Shenzhen City, Accelerating the Development of Private Economy Opinion

Issued: May 16 2003
Effective: as of date of issue

Main contents: The Opinion aims to recognize the importance of the private businesses and proposes a number of preferential measures to assist such businesses and relax the restrictions to facilitate their development. It encourages such businesses by introducing a "strongest-50-scheme", in which the best 50 enterprises will benefit from favourable policies (Item Five). Well-known Chinese trademarks and recognized Chinese name brands are entitled to reward of Rmb1 million (Item Seven). Subsidies, exemptions and favourable treatments are offered to encourage such businesses to develop the domestic market, develop into listed companies, participate in State-owned enterprise restructuring, specialize in their fields, establish headquarters in Shenzhen and absorb the unemployed (Items 8-13). Major supports are made to the development of science and technology, foreign-orientated and logistics private enterprises. A special project fund is set up for assisting small- and medium-sized private enterprises and further financing and tax supports are offered. Complaint and supervision mechanisms will be set up.
Related legislation: Guangdong Province, Accelerating the Development of Private Economy Decision, 2003