Guidance of Foreign Investment in Fujian
(1) Key Encouraged Industries with Foreign Investment
Electronic & Information Industry
The development of hardware production has been inclined to such fields as telecom products, computers and network products, digital video and audio products, new modes of display, and newtype electronic components, in particular the integrated circuit and auto electronic products. The development of the software industry, on the other hand, is led by two software parks in Fuzhou and Xiamen that specialize in the development of application software and operating systems.
Machine Building Industry
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Automobile: Mid-upper class passenger cars as produced by South-east Auto and Daimler Chrysler Fujian, buses of large and medium capacity as produced by Xiamen King Long, remodelled vehicles and dumpers produced in North-west Fujian as well as the development of key assembled and accessory parts.
- Ship-Building and Maintenance : The four established shipbuilding bases of Xiamen, Mawei, Quanzhou and Fu'an have enabled Fujian to become the shipbuilding building centre of the southeast coast. The versatility of Fujian's ship-building industry can be seen not only in the efforts to optimise the series of cargo containers, high-power towboats and tunny fishers, but also in the development of 53,800-ton bulkers and 4,900-ton roll-on/rolloff ships for cars. Besides, the manufacture of shipping devices is another concern in the industrial development.
- Electric device and Equipment Manufacture: Utilizing advanced technology, this industry has placed great emphasis on strengthening the manufacture of devices for electricity transmission and distribution as well as the controlling devices, electrical equipment and electric motors.
- Engineering-Machinery Building:The development has been focused on the five main product series as loaders, excavators, road roller, forklifts and road building machinery. Efforts have also been made to forge the relevant chains of production in this sector.
Petrochemical Industry
Fujian is speeding up the development of its oil refinery-petrochemical integrated projects, placing the priority on constructing Meizhou Bay and Haicang Petrochemical Bases as well as Fuzhou Jiangyin Advanced Chemical Park. The Province attaches special importance to the manufacture of synthetic resin, synthetic fiber and synthetic rubber together with their subsequent processing and also encourages the production of organic and advanced chemical products with high added value and in high demand.
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Petrochemical Sector: Focusing on the oil refinery-petrochemical integrated project, affords have been made to coordinate the development of the upper stream with that of the lower stream in this industry, and to form six main industrial chains such as engineering plastics and synthetic resin.
- Advanced Chemical Sector: Supporting the construction of advanced chemical production bases manufacturing such products as sodium silicate, silica, oxalic acid and fluoride with the emphasis on eight major classes of products such as plastic additives and coating products.
- Chemical Raw Material and Fertilizer Industry: Emphasizing development the production of basic chemical raw material such as formaldehyde and liquefied ammonia and on raising the portion of non-fertilizer chemical products in the total output.
Hi-Tech Industry
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Biotech and Biomedicine: Importance is attached to the R&D of transgenic feed enzyme, diagnosis reagent, marine specific medicine, new type of bio-pesticides and bio-fertilizers.
- New Materials: Focusing on the R&D of electronic material, semiconductor material, crystal material, nano material, material of membrane function, micromolecular material of new functions, ecomaterial, bioceramic material and other special ceramic materials.
- Environmental Protection: Special attention is paid to this area, in particular the water and air pollution control technique, solid waste processing technique, clean production and low emission technique, the energy-saving techniques and new processing craft integrated in the production of the high energy consumption industries, the new energy-saving techniques applied in industrial kiln and furnace as well as the key techniques in saving or replacing the petrol oil.
- Optoelectronics: Focusing on the R&D of integrated auto controlling system, intelligent industrial controlling parts, new types of sensors, numerical controlling machine tools and the open numerical controlling system.
(2)The policy on foreign exchange
According to the Foreign Exchange Management Regulations of People's Republic of China :
(1)The profits of the foreign-invested enterprises, after legally taxed, are allowed to be remitted outside of China;
(2)The Foreign-invested enterprises may exchange the Chinese currency (RMB) into foreign currency under the current items.
(3)The foreign-invested enterprises in bonded areas and export processing areas are allowed to establish the special-purpose foreign currency of the current items and the capital items, and a reserve of foreign currency.
Source : Ministry of Commerce People's Republic of China
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