ANNOUNCEMENT 28 Jul 2011In July 2011, the government of China announced changed incentives for foreign investors entering the country.
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Chinese Ministry of Finance
Chinese version available:
On 28 July 2011, the Chinese Ministry of Finance (MOF) and Chinese Ministry of Land and Resource (MLR) jointly released the Notice of Policy on Land Transfer Revenue and Compensation for the Use of Land Newly Designated for Development in Xinjiang Uygur Autonomous Region (Caizong '2011' NO.57, the 'Policy'). The purpose of the notice is to provide favorable treatment for land use in Xinjiang Uygur Autonomous Region.
Several favorable treatments will be provided in Xinjiang Uygur Autonomous Region:
Ř Using desert wasteland to construct industrial concentration areas and to introduce industrial projects will be exempted from Compensation for the Use of Land Newly Designated for Development.
Ř Using desert wasteland to construct industrial concentration areas and to introduce industrial projects, units and individuals entitled with the national land using right will be exempted from land transfer payment.
Ř The minimum price for land use will be set to half of the level stipulated in National Standards for the Minimum Transfer Prices of Land for Industrial Purposes.
These favorable treatments will be keep in effective till the date of December 31, 2020.