Profile

        The Ningbo Hi-Tech Park is a new and hi-tech park area jointly created by the Chinese Academy of Sciences and the municipal government of Ningbo in 1999. The planned area of the Park Area is 32 square kilometers. Located by the side of the city proper, the park is at the center of future urban area under the city's overall development plan.

Investment Environment

Power supply: Adequate power supply ensured by two transformer substations of 220KV and 110KV respectively.

Water supply: Adequate water supply from urban water piping system of 660mm, 1000mm and 1200mm.

Sewage system: Separate sewage systems for rainwater and sewage in the park.Jiangdong Sewage Disposal Plant with the capacity of 350,000 tons.

Gas supply: An LPG pipe network in use. LNG, a more environment-friendly type of energy from the East China Sea to be used in the park.

Post and telecommunications: Complete post and telecommunications. An ex-change system for 80,000 programme controlled telephones and a complete set of exclusive DDN access facilities.

        The 14 Universities with 71,100 students in school and the Long-distance educational support established by 7 prestigious universities provide 20,000 graduates, Middle-level vocational and technical schools provide 7,300 polytechnic students annually.

        Ningbo human source market is one of the nationwide human source markets in China. A population of 1 million peripheral can meet various requirements of the
different enterprises.

Preferential Policies

Tax policies for foreign-invested enterprises

        Newly-built foreign-invested hi-tech enterprises with the operation period of ten years or above can be exempted from its corporate income tax for the first two profit-making years and enjoy half reduced corporate income tax during the three years that ensued.

        After expiry of the tax reduction and exemption period, foreign-invested export oriented enterprises may enjoy a reduced corporate income tax rate of 10% upon approval from competent authorities provided that their annual turnover from product export accounts for over 70% of their total output value during the year

        After verification as such, a newly built software enterprise may be exempted from its corporate income tax for the first two years since the profit-making year and enjoy half reduced corporate income tax during the three years that ensued. Before 2010, the actual VAT amount in excess of 3% shall be collected from and then refunded to the enterprise.

        For an IC manufacturing enterprise, the actual VAT amount in excess of 6% shall be collected and then refunded to the enterprise before 2010.

        An enterprise may be exempted from customs duties and import-related VAT for importation of e-equipment necessary for its own use and accompanying technologies (including software), accessories and spare parts for an amount less than its total investment, provided that the imported items fall in the encouraged or restricted categories of projects provided with in the Guiding Project Categories for Foreign Investment.

Financial Policies

        The park shall grant certain financial subsidies to hi-tech projects in the park, such as the subsidies for the project construction, subsidies for R&D center, subsidies for loan interest. Ningbo Hi-tech Park will provide assistance for the enterprises to get the bank loan.

        The Hi-tech Entrepreneurship Center has established an incubation fund to render special support to promising incubation projects that settle in the park for industrialization and commercialization.

        The park has established a Hi-tech Youth Entrepreneurship Fund to which the Administrative Committee of the park and Ningbo Science and Technology Bureau contribute RMB5 million annually. By means of low-interest, interest-free or discount loans or share holding, the fund is intended mainly to render financial support to technical personnel who bring their own projects to the park.

Service

Enterprise registration: The procedures for industrial and commercial registration, customs registration, tax registration and foreign currency registration shall be handled by special persons.

Banking: The procedure for opening bank account and foreign exchange could be consigned to the banks in the park. Talents Invitation£ºCould be commissioned the Labor Employment Center. Varied talents home or abroad could be introduced to start business in the park through the Zhejiang Hi-tech Talents market.

Factory Building Construction: Construction Bureau handles the land planning, examination and approval; and the procedures for projects application for approval and acting as agency for bidding.

Operating: Regularly visit the operating enterprise and solve the difficulties could be met.