Brief Introduction
Established under approval of the State Counsel in Sep 1995, Cenxi City is located in Southeastern of Guangxi Province, east to Luoding, Guangdong, with a area of 2783 sqkm and a population of 760,000. It is the hub of transportation through Guangdong, Hong Kong and Macco.
Since 1992 the conference on reforming and opening of Guangxi held Cenxi, Cenxi is always line in the front of reforming and opening. Till Sep 2000, 107 foreign-oriented enterprises have set up in Cenxi with total investment of 3,080,000,000.
Incentive Policies:
Every enterprise within the territory of Cenxi (including foreign-invested enterprises, Hong Kong or Macco companies or other business entities, and individuals) can enjoy the preferential policies as follows:
¡ñ If a foreign-invested manufacturing enterprise operates for a period of more than 10 years, income tax will be refunded for the first two years beginning from the first year in profit and afterwards 30% of the paid income tax is refunded. If the foreign-invested manufacturing enterprises is exported-oriented and products exported reach 70% or above, the tax will reduce by a half from the third year in profit and payment will be refunded.
¡ñ If a foreign -invested enterprise operates within 3 years, general taxpayer will pay the VAT in accordance to tax regulations and 50% of the local tax paid will be refunded to the enterprise.
¡ñIf a foreign-invested enterprise is export-oriented enterprise or hi-tech enterprise; or if a foreign-invested enterprise engages in energy or transportation, or if a foreign-invested enterprise engaged in agriculture, forest, animal husbandry, or fishery , the tax paid will be funded.
¡ñ Foreign-invested enterprises are exempted from education surtax and city planning tax.
¡ñIf the enterprise is engaged in agriculture and invests in special fruit, the special product tax will be exempted for the first 3 years in profit.
¡ñ If the enterprise is engaged in breeding, planting, forestry, animal husbandry, or fishery, the product sales VAT will be exempted.
¡ñIf the enterprise is engaged in medicine or other welfare medicine services, the business tax is exempted.
¡ñ Tax reimbursement for VAT will be practiced for the export of products of foreign invested enterprise which is approved after January 1st, 1994.
¡ñ A foreign-invested enterprise will be granted a preferential entry to the local land, and land usage expense only imposes on land cost (excluding fees calculated by super government).
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