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Chinese City Takes Bold Steps to Attract Overseas Investors
Hangzhou, capital of east China' s Zhejiang Province, has recently increased the incentives for overseas businesses to invest in the city.
The city has decided that overseas investors will not have to pay for land rent for major infrastructure projects for the first five years from the day they obtained the right to use the land.
For overseas-invested educational, health and other non-profit projects, land will be allocated free of charge.
The city also offers preferential policies for overseas investment projects with a tenure of more than 10 years or a total investment of up to 1.5 million U.S. dollars.
The city even promised a 0.5 percent commission or award for people who successfully broker overseas investment projects, no matter whether the broker is an institution or individual, or even a government employee.
The city also listed overseas investment as a key item in assessing the performances of its officials.
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