In order to implement the Provisions of Shanghai on Encouraging Transnational Corporations to Set up Regional Headquarters (HFF [2017] No.9) and the Several Opinions of Shanghai Municipal People's Government on Further Opening-up and Accelerating the Establishment of a New Open Economic System (HFF [2017] No.26), further attract multinational corporations to set up regional headquarters, headquarters-type institutions and R&D centers in Jing'an District, as well as promote the development of headquarters economy and foreign-related business, this Implementation Measures is formulated in accordance with the Several Opinions of Jing'an District on Implementing Proactive Fiscal Policies to Promote Economic Transformation and Development, and the Implementation Opinions of Jing'an District on Carrying out the "13th Five-Year Plan" National Service Industries Pilot for Comprehensive Reform.

I. Special Fund

The "Jing'an District Headquarters Economic Development Special Fund" shall be established, included into the departmental budget of Jing'an District Commission of Commerce, as well as managed and utilized in accordance with the Implementation Opinions of Jing'an District on Standardizing the Use and Management of Special Funds for Industrial Development, and relevant provisions on budgetary funds.

II. Support Objects

(I) Recognized regional headquarters and headquarters of transnational corporations with independent legal qualification, whose registration and tax dependency relationship is in the district, that are newly introduced (referring to those registered, moved or upgraded in the district after January 1, 2017, the same as below) and conform to the development orientation of key industries in Jing'an District.

(II) Recognized newly introduced foreign-funded R&D centers whose registration and tax dependency relationship is in the district.

(III) Senior managers and professionals in the above-mentioned headquarters, headquarters-type institutions and foreign-funded R&D centers of multinational corporations.

III. Support Measures

(I) Regional Headquarters of Multinational Corporations

1. Decoration Subsidy

For the newly introduced regional headquarters of multinational corporations who rent or buy self-use office buildings in the district, a certain amount of one-time decoration subsidy according to different scales shall be provided, and put in place in two years.

2. Talent Apartment

The applications of regional headquarters of multinational corporations registered in the district for talent apartments shall be facilitated. The recognized professionals (with limited number) shall be given priority to live in the "Talent Apartment".

3. Upgrading Subsidy

For local stock companies (founded before January 1, 2017) upgrading to the regional headquarters of multinational corporations, a certain amount of subsidy shall be provided, and put in place in two years.

(II) Headquarters-type Institutions of Multinational Corporations

1. Rental Subsidy

For the newly introduced and recognized headquarters-type institutions of multinational corporations who rent self-use office buildings in the district, a certain amount of "three-year rental subsidy" shall be provided; and for those who buy and build office buildings for their own use, the same one-time "three-year rental subsidy" as above shall be provided.

2. Business Rewards

For the newly introduced and recognized headquarters-type institutions of multinational corporations whose annual turnover exceeds RMB 500 million for the first time since the year of recognition, a certain amount of one-time bonus shall be provided. The bonus is divided into three years according to the proportion of 40%, 30% and 30%.

3. Decoration Subsidy

For the newly introduced and recognized headquarters-type institutions of multinational corporations who rent or buy self-use office buildings in the district, a certain amount of decoration subsidy according to different scales shall be provided, and put in place in two years.

4. Talent Apartment

The applications of headquarters-type institutions of multinational corporations registered in the district for talent apartments shall be facilitated. The recognized professionals (with limited number) shall be given priority to live in the "Talent Apartment".

(III) Foreign-funded R&D Centers

1.      Tax Preference

Based on the Notice of the Ministry of Finance, the General Administration of Customs and the State Administration of Taxation on Supporting Import Tax Policies for Scientific and Technological Innovation During the 13th Five-Year Plan (CGS [2016] No.70), and the Notice of the Ministry of Finance, the Ministry of Commerce and the State Administration of Taxation on Continued Implementation of VAT Policies on Equipment Purchased by R&D Institutions (CS [2016] No.121), the imported scientific and technological development supplies of foreign-funded R&D centers shall be exempted from import duties, value-added tax and consumption tax, and the VAT of domestic equipment purchased shall be refunded in full.

2. Renting Subsidy

For the newly introduced foreign-funded R&D centers who rent self-use office buildings in the district, a certain amount of "three-year rental subsidy" shall be provided; and for those who buy and build office buildings for their own use, the same one-time "three-year rental subsidy" as above shall be provided.

3. Talent Apartment

The applications of foreign-funded R&D centers registered in the district for talent apartments shall be facilitated. The recognized professionals (with limited number) shall be given priority to live in the "Talent Apartment".

4. International Patent Subsidy

For invention patents outside the country or territory that are proposed through the international Patent Cooperation Treaty (PCT) and accepted by the State Intellectual Property Office, corresponding subsidies shall be provided with reference to the intellectual property patent subsidy policies in Jing'an District.

IV. Supplementary Provisions

(I) For cases that are applicable to both the relevant policy provisions of the state and Shanghai and the provisions of this Measures, the relevant provisions of the state and Shanghai shall be implemented first; and for the same supporting objects of both provisions, they can choose for the best, instead of repeatedly enjoying the same kinds of financial support funds.

(II) During the implementation of this Measures, in case of major policy changes of the state or the Shanghai Municipality, adjustments shall be made accordingly. In case of any discrepancy between the provisions already issued in the district and this Measures, this Measures shall prevail.

(III) For investors from the Hong Kong Special Administrative Region, the Macao Special Administrative Region or the Taiwan Region who set up the regional headquarters in the district, this Measures shall be implemented by reference.

(IV) Jing'an District Commission of Commerce shall be responsible for the interpretation of this Measures.

(V) The Measures shall come into force from February 18, 2019 and shall be valid till February 17, 2021.