“Technology Innovation Centre” becomes a hot topic in Shanghai these days and “The Opinion Regarding to Accelerating the Building up the Technology Innovation Center with Global Impact” was passed by the Shanghai Government last week. We are learning that the central government hopes Shanghai to be a “technology advanced” city in the near future. There are two milestones for this Opinion. The first one is to build up the basic frame structure for the technology innovation center before Year 2020 and the second one is to realize the essential function as the technology innovation city before Year 2030. Shanghai Dongjin is concluding some points in this Opinion and for your easy understanding on it.

1.     The “5+1” main area for “Shanghai Technology Innovation Center” are Zhangjiang, Zizhu, Yangpu, Caohejing and Linggang;

2.     To promote and simplify the approval procedure for the certain industry (e.g. civil airplane engine, big plane, high-level CPU, intelligence electric circuit, new energy car, new type display, original medicine and high-end medical equipment, precision medicine, big data and cloud calculation);

3.     To encourage the investment in “internet-technology” related with the finance, medical and healthcare, education and training industry;

4.     To support the local company to investment overseas and acquire their key technology and encourage the local company to set up R&D center overseas;

5.     To delegate the patent mortgage registration to Shanghai level and to set up a professional and international IPR transaction institution;

6.     To allow the company to register on the same address;

7.     Some tax preference policies for Hi-Tech companies as follows.

• For the qualified Hi-Tech service companies, the applicable EIT is 15%;
• For the enterprise partner for the encouraged start-up Hi-Tech limited partnership company, its investment can be deducted from its tax;
• There will be the tax favorable policy for the angel investor during the seeding and starting-up period;
• The scope for pre-deducted R&D expenses will be further expanded;  

8.     For technology innovation companies, it is much easier to be listed on the stock;

9.     To explore the way to set up modern technology investment bank;

10.   Favorable visa policies as follows;

• To simplify the visa application requirement procedure for foreign senior talents and experts and will issue the longer term for work visa’s valid term;
• For some foreigner students,  he/she can directly work in China after their graduation in Shanghai;

If you want to know more details, please contact our senior consultant.

Ms. Jojo Hu

TEL: 0086-21-68868335 ext 324 / FAX: 0086-21-68868021

Email: jojohu@shanghaiinvest.com