The Songjiang Comprehensive Bonded Zone (CBZ) area might be foreign to many but maybe these facts can bring a bit more familiarity…
Songjiang is located southwest of Shanghai and is one of the most dynamic economic hubs in China. It’s also known as the “root” of Shanghai as this was the birthplace of Shanghai’s history and culture. Located around 30km away from the Shanghai city center, Songjiang combines the beauty of cultural history and natural landscapes with a modern mix. Songjiang is also home to the Songjiang University Town and sights such as Thames Town and Chenshan Botanical Garden.
What’s unique about Songjiang CBZ?
Songjiang Industrial Zone, (now known as Songjiang CBZ) was established in May 1994 and has played a vital role in the economic development of Shanghai and Hangzhou. It’s one of the first export processing zones in China and according to their official site, has 1085 companies currently based there and an annual average industrial output value of 232.3 billion yuan. Notable companies such as Nestle, Pepsico, Foxconn, Fujitec, Ajisen Group, TSMC, more are based in the zone.
Being the main player of the G60 Science and Technology Innovation Valley, which aims to break the regional barriers between Shanghai and its neighboring provinces to maximize entrepreneurship in scientific innovation, the Songjiang CBZ’s main focus is to form centers for manufacturing R&D design, logistic distribution, inspection and maintenance and sales services. With more diverse functions, brings a variety of companies and business to the zone.
The companies that are established in Songjiang are mostly in the biomedical, new energy, integrated circuit fields but they are also opened for companies that focus on R&D, inspection and maintenance and international trading.
Currently, the Songjiang CBZ is in the process of recruiting more companies to join and providing a “two exemptions and three 50% reduction” benefit for newcomers.
For new enterprises, they will be fully tax exempted for the first 3 years.
Following the 3 years, the company tax exemption will be cut by 50% for the next two years.
We were invited by our partner Kudosbay to attend a forum discussion with local government representatives, and to learn more about special arrangements and policies available to help your business grow faster.
We spoke with Ms Wang Yingyan, the Songjiang CBZ Vice Directorand she gave us the 3 main reasons to have your business here in Songjiang, have a watch below!
Want to learn more about Songjiang CBZ? Don’t hesitate to contact Iris from Kudosbay at email@example.com
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