Jiangsu Provincial Rudong Economic Development Zone
Business Environment
Incentives
| Items | Tax Rates |
|---|---|
| Value Added Tax(VAT) | 1. Basal tax rate of 17% on selling and importing goods; 2. 13% on the supply grain & oil, feedstuffs and agrochemical products, etc; 3. Zero tax on exports（except otherwise stated by the State Council）; 4.17% on the supply of services for processing, repairing and replacement; |
| Corporate Income Tax(CIT) | 1. 25% generally; 2. 15% after the company′s successful application of becoming a high-tech company; |
| Business Tax | 1. 3% on sectors including transportation, construction, finance, post & telecommunications, cultural and physical undertaking; 2. 5-20% on the entertainment sector; 3. 5% on the services sector; 4.5% on the transferring intangible assets; 5.5% on selling real estates; |
| Import Tax | Duty free on equipments, technology and rational amount of components imported by a project falling within the “encouraged” category of the catalogue of Industries for Guiding Foreign Investment (except otherwise stated in the Catalogue for Foreign Investment Projects of Import Commodities Not Exempted from Tax). |
Competitive Industries
Wind Power Generation
Rudong has a coastline of 106 kilometers with abundant wind resource. Recently, the largest wind power generation farm in Asia has been established in Rudong. The companies engaged in the wind power generation such as, Vestas, Denmark; Fuhrlander Co., Ltd, Mingyang Wind Power Generation Co., Ltd; Xinyuan Wind Power Generation Co., Ltd have settled down in the zone one after another.
Photoelectrics
As the shortage of global energy becoming more and more serious, the photoelectric industry is a rising sun industry. Hong Kong Zhongzheng Company has invested and settled in the park. It produces 500 MW of Non-crystalline thin film PV cells annually.
Petroleum Exploration Complete Equipment
The petroleum exploration machinery industry is a conventional industry of our county, which has a quite well basic infrastructure. According to the method of combining manufacturing, academic and R&D, we have cooperated with Petroleum-machinery College of Lanzhou University and attracted small and medium sized enterprises in order to develop a powerful and strong petroleum machinery industry. Now enterprises such as Tongyong Machinery Co., Ltd, Aoer Machinery Co., Ltd and Lianfeng Petroleum Exploration Machinery Co., Ltd have already settled in the park.
Automotive Electronic Information
Rudong Economic Development Zone, as located in the Yangtze River Delta, has excellent conditions for the development of the automotive electronic information industry. Now enterprises such as Jiangsu Huidong Auto Electronic Co., Ltd, Jiangsu Heming Auto Equipment Co., Ltd has stationed and invested in the park for production.
IOT (Internet of Things)
IOT is a promising industry and has a big market in China. Rudong Economic Development Zone cooperates with the Sensor Center of Tsinghua University. Now companies like Baihua Electronics and Tianyi Intelligent Facilities have settled down. Their products are applied in the fields of electric network, safeguarding, environment protection, healthcare and etc.
