Weifang Hi-Tech Industrial Development Zone

Source: 03-01-2022 18:21:27

Established in 1991, with an area of 123 square kilometers and a population of 420,000, Weifang Hi-Tech Industrial Development Zone is located in Weifang, an important regional center city in Shandong Peninsula, a major coastal city in Bohai Rim, a well-known national cultural city and a world kite city. 

Direction of Investment Promotion

Power equipment: Focusing on developing five sectors: green power, vehicle manufacturing, transmission systems, core parts, intelligent equipment, and introducing industrial projects in fields such as hydrogen power, vehicle power, marine power, aviation power, magnetic levitation, precision manufacturing and electronic systems.

Next-generation IT: Focusing on developing six fields: intelligent hardware, key electronic components, emerging software and new IT services, IoT application, big data service and next-generation mobile communication, surveying & mapping geographic information, and introducing industrial projects in fields such as integrated circuit, surveying & mapping geographic information, IoT, big data, AI, blockchain, 5G, software R&D and service outsourcing, call center and VR.

Medicare: Focusing on developing nine fields: new drug development, traditional Chinese medicine, integration of eco-agriculture and biotechnology, modern ocean, functional food and health products, medical devices, precision medicine and health management service, smart medical logistics and new biological materials, and introducing medicare industry clusters integrating R&D, incubation, industrialization, sales and services.

Aerospace: Focusing on developing and introducing aerospace R&D, manufacturing and service enterprises, and developing industries such as aero engines and parts, precision instruments and intelligent equipment, so as to create an aerospace industry cluster.

New materials: Focusing on developing fields such as high-end steel, high-voltage insulating materials, advanced membrane materials and functional composites, introducing relevant projects, and making significant progress in product types, industrial scale and R&D innovation, so as to build an important development pole in the new materials industry.

Support Policies

Strengthening factor support to foreign-invested projects: Applying for the status of key provincial foreign-funded projects for foreign-invested projects with an increased investment of over 50 million U.S. dollars each and a paid-in investment of 10 billion U.S. dollars each in the year, applying for the status of key municipal foreign-funded projects for those with a paid-in investment of 10 billion U.S. dollars each in the year, and preferentially granting land, energy consumption, coal consumption and pollutant discharge quotas to these project.

Intensifying financial support: Granting 2% of the paid-in part of the registered capital in the year (a maximum incentive of 10 million yuan) to each foreign-invested manufacturing project; 2.5% (a maximum incentive of 10 million yuan) to each Korea/Japan-invested project; and 2.5% (a maximum incentive of 10 million yuan) to each project of a key country or region in International Cooperation Park. Other foreign investment support policies shall be subject to the Implementation Opinions of the Weifang Municipal People's Government on Creating a New Pattern of Opening-up and Development, and Further Promoting the High-level Use of Foreign Investment (Wei Zheng Fa [2021] No. 4). Major foreign-invested projects shall be subject to case-by-case deliberation.

Encouraging socialized investment promotion: For enterprises, social organizations, intermediaries or natural persons that have recommended foreign-invested projects to us and facilitated project settlement, if the contractual foreign investment of a foreign-invested project is no less than 10 million U.S. dollars and the paid-in part in the year is no less than one third of its registered capital, 6of the paid-in part (a maximum incentive of 2 million yuan) shall be granted. State organs and public institutions, their staff and project stakeholders are not entitled to the incentive.