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Interim Measures of Tianjin Port Free Trade Zone on Award for Encouraging the Social Intermediaries to Attract Investment
JBGF [2004] No. 11
Investment attraction is the lifeline of local economic development. These Measures are hereby formulated to widely mobilize the social forces to attract investments in the Free Trade Zone.
Article 1 To set up the Free Trade Zone Investment Attraction Award Leading Group. The Group Leader shall be acted by Comrade Wang Fuqiang, the Deputy Director of Management Committee; the Deputy Leader of the Group by Comrade Zhou Li , the Deputy Directors of the Management Committee, and Wei Yongjiu; and the group members by the leaders from the Bureau of Finance, Trade and Industry Bureau, Labor and Personnel Bureau, Investment Department of T&B Holding Co., Ltd., Economic Development Bureau, Trade Market Bureau, Logistics Development Bureau, Investment Promotion Bureau, Corporate Affairs Bureau, Planning and Construction Management Bureau and Social Development Bureau. Under the Group is set Investment Attraction Award Office, which is located at the Labor and Personnel Bureau.
Article 2 Intermediate award will be granted to persons who recommend projects to the Free Trade Zone according to such standards:
1.                  The projects registered in the Free Trade Zone shall be awarded by 3 of actual received registered capital.
2.                  The settled projects (with over USD 3 million of registered capital and over 10,000 sqm of purchased land or over 1,000 sqm of leased garage in the Area, ibid) will be awarded by 5.5 of actual received registered capital; for industrial projects attracted and settled in the Area which are the Fortune Global 500 Enterprises or the national identified high-tech projects shall be awarded by 6 of actually received registered capital.
3.                  Moreover, the one-time special award shall be granted as the case may be. The Finance Bureau of the Free Trade Zone will withhold and pay individual income tax from the above award.
Article 3 On receipt of the first batch of funds by the registered project, 25% of total award will be issued, and the rest award will be issued according to the percentage of received total funds. For registered funds of less than USD 1 million, the award withdrawal period is six months, USD 1-2 million one year and over USD 2 million three years
Article 4 The award shall all be paid by RMB. The foreign exchange rate between the foreign currency and RMB shall be converted according to the current foreign exchange quotation announced by Peoples Republic of China on the date of funds withdrawal and payment.
Article 5 The Management Committee or authorities responsible for project liaison shall submit application to the Investment Attraction Award Office and complete investment attraction award funds application form for approval, and the Investment Attraction Award Office shall submit the application to the Investment Award Leading Group for approval.
Article 6 The investment attraction award funds shall be granted by the financial authority of the Area, managed and issued by the Bureau of Finance and approved by the Investment Attraction Award Office on the basis of special account for special purpose.
Article 7 Employees of the headquarters of the Management Committee and the direct-controlled public institutions thereof and the employees under T&B Holding Co., Ltd. shall not be deemed as award targets of these Measures. Other CPC Party and government employees are not deemed as award targets of these Measures.
Article 8 The intermediate persons who introduce the projects shall only be awarded at the initial registration of the introduced projects, while the capital increase for the introduced projects will no longer be awarded.
Article 9 In the event that during declaration for intermediate award, employees of the headquarters of the Management Committee and the direct-controlled public institutions thereof and the employees under T&B Holding Co., Ltd. personally cheat or assist others in cheating, when proved, it will lead to disqualification of the applicants and claim back amounts and administrative penalty of the working staff.
Article 10 These Measures shall be interpreted by the Investment Attraction Award Office authorized by the Management Committee of the Free Trade Zone.
Article 11 These Measures will go to effect on January 1, 2004.
February 18, 2004
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