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Sanya sets policies to lure global businesses' headquarters

Updated: 2018-06-14 15:44:26

headquarters

 

The Sanya government recently released a new set of preferential policies aimed at helping the city attract global conglomerates and boost the development of its “headquarters economy.”

 

The move, targeting Fortune Global 500 companies, leading industrial conglomerates, and internationally well-known enterprises and organizations, is an initial step toward encouraging companies to locate their headquarters in Sanya.

 

Under the new policies, transnational corporations or international organizations will receive a subsidy of RMB 2 million for establishing their headquarters or regional headquarters in Sanya.

 

Regional headquarters engaged in tourism and modern service industries, high-tech industries, and tropical agriculture will receive a certain bonus if they contribute to the city’s local revenue in their first five years of operation after registration, according to the incentives announced at the news conference.

 

The city has also rolled out incentive policies to woo and retain talented individuals. Talented individuals will benefit from special policies related to medical and social security services and education for their children.

 

The latest policy is part of the Sanya government’s strategy to develop a “headquarters economy” and strengthen the city’s service industry. The goal is to make Sanya an attractive modern city that houses a cluster of headquarters.