In a bid to further enhance its international competitiveness and attractiveness, Pingtan has announced a comprehensive plan aimed at promoting high-level opening-up and facilitating foreign investment. The plan, outlined in the "Pingtan Comprehensive Pilot Zone's Key Work Points for Attracting and Utilizing Foreign Investment" (hereinafter referred to as the "Work Points"), encompasses five major areas with seventeen specific measures to foster a business landscape that is market-driven, legally compliant and globally competitive. Pingtan, also known as Pingtan Comprehensive Pilot Zone, is a special economic zone located in Fujian province, China.

Raising Foreign Investment Liberalization:

The Work Points emphasize the need to lower market entry thresholds for non-Hong Kong, Macao, and Taiwan foreign investors, simplifying fund entry approval procedures for Taiwan investors while ensuring effective supervision and control over capital flows. Furthermore, a robust mechanism for addressing the grievances of foreign-invested enterprises has been established through platforms such as the Foreign-Invested Enterprise Roundtable, ensuring timely and effective resolution of legitimate concerns and safeguarding the rights and interests of investors.

Strengthening Fiscal and Financial Support:

Fiscal and financial incentives are offered to encourage foreign-invested enterprises to participate in industries eligible for a reduced 15% corporate income tax rate within the Zone. These measures are aimed at reducing costs and enhancing the investment enthusiasm of foreign-invested enterprises.

Enhancing Mobility Convenience for Foreign Nationals and Taiwan Compatriots:

The Work Points also focus on creating a more convenient and efficient environment for foreigners working and residing in Pingtan, optimizing work and residence permit processes. Furthermore, efforts are being made to expand the application scope of Taiwan Resident Permits in areas such as employment, healthcare, housing, and finance, providing greater convenience for Taiwan compatriots.

Intensifying Recruitment of Foreign Investment Projects in Key Sectors:

A specialized team for recruiting foreign (including Taiwan) investment projects has been established, with a focus on promoting the settlement of  Taiwan-funded enterprises and encouraging the return of local entrepreneurs invested in traditional industries like shipping and offshore fisheries. Measures like NRA account settlement are being adopted to improve capital utilization efficiency, reduce transaction costs, and further facilitate investments.

Aligning with International Economic and Trade Rules:

Pingtan is aligning itself with international standards in intellectual property protection, intensifying efforts to safeguard foreign-related intellectual property rights in key areas. It is also actively seeking to expand openness in sectors such as healthcare and film, relaxing investment qualifications and shareholding requirements. By leveraging its green economy industrial base, Pingtan aims to introduce advanced foreign models and technologies, promoting green and low-carbon transformation across its industrial chains and supply chains.

The Economic Development Bureau of Pingtan has expressed its commitment to steadfastly expanding opening-up, adhering to the objectives outlined in the Work Points, actively addressing challenges and issues faced by foreign-invested enterprises, and leveraging platforms like the Roundtable mechanisms to enhance service quality and create more opportunities for foreign enterprises in Pingtan, driving breakthroughs in the attraction and utilization of foreign investment.