First Fee-Free Zone Designated in South ChinaThe first part of the Nanning New and High-tech Development Zone was designated Friday in south China's Guangxi Zhuang Autonomous Region to offer fee exemptions for incoming businesses.The first group of 40 Chinese and foreign enterprises to settle in the zone will be exempt from 17 administrative charges such as the land right change fee and urban construction fee. The requirement for the beneficiaries include registration at the local government, meet the State environment standards and have a considerable production scale. The move is to help improve the investment environment, reduce the operations cost of enterprises and adapt to international practice, said a local government official. More than 800 businesses were settled at the Nanning New and High-tech Development Zone between 1988 when the zone was designated and August this year. They generated a combined industrial output value of 6.8 billion yuan in the period. |
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