones.

  On industrial development, the Opinions stated that measures should be taken to promote the cluster development of industries. For this end, provincial-level special funds for industrial development shall support the development of industrial parks, the incubation of industrial clusters in industrial parks and the trial and demonstration of industrial clusters in industrial parks. The advanced manufacturing cluster investment fund will be established based on the existing government investment fund. Sichuan will step up efforts to develop modern service industry, for which enterprises that are ranked among China's top 500 service enterprises for the first time and have registered in the region can be subsidized by the local finance authorities.

  On the building of relevant capacities, the Opinions put forward that efforts should be made to accelerate the construction of green parks, give play to the role of government investment funds, and support economic development zones to intensify recycling transformation. Sichuan will boost the digital economy, and support communications enterprises in developing 5G networking. Sichuan will enhance its capacity for industrial innovation, for that purpose Sichuan will establish a performance assessment mechanism for R&D input in economic development zones, and increase incentives for R&D input. For approved foreign-funded research institutes, relevant departments will give a one-time subsidy up to RMB 1.5 million. Sichuan will take proactive actions to construct the New International Land-Sea Trade Corridor (ILSTC) and explore channels to build cooperation parks with ASEAN countries. Sichuan will build new carriers for international cooperation and support the establishment of international (regional) cooperation parks in the economic development zones.

  In addition, the Opinions also specified corresponding supporting measures from the aspects of land, energy and professionals. In order to improve the allocation of land resources, Sichuan will launch the "per unit area yield" reform and give incentives to the better evaluated economic development zones. In order to reduce the cost of energy resources, Sichuan will support eligible corporate natural gas users in economic development zones to switch from "transferred supply" to "direct supply". In order to enhance talent policy guarantee, the age limits for work permit shall be appropriately extended as per regulations for urgently needed foreign experts, and outstanding overseas students with master degree or above will be allowed to work in the economic development zones.



 
 
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