Pingxiang of Chongzuo city issued the China (Guangxi) Free Trade Pilot Zone Chongzuo Area Development Support Policy on Dec 24, 2019, covering various aspects such as industrial projects, international capacity cooperation, and cross-border trade.

For major industrial projects newly settled in Chongzuo area with an annual output value of more than 100 million yuan ($14.35 million) and tax revenue of more than 3 million yuan, the local share of their income tax will be exempted for the five years after they obtain their first income from their main business.

They will also be further rewarded according to their contribution to the local economy.

All kinds of business associations, intermediary organizations and social individuals who have made outstanding contributions to major industrial projects with fixed asset investment of more than 100 million yuan introduced and settled in Pingxiang will be given a one-time reward of not more than 1 million yuan according to their fixed asset investment.

A cross-border industrial chain that creates a value-added rate from the processing trade of not less than 8 percent will be rewarded at 100 percent of its contribution to the local economy in the year after its first income from its main business was earned.

Newly settled enterprises in trade, logistics, e-commerce, wholesale, and retail that meet the requirements of the Chongzuo area will be exempted from local corporate income tax for five years following their first main business income and will be additionally rewarded depending on their contribution to the local economy each year.

Proportional subsidies will be given to the corporate headquarters, regional headquarters and functional headquarters introduced in the Chongzuo area. The total accumulated subsidy fund for the establishment of the headquarters shall not exceed 100 million yuan, and shall be paid in five years, with an annual payment of 20 percent. The headquarters enterprise will also be rewarded according to the annual local economic contribution within five years from the year of establishment.

Senior managers and technical personnel of modern service industries and emerging manufacturing enterprises or scientific research institutions of Chongzuo Area will also be rewarded based on their economic contribution to the area.