Shenzhen Further intensifies the implementation measures for Attracting and Utilizing Foreign Investment

To thoroughly implement the spirit of the 20th National Congress of the Communist Party of China and all plenary sessions of the 20th Central Committee, the spirit of the Central Economic Work Conference, as well as the important speeches and instructions of General Secretary Xi Jinping concerning Guangdong and Shenzhen, and to carry out the policies outlined in documents such as the “Opinions of the State Council on Further Optimizing the Foreign Investment Environment and Intensifying Efforts to Attract Foreign Investment” (Guofa [2023] No. 11), the “Action Plan for Solidly Promoting High-Level Opening-Up and More Vigorously Attracting and Utilizing Foreign Capital” (Guobanfa [2024] No. 9), and the “Several Measures of Guangdong Province to Further Stimulate the Vitality of Market Entities and Accelerate the Construction of a Modern Industrial System” (Yuefuban [2025] No. 11), we hereby formulate the following policy measures to more vigorously advance Shenzhen’s high-level opening-up, and accelerate the development of a globally influential economic center city and a modern international metropolis.

(1) Accelerate the International Development of Advanced Manufacturing.Fully implement the national policy of completely lifting foreign investment access restrictions in the manufacturing sector, encouraging and guiding foreign investors to focus on cultivating and developing the “20+8” industrial clusters centered around advanced manufacturing, further extending, supplementing, and strengthening key links in areas such as high-end equipment manufacturing, next-generation information technology, and new materials. Support globally renowned manufacturing leaders in establishing their headquarters, R&D design, production, and other critical operations in Shenzhen. Leverage our city’s concentrated contiguous areas as key platforms to ensure sufficient space for major projects, effectively attracting priority industries and corporate investment initiatives. (Responsible Units: Municipal Bureau of Industry and Information Technology, Municipal Development and Reform Commission, Municipal Science and Technology Innovation Bureau, Municipal Investment Promotion Bureau)

(2) Build an International Hub for R&D and Innovation.Encourage and support foreign-invested enterprises to establish R&D centers, industrial innovation centers, concept validation centers, and new product introduction centers in our city. Foreign-invested enterprises meeting national, provincial, and municipal high-tech enterprise criteria shall enjoy relevant Shenzhen incentive policies as prescribed. Encourage foreign-funded R&D institutions to apply for national, provincial, and municipal science and technology programs. Fully leverage the advantages of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone and the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone to foster an excellent international R&D environment, attracting more globally renowned companies to set up R&D centers and collaborate with local enterprises on technological research and industrial applications. (Responsible Units: Municipal Science and Technology Innovation Bureau, Municipal Bureau of Industry and Information Technology, Qianhai Authority, Hetao Development Agency)

(3) Support Foreign Investment in the Biomedical Field.Encourage foreign-invested enterprises to conduct clinical trials of cell and gene therapy drugs already approved overseas in Shenzhen in accordance with the law, accelerating the establishment of the Guangdong-Hong Kong-Macao Greater Bay Area International Clinical Trial Center. Promote the approval of more urgently needed medical devices under the “Hong Kong and Macao Medical Devices Access” program for use in designated medical institutions within our city. Leverage the role of the National Medical Products Administration’s Greater Bay Area Review and Inspection Subcenter in accepting, reviewing, and inspecting applications, while also providing registration services for Hong Kong and Macao pharmaceuticals. Allow eligible foreign-invested enterprises to undertake pilot programs expanding openness in the development and application of genetic diagnosis and treatment technologies. (Responsible Units: Municipal Development and Reform Commission, Municipal Bureau of Industry and Information Technology, Municipal Health Commission, Municipal Market Supervision Administration, Municipal Investment Promotion Bureau, Qianhai Authority, Hetao Development Agency)

(4) Accelerate the Expansion of Modern Services.Attract international capital to strengthen and expand the financial industry, promote faster development of information technology, and enhance professional service capabilities. Support qualified foreign institutions to legally engage in bank card clearing services. Deepen market opening in sectors such as commercial pension insurance and health insurance, supporting eligible overseas professional insurance institutions to invest in or hold stakes in domestic insurance entities. Explore conducting pilot programs in Qianhai for transferring private equity and venture capital shares. Deepen reforms of the partnership mechanism between mainland law firms and Hong Kong/Macao law firms in Qianhai, encouraging Hong Kong and Macao law firms to establish operational offices there. (Responsible Units: Municipal Development and Reform Commission, Municipal Local Financial Regulatory Bureau, Municipal Investment Promotion Bureau, Qianhai Authority, Shenzhen Securities Regulatory Bureau, People’s Bank of China Shenzhen Branch)

(5) Broaden Channels for Attracting Foreign Investment.Enterprises established in Shenzhen by foreign-invested holding companies may enjoy preferential treatment accorded to foreign-invested enterprises as stipulated. Encourage foreign investors to invest in our city through mergers and acquisitions, cross-border RMB contributions, equity investments, and reinvestment of distributed profits. Deeply implement the Qualified Foreign Limited Partner (QFLP) pilot program for domestic investment, and further promote experience gained from the QFLP total quota management system. Support eligible fund management companies in initiating private equity funds involving overseas partners, raised privately and invested domestically. (Responsible Units: Municipal Investment Promotion Bureau, Municipal Local Financial Regulatory Bureau, Qianhai Authority, Shenzhen Securities Regulatory Bureau, Shenzhen Municipal Taxation Bureau, Shenzhen Financial Regulatory Bureau, People’s Bank of China Shenzhen Branch)

(6) Ensure Foreign-Invested Enterprises’ Participation in Government Procurement and Standards Formulation.In government procurement activities, products manufactured by both domestic and foreign-invested enterprises that meet relevant standards shall be treated equally. Foreign-invested enterprises producing goods compliant with national regulations for domestic production shall enjoy corresponding preferential policies during government procurement. Promote transparency throughout the entire process of standard formulation and revision, ensuring foreign-invested enterprises can participate equally and lawfully in local standard-setting. (Responsible Units: Municipal Finance Bureau, Municipal Market Supervision Administration, Municipal Government Affairs and Data Bureau, District Governments, including New Area and Cooperative Zone Management Committees, and Qianhai Authority)

(7) Ensure Equal Access to Support Policies for Foreign-Invested Enterprises.Except where explicitly stipulated by laws and regulations or involving national security, no department or entity may exclude or discriminate against foreign-invested enterprises and their products and services by restricting brands or favoring domestic ones. Enhance transparency and predictability in all municipal foreign-related economic and trade policies, solicit opinions from foreign-invested enterprises in accordance with the law, and provide reasonable transition periods for newly introduced measures. (Responsible Units: Relevant municipal departments, district governments, and Qianhai Authority)

(8) Continue Strengthening Protection for Foreign-Invested Enterprises.Establish and improve a complaint coordination mechanism for foreign-invested enterprises, facilitating resolution of multi-departmental matters or policy- and institutional-related issues. Fully utilize the China (Shenzhen) Intellectual Property Protection Center to provide one-stop comprehensive services—rapid examination, rapid rights confirmation, and rapid rights protection—for foreign-invested enterprises. Accelerate construction and improvement of the Guangdong-Hong Kong-Macao Greater Bay Area International Arbitration Center and the Shenzhen One-Stop Multi-Dispute Resolution Center for Foreign-Related and Hong Kong-Macao Commercial Cases, properly handling international investment disputes and refining the administrative adjudication mechanism for patent infringement cases based on case complexity. Optimize enforcement inspection methods for foreign-invested enterprises and implement the “Comprehensive Single Inspection” system for business compliance checks. (Responsible Units: Municipal Investment Promotion Bureau, Municipal Commerce Bureau, Municipal Chamber of Commerce, Municipal Market Supervision Administration, Municipal Public Security Bureau, Municipal Justice Bureau, Municipal Intermediate People’s Court, Municipal Cyberspace Affairs Office, Shenzhen International Arbitration Institution, district governments, and Qianhai Authority)

(9) Strengthen Policy Support for Project Implementation.When introducing foreign-invested projects, all districts and relevant departments should fully inform investors in advance about obligations they must fulfill under industry regulatory agreements, helping them comply with agreement terms on time and carry out project construction and business operations in accordance with laws and regulations. (Responsible Units: Relevant municipal departments, district governments, and Qianhai Authority)

(10) Comprehensively Optimize Services for Expatriate Talents.Issue visas valid for up to two years, with validity and permitted stay duration aligned, to eligible expatriate executives, technical personnel, and their family members. For major and key foreign-invested projects, issue multiple-entry business visas as needed to facilitate project-related foreign personnel. For foreign-invested enterprise executives and technical staff facing urgent entry situations without time to obtain visas abroad, allow them to apply for port-of-entry visas at border checkpoints using invitation letters and related supporting documents. Eligible foreign-invested enterprise executives and technical staff requiring frequent cross-border travel for legitimate reasons may apply to local public security immigration authorities for multiple-entry visas after entering the country, presenting invitation letters and supporting documentation. Foreign investors’ contributions, profits, capital gains, proceeds from asset disposal, income from intellectual property licensing, legally obtained compensation or damages, liquidation proceeds, and other earnings may be freely remitted into or out of the country in either RMB or foreign currency. Salaries and other lawful income of foreign employees of foreign-invested enterprises, as well as employees from Hong Kong, Macao, and Taiwan, may also be freely remitted abroad. (Responsible Units: Municipal Public Security Bureau, Municipal Science and Technology Innovation Bureau, Municipal Human Resources and Social Security Bureau, Municipal Government Affairs and Data Bureau, Municipal Local Financial Regulatory Bureau, People’s Bank of China Shenzhen Branch)

(11) Explore Mechanisms for Facilitating Secure Cross-Border Data Flows.Support data flows between foreign-invested enterprises and their headquarters. Within the framework of national and industry-specific regulations governing secure cross-border data transmission, launch pilot programs for managing outbound data transfers. Focusing on cross-border data needs in key sectors such as finance, scientific research, credit, and trade, explore establishing a general list of data categories allowed to flow freely. Leveraging the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone and the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone, build platforms for cross-border data flows and a Shenzhen-Hong Kong cross-border data verification platform, providing compliance services for cross-border data movement. (Responsible Units: Municipal Cyberspace Affairs Office, Municipal Development and Reform Commission, Municipal Government Affairs and Data Bureau, Municipal Market Supervision Administration, Qianhai Authority, Hetao Development Agency)

(12) Further Facilitate Cross-Border Trade and Investment.Orderly implement a package of policies to facilitate foreign exchange payments for capital account items, support non-investment-oriented foreign-invested enterprises in engaging in equity investments, simplify business registration procedures for capital account transactions, and optimize the review process for new offshore international trade financing settlements. Encourage and support eligible foreign-invested enterprises to participate in integrated domestic and foreign currency cross-border centralized fund management operations and debt facilitation pilots, and promote banks to handle non-financial enterprise debt registration. Deeply implement pilot programs for high-level opening-up in cross-border trade and investment. (Responsible Units: People’s Bank of China Shenzhen Branch, Shenzhen Financial Regulatory Bureau, Shenzhen Securities Regulatory Bureau, Municipal Local Financial Regulatory Bureau)

(13) Increase Support for Foreign-Invested Enterprises.Establish and improve the roundtable conference system for foreign-invested enterprises, deepen regular exchanges with foreign chambers of commerce in China and foreign-invested enterprises, and continuously enhance services for foreign investors. Leverage the public service system for promoting foreign investment and the municipal task force dedicated to serving foreign-invested enterprises to promptly address their difficulties and problems. (Responsible Units: Municipal Investment Promotion Bureau, Municipal Chamber of Commerce, relevant municipal departments, district governments, and Qianhai Authority)

(14) Strengthen Support for Manufacturing Projects with Foreign Investment.Continue intensifying efforts to attract foreign investment targeting hidden champions and manufacturing leaders. From 2023 to 2027, enterprises achieving a cumulative annual actual foreign investment inflow of US$50 million or more will receive rewards; high-tech manufacturing enterprises will be rewarded at a rate not exceeding 3% of their additional actual foreign investment, while other manufacturing enterprises will be rewarded at a rate not exceeding 2%. The maximum annual reward per enterprise is RMB 50 million, with a cumulative cap of RMB 150 million. (Responsible Units: Municipal Investment Promotion Bureau, Municipal Bureau of Industry and Information Technology, Municipal Development and Reform Commission, Municipal Finance Bureau, district governments, and Qianhai Authority)

(15) Focus on Supporting Large-Scale Foreign-Invested Projects.Concentrate on deepening multifaceted cooperation with major foreign economies, supporting foreign enterprises in increasing capital and expanding production. From 2023 to 2027, foreign-invested enterprises (excluding those in the financial and real estate sectors) achieving a cumulative annual actual foreign investment inflow of US$50 million or more will receive rewards; high-tech service enterprises will be rewarded at a rate not exceeding 2% of their additional actual foreign investment, while other sectors will be rewarded at a rate not exceeding 1%. The maximum annual reward per enterprise is RMB 20 million, with a cumulative cap of RMB 80 million. (Responsible Units: Municipal Investment Promotion Bureau, Municipal Local Financial Regulatory Bureau, Municipal Finance Bureau, district governments, and Qianhai Authority)

(16) Foster Momentum for Headquarters Economy Development.Cultivate and strengthen competitive headquarters enterprise clusters, vigorously develop a globally influential headquarters economy, and increase support and services for headquarters enterprises across various fields. From 2023 to 2027, recognized multinational company regional headquarters in Guangdong Province achieving an annual cumulative actual foreign investment inflow of US$10 million or more (excluding those in the financial and real estate sectors) will each receive a one-time reward of RMB 500,000; similarly, recognized multinational company headquarters in Shenzhen achieving an annual cumulative actual foreign investment inflow of US$10 million or more (excluding those in the financial and real estate sectors) will each receive a one-time reward of RMB 500,000. Enterprises are not eligible to receive both provincial and municipal headquarters awards. (Responsible Units: Municipal Investment Promotion Bureau, Municipal Development and Reform Commission, Municipal Finance Bureau, district governments, and Qianhai Authority)

(17) Support Headquarters in Upgrading Capabilities.From 2025 to 2027, recognized multinational company China headquarters, Asia-Pacific headquarters, and global division headquarters in Guangdong Province, with an annual cumulative actual foreign investment inflow of US$10 million or more in the previous year, will each receive a one-time reward of up to RMB 800,000. (Responsible Units: Municipal Investment Promotion Bureau, Municipal Finance Bureau, district governments, and Qianhai Authority)

(18) Support the Establishment of Foreign R&D Centers.From 2025 to 2027, foreign R&D centers identified jointly by Shenzhen’s foreign investment authorities and science and technology departments will each receive a one-time reward of up to RMB 1 million; among these, global R&D centers of multinational companies with an annual cumulative actual foreign investment inflow of US$1 million or more in the previous year will receive an additional one-time reward of up to RMB 500,000, totaling a maximum of RMB 600,000. Districts may formulate supplementary support policies based on local conditions. (Responsible Units: Municipal Investment Promotion Bureau, Municipal Science and Technology Innovation Bureau, Municipal Finance Bureau, district governments, and Qianhai Authority)

(19) Implement Tax Preferential Policies for Foreign-Invested Enterprises.Implement policies exempting overseas investors from withholding income tax when directly reinvesting distributed profits, along with tax credit provisions, and further strengthen publicity to enhance convenience for foreign-invested enterprises. Further optimize the application review process for personal income tax preferential policies in the Guangdong-Hong Kong-Macao Greater Bay Area targeting high-caliber and scarce talents from overseas (including Hong Kong, Macao, and Taiwan). Ensure foreign R&D centers enjoy import tax incentives and VAT refund policies for procuring domestically produced equipment as stipulated by national regulations. (Responsible Units: Municipal Finance Bureau, Municipal Human Resources and Social Security Bureau, Municipal Science and Technology Innovation Bureau, Municipal Investment Promotion Bureau, Shenzhen Municipal Taxation Bureau, Shenzhen Customs, district governments, and Qianhai Authority)

(20) Enhance the Mechanism for Attracting Investment.Encourage districts to explore more effective and flexible employment mechanisms and salary systems for non-civil servant, non-establishment positions within foreign investment promotion departments and teams, strengthening staffing through inter-district and inter-departmental adjustments. Accelerate the establishment of a diversified foreign investment promotion system, fostering a multi-stakeholder, flexible, and efficient coordination mechanism involving government bodies, investment promotion agencies, chambers of commerce, intermediary organizations, and leading enterprises in industrial chains. Improve the evaluation and assessment system for foreign investment, swiftly converting foreign projects into incremental indicators such as output value, tax revenue, and R&D input, thereby enhancing the contribution of foreign investment to economic development. Fully leverage comprehensive investment promotion events and various trade fairs to attract businesses through exhibitions. (Responsible Units: Municipal Investment Promotion Bureau, Municipal Development and Reform Commission, Municipal Commerce Bureau, district governments, and Qianhai Authority)

(21) Improve the Service Mechanism for Advancing Foreign-Invested Projects.Refine the coordination mechanism of task forces dedicated to major and key foreign-invested projects, providing essential support such as land, energy, and human resources, and actively seeking to include more foreign investment projects on the national major project or task force project lists. Strengthen guidance and support for environmental impact assessments of major foreign projects; in regions where regional EIAs have already been completed, adopt list-based management for eligible major foreign projects, eliminating the need for separate environmental impact evaluations. Establish green electricity and green certificate service centers, offering one-stop public services for tracing, certifying, and querying green electricity origins, improving renewable energy trading mechanisms, and supporting foreign-invested enterprises in engaging in green electricity transactions and expanding their scale. (Responsible Units: Municipal Development and Reform Commission, Municipal Investment Promotion Bureau, Municipal Planning and Natural Resources Bureau, Municipal Environmental Protection Bureau, Municipal Chamber of Commerce)

(22) Facilitate Overseas Investment Promotion Efforts.Deepen the development of international economic and trade networks, leveraging Shenzhen’s overseas economic and trade representative offices and liaison offices as strategic bridgeheads to actively attract high-quality overseas resources. Capitalize on the business advantages and synergies between Shenzhen and Hong Kong in finance, commerce, and professional services, coordinating with Hong Kong’s global investment promotion network to promote Shenzhen–Hong Kong collaboration internationally. (Responsible Units: Municipal Investment Promotion Bureau, Municipal Commerce Bureau, Municipal Chamber of Commerce, Municipal Foreign Affairs Office, district governments, and Qianhai Authority)

Regarding the portion of this measure involving provincial foreign investment reward policies, financial rewards will be shared between the province and the city in a 2:8 ratio; only the portion pertaining to municipal foreign investment rewards will be fully funded by our city. Of this municipal share, the burden will be divided between the city and individual districts, with districts responsible for funding any newly established enterprises specified in the relevant management measures. Award-winning enterprises must commit, starting from the year in which they apply for the reward, to maintaining their registered capital for five years and refraining from conversion into domestic enterprises, and strictly honor this commitment.

This measure shall come into effect on January 1, 2026, with a validity period of three years. The “Shenzhen Measures for Further Increasing Efforts to Attract and Utilize Foreign Investment” (Shenfu Gui [2024] No. 6) shall be simultaneously repealed. For matters applying for related subsidies under Shenfu Gui [2024] No. 6, if the funding review and disbursement remain incomplete upon the implementation of this measure, the policy basis shall still be Shenfu Gui [2024] No. 6.