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Issue 08, 2008 (01 August)
 Local Policy

Shenzhen Introduces 28 Measures to Aid Difficult Enterprises

As Shenzhen's industry, trade and economy are facing a critical period of difficulties and opportunities in their move towards transformation, enterprises in the city are under pressures exerted by both the domestic and international environments as well as the constraints brought about by its tightening supply of resources and energy such as land and electricity.

The Shenzhen municipal government has recently issued Certain Measures on Optimising Government Services and Promoting Industrial Development (or the so-called 28 measures) aimed at solving problems for enterprises in a most direct and effective manner and helping them resolve the difficulties facing them in their course of development.

It is understood that the coverage of Shenzhen's 28 measures is extensive. The 28 measures span seven areas, namely: enhancing the leadership and services for industrial development; supporting enterprises in opening up both the domestic and foreign markets; promoting the optimisation and upgrade of industry structure; guiding enterprises to increase their investments; strengthening the supply of industrial land; providing multiple channels for solving financing problems encountered in industrial development; and continuing to improve the investment environment. Under the measure of "establishing a sound enterprise communication and service system", point-to-point tracking service is provided to key enterprises. Under the measure of "providing innovative service to enhance service efficiency", emphasis is placed on enhancing the efficiency of government approvals while the most common problems encountered by enterprises would be handled in a target-specific manner. Under the measures of "encouraging enterprises to optimise their export mix" and "encouraging enterprises to expand domestic and foreign markets", more room is given to the development of Shenzhen's economy in a bid to cope with the increasingly tight foreign trade environment.

In addition to granting incentives to qualified enterprises, greater support will be given to enterprises participating in trade fairs by way of increasing the special industrial development fund. According to initial estimates, the 28 measures will involve additional fiscal funds exceeding Rmb2 billion.