Overseas Professionals on Major Industries to Receive Government Subsidies

Overseas Professionals on Major Industries to Receive Government SubsidiesOverseas professionals working in major industries in Qianhai will be getting subsidies from the government. The amount will be determined by the difference in he professional’s personal income taxes between overseas regions and the Chinese mainland. Income tax on subsidies will be exempted

Qianhai will also be constructing affordable housings located close to Metro stations that can be upgraded to high end apartments for these overseas professionals. Also preferential policies, and effective distribution system and incentives will be introduced as well. Tax policies will also be issued to companies that will meet certain requirements along with a 15 percent reduction on corporate income tax. Certificates issued by the Chinese mainland and Hong Kong authorities are recognized in Qianhai.

Also according to the provincial government the Nansha-Qianhai-Hengqin zone will be used as a model to pilot the country’s professional management by 2015. Once established the zone boasts of more than 100,000 international high end professionals working for the modern services industry. The Qianhai area will also have 50 domestic and international organizations that will create business and management head quarters that will also pilot a certification recognition system for these modern service industries.

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