Original Title: Notice Issued by the Office of the Jinhua Municipal People’s Government on the Issuance of Several Opinions on Promoting the High-Quality Development of Jinhua’s Open Economy
People’s Governments of All Counties (Cities, Districts), Relevant Departments of the Municipal Government:
The "Several Opinions on Promoting the High-Quality Development of Jinhua’s Open Economy" has been approved by the Municipal Government. It is hereby issued to you for earnest implementation.
Office of the Jinhua Municipal People’s Government
May 21, 2024
(This document is publicly released)
Opinions on Promoting the High-Quality Development
High-Quality Development
To thoroughly implement the decisions and plans of the central and provincial governments regarding the promotion of high-quality trade development, to vigorously carry out the “No. 1 Opening-up Project” for the upgrading and enhancement of the “Sweet Potato Economy,” and to promote high-level opening-up across the city, the following policy recommendations are put forward.
I. Vigorously Expand International Markets
Deepen the “100 Delegations, 1,000 Enterprises Expanding Markets” initiative. From 2024 to 2026, the city will organize a cumulative total of 300 delegations and more than 10,000 enterprise visits to expand markets overseas, and support more than 300 key exhibitions.
(1) Support enterprises in participating in international exhibitions. For enterprises participating in key domestic exhibitions listed in the annual exhibition directory, provide funding of up to 50% per standard booth. For enterprises participating in key overseas exhibitions listed in the annual exhibition directory, provide funding of up to 70% per standard booth; for participation in other overseas exhibitions, provide funding of up to 50% per standard booth.Funding for a single booth shall not exceed 30,000 yuan. Each enterprise is eligible for funding for up to four booths at the same exhibition, with annual funding for booth fees not exceeding 300,000 yuan per enterprise (excluding group participation). For enterprises with annual exports exceeding 10 million USD, annual funding for booth fees shall not exceed 500,000 yuan (excluding group participation). The annual exhibition directory is dynamically adjusted each year and is determined and published by the Municipal Bureau of Commerce.
(2) Support for Group Participation and Independent Exhibition Organization. For overseas exhibitions initiated or organized by trade associations to facilitate collective participation by enterprises, differentiated exhibition subsidies will be implemented, with the total annual funding for group participation not exceeding 6 million yuan; for overseas exhibitions independently organized by trade associations, funding of up to 100% of the cost per standard booth will be provided, with the maximum annual funding per exhibition capped at 2 million yuan.
II. Optimizing and Strengthening Foreign Trade
Actively promote high-quality imports and exports; achieve notable results in the development of key trade platforms; continuously strengthen new drivers of trade; maintain a foreign trade growth rate higher than the provincial average; and steadily increase the city’s share of national exports. By 2026, more than 30% of the city’s export enterprises will have their own brands for export; strive to achieve an import and export volume exceeding 1 trillion yuan; and increase the proportion of exports of mechanical and electrical products and high-tech products by more than 3 percentage points.
(3) Supporting High-Quality Trade Development. Fully leveraging local advantages, we will continuously optimize the trade structure and elevate development standards. Districts will receive annual rewards based on their contribution to trade, to be used in supporting local enterprises in developing foreign trade, cross-border e-commerce, and trade in services.
(4) Promote the development of independent brands.Support enterprises in registering overseas trademarks, obtaining international certifications, and applying for or acquiring overseas patents. Projects targeting emerging markets will receive up to 70% funding support, while projects targeting other markets will receive up to 50%. Specifically, a maximum reward of 15,000 yuan will be provided per registered overseas trademark; up to 15,000 yuan for quality management and environmental management system certifications; up to 80,000 yuan for occupational safety management, health management, and other management system certifications; up to 70,000 yuan for product certifications; and up to 35,000 yuan for overseas patent applications.Enterprises receiving the “Zhejiang Export Brand” or “Jinhua Export Brand” designation for the first time will be granted a one-time reward of 300,000 yuan and 100,000 yuan, respectively. Enterprises that pass the re-evaluation for the “Zhejiang Export Brand” and “Jinhua Export Brand” will be granted 50,000 yuan and 30,000 yuan, respectively. For the same enterprise holding both the “Zhejiang Export Brand” and “Jinhua Export Brand” designations, the reward will be based on the higher amount; rewards will not be cumulative.For “Jinhua Export Famous Brands” that fail to be designated as “Zhejiang Export Famous Brands” after two rounds of re-evaluation, the re-evaluation reward for that year will be revoked.
(5) Support for Customs Authorized Economic Operator (AEO) Certification. Support enterprises in obtaining Customs AEO certification. A one-time reward of 500,000 yuan will be granted to enterprises that obtain a Customs AEO certificate in the current year, and a reward of 50,000 yuan will be granted to enterprises that pass the Customs AEO re-evaluation in the current year.
(6) Support for Import Platform Development. Support will be provided for the development of import trade promotion and innovation demonstration zones and key import platforms. A reward of 500,000 yuan will be granted to those first designated as national-level, and 200,000 yuan to those designated as provincial-level.
III. Enhancing Trade Risk Prevention Capabilities
The city’s foreign-related service system will be further improved, and enterprises’ capacity to prevent foreign-related risks will be further enhanced. From 2024 to 2026, the city will organize more than 50 foreign-related legal service events, serve more than 2,000 enterprises, and increase the coverage amount of export credit insurance by more than 15%.
(7) Actively Addressing International Trade Frictions.Strengthen foreign-related legal services for enterprises, guide and coordinate enterprises in effectively responding to trade frictions, and improve the multi-stakeholder collaborative system for addressing trade frictions. Support legal service institutions in actively expanding their foreign-related legal service businesses and improving the quality of such services. Support the development of foreign-related legal professionals, encourage law firms to cultivate high-level foreign-related legal talent, and provide one-time rewards of 20,000 yuan and 10,000 yuan per person to law firms for lawyers selected into the national or provincial expert databases for foreign-related legal services, respectively.
(8) Support the establishment of early warning and monitoring points. Provide a one-time grant of 100,000 yuan to each newly established foreign trade early warning demonstration point or those passing the provincial annual assessment in the current year; those confirmed as “excellent” will receive an additional 100,000 yuan. Provide one-time grants of 300,000 yuan and 150,000 yuan, respectively, to municipal and county-level business operation survey and monitoring points that pass the provincial annual assessment; those confirmed as “excellent” will receive an additional 50,000 yuan.
(9) Increase support for export credit insurance.For small and micro enterprises with annual export values of less than $6 million that participate in government-consolidated export credit insurance programs, premiums will be fully subsidized; for enterprises purchasing short-term export credit insurance, subsidies will be provided for up to 80% of the actual premiums paid in the current year, with a maximum of 5 million yuan per enterprise; for enterprises purchasing medium- to long-term credit insurance, subsidies will be provided for up to 50% of the actual premiums paid in the current year, with a maximum of 500,000 yuan per enterprise;For enterprises expanding overseas that purchase overseas investment insurance, subsidies of up to 50% of the actual premiums paid in the current year will be provided, with a maximum of 500,000 yuan per enterprise; support will be provided for enterprises to utilize export credit insurance for financing, with interest subsidies equivalent to 50% of the actual loan amount and the one-year Loan Prime Rate (LPR) in effect during the most recent period.
IV. Encouraging the Development of New Trade Formats
Increase support for cross-border e-commerce initiatives such as “Global Store Expansion,” “Brand Globalization,” “Independent Platform Leadership,” overseas warehouse construction, and the development of trade in services to promote new forms and models of trade. By 2026, the city’s cross-border e-commerce import and export volume is expected to exceed 140 billion yuan, and the import and export volume of trade in services is expected to exceed 23 billion yuan.
(10) Encourage enterprises to expand into international markets through cross-border e-commerce. Cross-border e-commerce enterprises that achieve an annual transaction volume of US$1 million on third-party cross-border e-commerce platforms and report export customs declarations totaling US$50,000 via the online integrated service platform of the Cross-Border E-Commerce Comprehensive Pilot Zone under the cross-border e-commerce regulatory model will receive a subsidy covering 50% of the promotion, warehousing, and logistics costs incurred on third-party cross-border e-commerce platforms during the current year, with a maximum of 200,000 yuan per enterprise annually.
(11) Support cross-border e-commerce enterprises in conducting global promotion. Cross-border e-commerce enterprises with annual export value reaching US$1 million that promote products through self-built independent websites and drive traffic via overseas social media, search engines, and other digital platforms shall receive a subsidy equivalent to 50% of their annual promotion expenses (including website development and traffic acquisition costs), with a maximum of 200,000 yuan per enterprise per year.
(12) Optimize the development of the cross-border e-commerce ecosystem. Service institutions such as comprehensive cross-border e-commerce service centers are encouraged to engage in business incubation and cultivation. For those recognized by the local e-commerce authorities, a reward of 10,000 yuan will be granted for each enterprise successfully incubated or cultivated. For newly established projects by well-known third-party cross-border e-commerce platform enterprises, the municipal and district policies for attracting major projects will be implemented in accordance with regulations.
(13) Encourage excellence and innovation in the cross-border e-commerce sector. Entities first designated as provincial-level cross-border e-commerce industrial parks or provincial-level well-known cross-border e-commerce export brands will receive a one-time reward of 300,000 yuan. Enterprises first included in provincial-level public overseas warehouse construction pilot programs will receive a one-time reward of 200,000 yuan in addition to provincial support funds; enterprises first included in municipal-level public overseas warehouse construction pilot programs will receive a one-time reward of 200,000 yuan.
(14) Encourage the expansion and strengthening of trade in services. For entities first designated as national-level international trade in services export bases (parks), key enterprises, or key projects in trade in services, a one-time reward of 500,000 yuan will be granted to the applicant; for entities first designated as provincial-level international trade in services export bases (parks), key enterprises, or key projects in trade in services, a one-time reward of 300,000 yuan will be granted to the applicant.
V. Encouraging the Attraction of Foreign Investment
We will intensify efforts to attract and utilize foreign investment and expand channels for attracting foreign investment. From 2024 to 2026, we aim to ensure that the cumulative contracted foreign investment for newly signed projects across the city exceeds US$500 million annually, with the actual utilized foreign investment increasing by US$100 million each year.
(15) Encouraging Foreign-Invested Enterprises to Increase Investment. Tiered incentives will be provided to foreign-invested enterprises (excluding real estate and financial institutions) whose actual utilized foreign investment, as recorded by the Ministry of Commerce in the current year, reaches US$2 million or more. Specifically: for the portion between US$2 million (inclusive) and US$10 million, a reward of RMB 0.03 will be granted per US$1;for the portion between $10 million (inclusive) and $30 million, a reward of RMB 0.05 per dollar; for the portion of $30 million and above, a reward of RMB 0.08 per dollar, with a maximum reward not exceeding RMB 10 million.
(16) Encourage socialized investment promotion.Localities are encouraged to conduct socialized investment promotion and to purchase “commissioned investment promotion” services from third-party institutions. For third-party institutions that attract new foreign investment projects with actual到位 funds of $10 million or more (excluding real estate and financial sectors), a one-time reward of 3‰ of the cumulative actual到位 funds will be granted in the year following the year in which the cumulative actual utilized foreign investment, as recorded by the Ministry of Commerce, reaches $10 million, starting from the year of project registration and continuing throughout the policy’s validity period, with a maximum reward not exceeding 2 million yuan.
VI. Promoting High-Quality Development of Outbound Investment and Cooperation
Efforts will be concentrated on enhancing the city’s leading industries’ ability to coordinate within global industrial chains and allocate resources, guiding enterprises to conduct overseas investment in an orderly manner, and expanding and strengthening the headquarters economy. By 2026, the city aims to have a cumulative total of at least 21 multinational corporations included in the local cultivation pool and at least 3 multinational corporate flagship enterprises.
(17) Guiding Enterprises to Engage in High-Quality Outbound Investment. Enterprises are encouraged to establish overseas marketing networks; a one-time reward of 30,000 yuan will be granted for every 1 million USD of actual investment made by the Chinese side in the current year. Enterprises are encouraged to engage in cross-border mergers and acquisitions; for enterprises that acquire well-known overseas brands, patents, or marketing networks through approved cross-border M&A, the one-time reward amount will be increased by 20% upon verification by relevant departments.Enterprises that establish operations in Jinhua’s “Two Countries, Two Parks” strategic zones or Zhejiang Province’s overseas economic and trade cooperation zones will receive a 20% increase in the one-time reward amount upon verification by relevant departments (this increase may be combined with other incentives).
(18) Enterprises are encouraged to undertake engineering contracting projects overseas. For enterprises undertaking overseas engineering contracting projects, a subsidy of 30,000 yuan will be provided for every 1 million USD of annual turnover, with a maximum of 2 million yuan per enterprise. Banks are encouraged to issue performance bonds for enterprises engaged in overseas engineering contracting.
(19) Encourage the development of overseas economic and trade cooperation zones. Investment and construction entities for newly approved national-level and provincial-level overseas economic and trade cooperation zones will receive rewards of 2 million yuan and 1 million yuan, respectively. Encourage the development of local multinational corporations; enterprises listed on the provincial-level local multinational corporation leadership list will receive a one-time reward of 500,000 yuan.
VII. Deepening Reform and Innovation in Financial Services for the Open Economy
Financial services supporting the open economy will be further strengthened. By 2026, the city’s currency hedging volume will exceed 6 billion yuan, and foreign exchange options trading volume will steadily increase, with foreign exchange options business in the urban area exceeding 400 million USD; the environment for accepting foreign credit cards will be significantly improved, with the retrofitting rate for accepting foreign credit cards at key merchants in the urban area reaching over 95%.
(20) Enhance the convenience of payment services for foreign visitors to China. For banking institutions that deploy foreign card acceptance terminals, a subsidy of 50% of the terminal cost will be provided for newly deployed terminals in the current year, with a maximum of 400 yuan per institution.
(21) Support enterprises in implementing exchange rate hedging. In accordance with the principle of shared responsibility among the government, banks, and enterprises, enterprises engaging in foreign exchange option purchase transactions will receive a subsidy of up to 40% of the option premium per transaction, with a maximum annual subsidy of 1,200 yuan per enterprise.
VIII. Supplementary Provisions
(22) The scope of application of these guidelines is limited to the urban area of Jinhua. Except for Articles 3, 6, 8, and the government-subsidized insurance projects for small and micro enterprises under Article 9, which are fully funded by the municipal finance, the remaining funds shall be shared equally between the municipal and district finances.The policy on building a team of legal professionals specializing in foreign-related affairs, as outlined in Article 7, shall be implemented by the Municipal Bureau of Justice. Articles 20 and 21 shall be implemented by the Jinhua Branch of the People’s Bank of China. Each district shall formulate supplementary policies based on local conditions, and each county (city) may implement them by reference.
(23) These guidelines are effective for the 2024–2026 period and remain in force until December 31, 2026. The “Notice of the General Office of the Jinhua Municipal People’s Government on Issuing the Ten Measures for Promoting the Development of International Trade in Services in Jinhua” (Jin Zheng Ban Fa [2020] No. 52) is hereby repealed. Specific implementation rules shall be formulated separately by the Municipal Bureau of Commerce in conjunction with relevant departments.
