State Council Approves Shenzhen SEZ Expansion

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Jun. 11 – The State Council has recently approved the application from the Guangdong provincial government, to expand the scope of the Shenzhen Special Economic Zone, effective July 1.

Guohan [2010] No. 45, issued on June 8th, further expands the scope of the Shenzhen Special Economic Zone to the entire city, and also include Baoan district and Longgang district. The notice aims to enhance innovation and the scientific development capacity in Shenzhen, and promote healthy and balanced economic development.

For the time being, Baoan district and Longgang district are not yet entitled to enjoy the tax incentives under the “Transitional Preferential Tax Notice for Newly – Established Hi-tech Enterprises in Special Economic Zone and Shanghai Pudong New District.” (Guo Fa [2007] No. 40)

The State Council and the Guangdong provincial government will also issue favorable measures for the Special Economic Zone, to provide a good investment climate and to actively support the economic development.