Chapter 1: General Provisions
Article 1 These Measures are formulated in accordance with the “Notice of the General Office of the Changsha Municipal People’s Government on Issuing the <Several Policy Measures for Further Strengthening Investment Promotion in Changsha>” (Chang Zheng Ban Fa [2022] No. 53) and relevant regulations on the management of special fiscal funds in Changsha.
Article 2: The municipal funds for the implementation of all incentive provisions under these Measures shall be allocated from the Changsha Special Fund for Open Economy Development and Investment Promotion.
Article 3 These Measures apply to the use and management of special funds for investment promotion by the following entities within the administrative jurisdiction of the city: investment promotion projects (excluding real estate projects); municipal-level thematic investment promotion activities and small-team investment promotion activities organized or participated in by the Municipal Bureau of Commerce and the Municipal Investment Promotion Service Center; investment promotion intermediary organizations, business associations, and natural persons (government entities and personnel at all levels not funded by fiscal appropriations); and all districts, counties, and cities (including industrial parks, development zones, and industrial chain offices).
Article 4: The implementation of the incentive policies set forth in these Measures shall adhere to the principles of legality, compliance with regulations, fairness, impartiality, and transparency. It shall prioritize key areas, serve as a model and guide, emphasize effectiveness, maintain total expenditure control, and ensure dedicated use of funds, while encouraging various entities to voluntarily apply based on their actual circumstances.
Article 5 The Municipal Bureau of Commerce, the Municipal Bureau of Finance, and the commerce (investment promotion) and finance departments of each district, county, and city (including industrial parks) shall jointly manage, utilize, and supervise the Changsha City Investment Promotion Fund in accordance with their respective responsibilities.
1. The Municipal Bureau of Commerce is primarily responsible for compiling the annual budget and annual usage plan for the special funds; providing operational guidance and managing projects; organizing project applications, reviews, and evaluations; drafting fund allocation plans; publicizing relevant information; supervising and managing the use of the special funds; and organizing project performance evaluations.
2. The Municipal Finance Bureau is primarily responsible for reviewing the annual budget for the special funds, issuing budget approvals, assisting with project applications, participating in the formulation of fund allocation plans, issuing budget quotas and disbursing funds in accordance with procedures, and conducting supervision, inspection, and key performance evaluations of fund usage.
3. The commerce (investment promotion) and finance departments of each district, county (city), and industrial park are responsible for organizing project applications, reviews, and supervision within their jurisdictions; conducting performance evaluations as required; strengthening follow-up oversight of projects; and ensuring the safe and efficient use of fiscal incentive funds.
Article 6: Project applicants must be legally registered in Changsha City, possess independent legal person status (banking, securities, and insurance enterprises must be legally registered and tax-paying entities in Changsha City and maintain independent accounting), and must not be listed on the Changsha Public Credit Information Platform’s blacklist for dishonesty. Relevant supporting documents for project applications shall be provided by the applicant in accordance with the principle of “whoever applies is responsible,” and the applicant shall be accountable for the authenticity of the materials.
Chapter II Basic Concepts
Article 7: Advanced manufacturing refers to industries with a conversion coefficient exceeding 50% as defined in the “Notice of the Hunan Provincial Bureau of Statistics and the Hunan Provincial Department of Industry and Information Technology on Issuing the <Hunan Provincial Advanced Manufacturing Statistical Monitoring System (Trial)>” (Xiang Tong [2021] No. 75).
Article 8: “Fortune Global 500,” “China’s Top 500 Enterprises,” and “China’s Top 500 Private Enterprises” refer to enterprises listed in the rankings published by *Fortune* magazine, the China Enterprise Confederation, and the All-China Federation of Industry and Commerce, respectively, over the past three years.
Article 9: The term “production-oriented foreign trade enterprise” as used in these Measures specifically refers to production enterprises established in Changsha that possess independent legal person status, whose products are primarily for import and export, and whose import and export trade volume data are included in the city’s statistics.
Article 10: Fixed-asset investment includes investments in fixed assets, construction-in-progress not yet capitalized, factory buildings, office buildings, equipment, and other fixed assets; it excludes land purchase costs, rent for leased land (or real estate), and corporate working capital. Operating revenue includes revenue from core business operations and revenue from other business operations.
Chapter III: Eligibility Criteria and Support Measures
Article 11: Rewards shall be granted to newly introduced advanced manufacturing projects that receive an “Excellent” rating in the comprehensive evaluation. The following conditions must be met:
1. The project must meet the definition set forth in Article 7 of Chapter 2, “Basic Concepts”;
2. The total project investment is no less than 1 billion yuan, and no less than one-third of the registered capital has been paid in;
3. The project undergoes a comprehensive assessment on a 100-point scale covering investment intensity, technological content, economic contribution, development prospects, and progress status, with a total score of 90 points or higher. The assessment criteria and scoring standards are set forth in Appendix 4;
4. Projects that meet the above conditions within three years of registration.
Support Measures: Rewards will be granted based on the project’s comprehensive evaluation score, with a maximum one-time reward of 10 million yuan.
Article 12: Conditions that must be met to receive rewards for investment projects (excluding real estate projects) by companies listed in the Fortune Global 500, China’s Top 500, or China’s Top 500 Private Enterprises:
1. Meet the definition set forth in Article 8 of Chapter II, “Basic Concepts”;
2. The project must be a non-real estate investment made by a Fortune Global 500, China 500, or Top 500 Private Enterprise in Changsha for the first time. The determination of “first-time investment” shall be based on the opinion of the Changsha Municipal Market Supervision Administration; for banking, securities, and insurance enterprises, the determination shall be based on the joint opinion of the Changsha Municipal Market Supervision Administration and the Financial Work Office of the Changsha Municipal People’s Government;
3. Within two years from the date of registration (or equity change), the paid-in registered capital reaches 20 million yuan (inclusive) or more; for banking enterprises, the到位operating capital must be 100 million yuan (inclusive) or more; for securities and insurance enterprises, the value of real estate assets must be 20 million yuan (inclusive) or more;
4. The investor must be a company listed on the Fortune Global 500, China 500, or Top 500 Private Enterprises lists, or a wholly-owned or controlled subsidiary thereof;
5. The entity must be legally registered and pay taxes in Changsha City.
Support Measures: For initial investment projects by overseas Fortune 500 companies, domestic Fortune 500 companies, China’s Top 500 companies, and China’s Top 500 Private Enterprises that meet the above conditions, a one-time incentive of up to 10 million yuan, 8 million yuan, 6 million yuan, or 3 million yuan, respectively, will be granted to their enterprises in Changsha. The specific amount will be determined based on a comprehensive assessment of the total special fund allocation, the project’s industry category, industrial focus, and economic contribution.
Article 13: To be eligible for rewards for investment projects by manufacturing-oriented foreign trade enterprises in Changsha, the following conditions must be met:
1. Meet the definition set forth in Article 9 of Chapter II, “Basic Concepts”;
2. Actual import and export volume in the year prior to the application must reach US$20 million or more;
3. The project’s tax revenue per mu (including taxes collected on behalf of customs) reaches the citywide average;
4. The manufacturing-oriented foreign trade enterprise must meet the above conditions within two years of its registration.
Support Measures: Newly introduced manufacturing-oriented foreign trade enterprises meeting the above conditions shall receive a one-time reward of 2 million yuan. For every additional 5 million USD in actual import and export volume in the current year, the reward shall increase by 500,000 yuan, with a maximum total reward of 5 million yuan.
Article 14: Rewards shall be granted to existing host or supporting enterprises in Changsha that successfully attract affiliated enterprises to invest and establish factories in Changsha. The following conditions must be met:
1. The role of the host or supporting enterprise in attracting the investment must be confirmed by the investor, the commerce (investment promotion) department of the district, county (city), or industrial park where the project is located, and the Municipal Bureau of Commerce;
2. For enterprises investing in Changsha from outside the city (including overseas), fixed-asset investment (as defined in Article 10) must not be less than 30 million yuan within a single fiscal year;
3. The project must commence production, operations, and tax payments.
Support Measures: The original host or supporting enterprise in Changsha shall be rewarded with 5‰ of the newly introduced enterprise’s fixed-asset investment from the previous year, as reported at the time of application. This reward shall be granted for a maximum of three consecutive years, with a total maximum reward of 1 million yuan over the three-year period.
Article 15: Conditions that must be met to grant rewards to commissioned investment promotion agencies that have significantly facilitated the establishment of projects:
1. The agency must be an investment promotion agency commissioned by the Office of the Municipal Leading Group for the Development of an Open Economy and approved by the Municipal People’s Government;
2. The commissioned investment promotion agency must provide no fewer than 12 valid project leads within the contract period (12 months) and facilitate a cumulative total of fixed-asset investment of no less than 400 million yuan (inclusive) or actual foreign capital到位 of no less than 60 million USD (inclusive).
Support Measures: Commissioned investment promotion agencies that meet the above conditions shall be granted rewards based on the total fixed-asset investment or the total amount of actual foreign capital到位, with a maximum annual reward of 500,000 yuan.
Article 16: Conditions for granting rewards to districts, counties (cities), and industrial parks for newly introduced major investment projects:
1. The total project investment must be no less than 1 billion yuan and must be filed with and recognized by the Municipal Bureau of Commerce;
2. In the year of application, the enterprise’s cumulative paid-in registered capital must be no less than 70%;
3. Within three years of registration, the enterprise must develop into a large-scale industrial enterprise or a retail enterprise above the designated threshold, as determined by the Changsha Municipal Bureau of Industry and Information Technology and the Changsha Municipal Bureau of Statistics;
4. The project must be in production and operation.
Support Measures: The people’s governments of districts, counties (cities), or park management committees where projects meeting the above conditions are located shall be granted a reward of up to 50% of the project’s contribution to the municipal fiscal revenue, for a maximum of three consecutive years, with a total reward not exceeding 10 million yuan over the three-year period.
Article 17: For municipal-level specialized investment promotion events and small-team investment promotion activities organized or participated in by the Municipal Bureau of Commerce and the Municipal Investment Promotion Service Center, support shall be provided based on the actual circumstances of the event, subject to approval by the Municipal People’s Government. Investment promotion ambassadors, consultants, and specialists participating in the aforementioned activities shall be provided with support in accordance with the “Notice of the Changsha Municipal Leading Group for the Development of an Open Economy on Issuing the <Measures for the Appointment of Investment Promotion Ambassadors, Consultants, and Specialists in Changsha>.”
Article 18: For investment promotion activities conducted by professional investment promotion agencies, business associations, consulting firms, and other entities commissioned by the Municipal People’s Government, support shall be provided based on the actual circumstances of the activities and subject to approval by the Municipal People’s Government, with a maximum support amount of 1 million yuan.
Article 19: Relevant funding for digital investment promotion activities conducted by the Municipal Bureau of Commerce and the Municipal Investment Promotion Service Center shall be guaranteed upon approval by the Municipal People’s Government. Districts, counties (cities), and industrial parks are encouraged to jointly build and share relevant resources.
Article 20. Support shall be provided to industrial parks and industrial chain offices to strengthen industrial research, undertake key research projects, and provide industrial analysis reports based on the development of the city’s key industries.
Article 21: Rewards shall be granted based on the actual performance of investment promotion work by the commerce (investment promotion) departments of districts, counties (cities), national-level industrial parks, and provincial-level industrial parks.Comprehensive evaluations will be conducted across four categories—the Inner Four Districts, the Chang-Wang-Liu-Ning region, national-level industrial parks, and provincial-level industrial parks—based on the signing rate, fulfillment rate, and capital disbursement rate of key investment projects; the introduction of major investment projects and “Top 500 in Three Categories” projects; the number of projects in the pipeline and their successful implementation; the implementation of the “Hunan Businessmen Returning Home” initiative; and the utilization of foreign capital. The entity ranked first in the annual comprehensive ranking for each category will be awarded a maximum of 500,000 yuan.
Article 22: Foreign-invested enterprises are encouraged to invest through new establishment, capital increases, equity mergers and acquisitions, and reinvestment of profits, and shall be supported in accordance with municipal-level special policies for foreign investment.
Chapter IV: Application Materials
Article 23. Enterprises or entities applying for special funds shall submit application materials comprising basic information and categorized documents. These materials shall be bound into a single volume and bear the official seal. The final requirements for application materials shall be subject to the provisions of the application notice.
Article 24 Basic materials include:
1. Changsha City Investment Promotion Fund Enterprise Application Form (Appendix 1);
2. Application Report. Submitted by the applicant enterprise, the report shall include basic information such as the specific funding item applied for, the enterprise name, an enterprise profile, investment details, construction commencement or production/operational status, and contributions to the economy and society, as well as an explanation of compliance with the funding requirements. It must be signed by the legal representative of the applicant enterprise and bear the official seal of the entity (the application report shall not exceed 1,000 words);
3. A written commitment from the applicant enterprise regarding the authenticity and legality of the materials submitted for the project (Appendix 2);
4. A copy of the applicant company’s business license, stamped with the company’s official seal;
5. Tax payment documentation for the applicant company (applicants who have not yet paid taxes must provide an explanatory statement).
Article 25. Categorized Materials for Applications for the “Reward for Newly Introduced Advanced Manufacturing Projects”:
1. A copy of the signed project contract;
2. Application Form for Comprehensive Assessment of Newly Introduced Advanced Manufacturing Projects (Attachment 3);
3. Self-Assessment Form for the Comprehensive Evaluation of Newly Introduced Advanced Manufacturing Projects (Appendix 4);
4. Planning Verification Confirmation Letter or Real Estate Ownership Certificate (not required for projects that have not purchased land);
5. Proof of fixed assets. The following must be provided simultaneously: (1) Fixed Asset Detail Sheet (specifying the category and amount of fixed assets, with a total summary; see Attachment 5); (2) Purchase contracts and invoices; (3) Bank deposit slips and bank account transaction statements (originals);
6. Proof of Funds Received. The following three documents must be provided for the period from the date of the first fund disbursement through the subsequent calendar year (e.g., if the first funds were received on March 1, 2022, relevant supporting documents from that date through March 1, 2023, must be provided): ① Detailed Statement of Funds Received (must specify the date, amount, and payer for each disbursement, and provide a total summary; see Attachment 6);② Bank receipts for received funds (originals); ③ Bank account transaction statements for received funds (originals). Alternatively, a complete and compliant capital verification report may be provided, accompanied by a confirmation letter for monetary funds and bank deposit slips;
7. An audit or attestation report on the enterprise’s research and development expenses for the most recent fiscal year, issued by a qualified intermediary;
8. Financial accounting reports for the enterprise’s most recent fiscal year, attested by a qualified intermediary (including financial statements, notes to the financial statements, and a statement of financial position);
9. A statement of total employee wages or the company’s social insurance list (accompanied by copies of the academic credentials and professional titles of high-level talent);
10. Relevant documentation for personnel meeting the criteria for Categories A, B, C, or D as specified in the “Changsha City Classification and Recognition Directory for High-Level Talents”;
11. Relevant proof that the product’s technological level is at the forefront of science and technology or that the enterprise has been designated as a National High-Tech Enterprise;
12. Proof that the enterprise possesses R&D and innovation institutions, including Manufacturing Innovation Centers, Technology Innovation Centers, Industrial Innovation Centers, Enterprise Technology Centers, Engineering Research Centers, Engineering Technology Research Centers, Industrial Design Centers, National-Local Joint Engineering Research Centers, branch centers of national-level R&D institutions, engineering laboratories, key laboratories, new-type R&D institutions, national or industry-specific research institutes, and National Technology Innovation Demonstration Enterprises;
13. Other relevant supporting documents.
Article 26. Categorized documentation for applying for the “Reward for Investment Projects in Changsha by Fortune Global 500, China’s Top 500, and Top 500 Private Enterprises (excluding real estate projects)”:
1. Text of the signed project contract (copy);
2. Equity structure diagram of the parent company and the applicant entity;
3. Supporting documents proving that the applicant enterprise is a “Fortune Global 500, China’s Top 500, or Top 500 Private Enterprise”;
4. Capital verification report issued by a legally authorized capital verification institution, accompanied by a confirmation letter for monetary funds and bank deposit slips; for securities and insurance enterprises, proof of real estate assets; for banking enterprises, proof of到位operating capital;
5. Other relevant supporting documents.
Article 27. Categorized Materials for Applying for the “Incentive for Foreign Trade Enterprises Engaged in Investment and Production in Changsha”:
1. A copy of the Foreign Trade Operator Filing Registration Form (stamped with the official seal);
2. A copy of the Certificate of Registration as a Customs Declaration Unit of the People’s Republic of China (stamped with the official seal);
3. Proof of import and export volume (bearing the official seal);
4. Other relevant supporting documents.
Article 28. Required documents for applying for the “Incentive for Attracting Affiliated Enterprises to Invest and Establish Factories in Changsha”:
1. Project intermediary certification materials provided by the introduced enterprise (Appendix 7);
2. A statement regarding the intermediary issued by the commerce (investment promotion) department of the district, county (city), or industrial park;
3. Text of the signed contract for the introduced project (copy);
4. Supporting documents proving the project has commenced production and operations;
5. Proof of capital disbursement (consistent with the requirements in Article 25, Item 6);
6. Other relevant supporting documents.
Article 29. Categorized materials for applying for the “Reward for Significant Achievements in Facilitating Project Implementation by Entrusted Investment Promotion Agencies”:
1. Text of the signed contract for the introduced project (copy);
2. Supporting documents for the fixed assets of the introduced project (consistent with those described in Item 5 of Article 25);
3. Documentation verifying the到位 funds (consistent with Item 6 of Article 25);
4. Other relevant supporting documents.
Article 30. Categorized materials for applying for the “Reward for Newly Introduced Major Investment Projects by Districts, Counties (Cities), or Industrial Parks”:
1. Application Form for the Reward for Newly Introduced Major Investment Projects in Districts, Counties (Cities), and Industrial Parks (Appendix 8);
2. Text of the signed project contract (copy);
3. Capital verification report issued by a legally authorized capital verification institution, accompanied by a confirmation letter for monetary funds and bank deposit slips;
4. Total taxes paid by the enterprise within one year of commencing operations, details of remittances to the municipal treasury, and relevant supporting materials;
5. Other relevant supporting documents.
Article 31: For projects listed in Articles 17 through 21 of these Measures, no application materials need to be submitted. The Municipal Bureau of Commerce and the Municipal Investment Promotion Center shall, based on actual work requirements, submit such projects to the Municipal People’s Government for approval.
Chapter V: Application and Approval Procedures
Article 32. Projects Applied for Under the Project-Based Approach
1. Project Application. Projects under Articles 11 through 16 of these Measures shall be applied for in accordance with the Project Law. The Municipal Bureau of Commerce, in conjunction with the Municipal Bureau of Finance, shall publicly issue a project application notice annually, specifying the scope of support, application procedures, and relevant requirements. Applicant entities shall submit application materials in a timely manner in accordance with the requirements of the special fund application notice.
2. Preliminary Review of Projects. The commerce (investment promotion) departments and corresponding finance departments of each district, county (city), and industrial park shall conduct a joint preliminary review of the submitted projects, formulate preliminary review opinions, formally submit a joint written report to the Municipal Bureau of Commerce and the Municipal Finance Bureau, and complete the preliminary review procedures on the Changsha Municipal Special Fund Comprehensive Management Platform.
3. Departmental Review. The Municipal Bureau of Commerce will conduct a re-examination of projects submitted by national-level industrial parks, districts, counties (cities), and other entities; engage a third-party institution to conduct an evaluation; and issue an evaluation report.
4. Government Approval. The Municipal Bureau of Commerce, in conjunction with the Municipal Finance Bureau, shall draft a fund allocation plan based on the re-examination and evaluation opinions, and submit it to the Municipal Government for approval.
5. Public Notice of Results. The Municipal Bureau of Commerce and the Municipal Finance Bureau will publish the funding allocation plan approved by the Municipal Government on the Changsha Special Fiscal Funds Comprehensive Management Platform and the Changsha Municipal Bureau of Commerce website. Upon expiration of the public notice period, the Municipal Bureau of Commerce will issue a statement regarding the public notice.
6. Centralized Disbursement. Upon the conclusion of the public notice period without objection, the Municipal Bureau of Commerce and the Municipal Finance Bureau will disburse funds to the relevant districts, counties (cities), and industrial parks based on the final fund allocation plan approved by the Municipal People’s Government and the results of the public notice. The districts, counties (cities), and industrial parks will then disburse the funds to the enterprises in accordance with established procedures (in principle, the applicant enterprises should have commenced operations or begun project construction).For projects newly registered within the current year, the preparation and commencement period (or the construction commencement period for construction projects) may be extended until November 30 of the following year. Special funds will be disbursed to the applicant enterprise only after the project commences operations (or construction); if the project fails to commence operations (or construction) by the deadline, the incentive funds will be reclaimed by the municipal treasury.
7. Performance Evaluation. The Municipal Bureau of Commerce, along with the commerce (investment promotion) departments of national-level industrial parks, districts, counties (cities), and other relevant entities, shall conduct regular performance evaluations of the special funds and strengthen the application of evaluation results.
Article 33. Projects Supported Based on Actual Investment Promotion Circumstances. In accordance with Articles 17 through 21 of these Measures, support shall be provided to project entities (or individuals) based on requests submitted by the Municipal Bureau of Commerce and the Municipal Investment Promotion Center to the municipal government and approved by municipal leaders.
Chapter VI: Supervision and Management of Special Funds
Article 34. The Municipal Finance Bureau, the Municipal Commerce Bureau, and the finance and commerce (investment promotion) departments of each district, county (city), and industrial park shall strengthen the management of special funds, conduct regular supervision and inspections of fund usage, and ensure that special funds achieve their intended benefits; the Municipal Finance Bureau and the finance departments of districts, counties (cities) shall conduct performance evaluations of key projects based on the performance evaluations of the competent authorities, and strengthen the application of performance evaluation results.
Article 35. Entities receiving special funds shall strengthen internal management; special funds shall be used exclusively for their designated purposes; application and review materials shall be properly preserved; and complete records shall be established.
Article 36. All departments, project units, and individuals shall proactively accept supervision and inspections by relevant authorities. Enterprises serving as project implementation units shall be responsible for the authenticity of project application materials. Illegal acts such as withholding, misappropriating, or fraudulently obtaining special funds shall be handled in accordance with the "Regulations on the Penalties and Disciplinary Actions for Fiscal Law Violations" (State Council Order No. 427) and relevant provisions of Changsha City regarding the management of special fiscal funds. Where criminal suspicion exists, the case shall be transferred to the competent authorities for handling.
Chapter VII: Supplementary Provisions
Article 37. Investment projects that significantly promote the city’s industrial development shall be supported on a case-by-case basis in accordance with relevant policies.
Article 38: Where a single project under these Measures meets the criteria for multiple incentive provisions, the incentives may be stacked, provided the cumulative incentive amount does not exceed 20 million yuan (excluding “case-by-case” projects). If the total calculated incentive amount for the current year exceeds the annual total of Changsha’s Special Investment Promotion Fund for Open Development, the amount shall be adjusted proportionally.
Article 39. A single project or matter may benefit from both provincial and municipal policies. Where such policies overlap with or are similar to other Changsha municipal support policies, the entity and project shall be subject to the principle of “choosing the higher benefit” and avoiding duplicate benefits.
Article 40. The people’s governments of each district, county (city), and the management committees of industrial parks may, based on local conditions and within the scope of the law, formulate preferential investment promotion policies conducive to advancing local economic and social development. The people’s governments of each district, county (city), and the management committees of industrial parks are encouraged to innovate investment promotion methods and formulate policy measures conducive to stimulating the initiative of various investment promotion entities.
Article 41. These provisions shall apply to the directly administered and entrusted areas of the Hunan Xiangjiang New Area, and the required incentive funds shall be borne by the Hunan Xiangjiang New Area Administrative Committee.
Article 42. These Measures shall take effect on May 15, 2023, and reward funds shall be disbursed annually.
Article 43. These Measures shall be interpreted by the Municipal Bureau of Commerce in conjunction with the Municipal Bureau of Finance, which shall also take the lead in coordinating the resolution of specific issues arising during implementation. These Measures may be adjusted as appropriate based on implementation results.
