Shenyang Investment Service
Hotline: 86-755-82143348 Email: anitayao@citilinkia.com
Shenyang Investment Guide-Shenyang Introduction
Shenyang is the capital and largest city of Liaoning Province, as well as the largest city in Northeast China by urban population. Currently hold sub-provincial administrative status. Along with its nearby cities, Shenyang is an important industrial centre in China, and serves as the transportation and commercial hub of China's northeast—particularly with Japan, Russia, and Korea. A titan of heavy industry since the 1930s, and the spearhead of the Chinese central government's Northeast Area Revitalization Plan, the city has been diversifying its industry and now has a solid industrial foundation, a good land and air transport network, abundant natural resources, and a skilled workforce.
Shenyang Investment Guide-Shenyang Economy
Shenyang is an important industrial center in China and is the core city of Shenyang Economic Zone, a New Special Reform Zone. It has been focused on heavy industry, particularly aerospace, machine tools, heavy equipment and defence, and recently on software, automotive and electronics. During the first five-year plan (1951–1956) many factories were built in Tiexi district. At its peak in the 1970s, Shenyang was one of the top three industrial centres in China, alongside Shanghai and Tianjin. After the 1980s, the heavy industry had declined gradually and the city became a rust-belt city. However, the economy of the city has revived significantly in recent years, thanks to the central government's "Revitalize Northeast China" campaign and the rapid development of software and auto manufacture industries. Investment subsidies are granted to multinational corporations (MNCs) that set up offices or headquarters in Shenyang.
Meanwhile, the services sector—especially banking—has been developing in Shenyang. Shenyang has a few foreign banks, such as South Korea's Hana Bank, the Bank of Tokyo-Mitsubishi UFJ of Japan. Hong Kong's Bank of East Asia Ltd., Singapore's United Overseas Bank Ltd., and HSBC Holdings. In 2006, the city hosted a total of 1,063 banks and bank branches and 144 insurance-related companies. By 2010, it aims to attract 30 foreign banks and 60 non-bank financial institutions.
The city has been identified by the Economist Intelligence Unit in the November 2010 Access China White Paper as a member of the CHAMPS (Chongqing, Hefei, Anshan, Maanshan, Pingdingshan and Shenyang), an economic profile of the top 20 emerging cities in China.
Shenyang Investment Guide-Transportation
As the transport hub of Northeast China, Shenyang is served by air, rail, a two-line subway system and an extensive network of streets and expressways, with bus service throughout the city. A new tram network was also recently built in the city's south.
Shenyang Investment Guide- Preferential Policy
1. Shenyang has a 0.3 billion RMB equipment manufacturing development fund and provides discounted and/or low interest loans for important technological reform projects involving equipment manufacturing companies. This program is part of the nation's plan to revitalize the northeast industrial base.
2. The city of Shenyang grants subsidies of up to 500,000 RMB (US$62,500) to overseas multinational companies that establish regional head offices in Shenyang and up to 1 million RMB (US$125,000) in cases of the establishment of head offices for the entire Chinese market. Large foreign companies will also receive a 100,000 RMB (US$12,500) operational subsidy for setting up representative offices or branches in the city.
3. Registered capital of enterprises involved in preferred industries is allowed to be paid in installments. If the first installment of registered capital exceeds 20% of the contractual amount, the balance is allowed to be paid in over a period of 5 years.
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