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Article 6: Confirmation of recommender’s qualification
1. Confirmation of recommender’s qualification shall be carried out by the investment party of the project and the administration committee of the industrial plate in the town where the project is located or the people’s government of the town (sub-district office).
2. Should there be two or more recommenders for one project, the reward will be granted at the standard of one project.
Article 7. Application and Reward Procedure:
1. When the project is completed and put into production, the recommender shall submit to the Bureau of Economy and Trade of the district the confirmation letter of project reward having been recognized by the investment party and the administration committee of the industrial plate in the town where the project is located or government of the town (sub-district office) (including confirmation of recommender’s qualification, confirmation that the project has been completed and put into production, verification of capital and assets and others. The situation of capital in place of foreign investment project shall be examined and verified by Bureau of Foreign Trade and Economic Cooperation of the district), which, shall be examined and verified by Bureau of Economy and Trade of the district for opinion before reporting to the people’s government of the district for approval.
2. Reward shall be paid in full within one month after receiving approval from the district government
3. For projects with domestic investment, the reward shall be paid by RMB. For foreign investment projects, the reward, upon approval by the district government, shall be converted into and paid by RMB at the foreign exchange rate on that day (middle rate).
Article 8. Following the principle of “who benefits pays the reward”, the reward shall be advanced by the public finance of Nanhai District and shall be squared up by the public finance at the district and town (sub-district) level at a proportion of 50% each.
Article 9. The new investment projects set up by enterprises in the district shall be awarded with reference to this decree. For enterprises in the district, follow-up injection of capital and enlargement of production, relocation of enterprise, closing the old enterprise and opening a new one do not apply to this decree.
Article 10.Investment introduced by staff of any administrative department of the district and town (sub-district), villagers committee, administration committee of the industrial plate in the town and unit to which the premises belong falls outside the range of reward stipulated in this decree.
Article 11. After the promulgation of this decree, all towns (sub-districts) shall decide on their own whether to continue, adjust or cancel the original incentive measures for rewarding attraction of investment of the towns (sub-districts) and settle the expenditure by themselves.
Article 12. The Bureau of Economy and Trade of Nanhai District shall be responsible for the interpretation of this decree.
Article 13. The decree shall take effect on a trial basis as of the date of promulgation.
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