China Tax Alert - Issue 7, March 2013
On 6 March 2013, the National Development and Reform Commission issued the Permitted Industry Catalogue for Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone (“Qianhai Cooperation Zone” or “Qianhai”). The promulgation of the Permitted Industry Catalogue is a significant development of the pilot program which was approved and launched by the State Council last year.
The release of the Permitted Industry Catalogue is a clear message of the Chinese Central Government’s commitment to encouraging further development and opening up in Qianhai. It provides important guidance regarding the direction of investment, the administration of investment projects and the implementation of preferential policies in relation to tax and finance.
The Permitted Industry Catalogue and the Preferential Catalogue are two crucial elements contained in the ‘Announcement on the preferential policies for Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone’ (Guohan  No. 58) and form part of the preferential policies for Qianhai. The promulgation of the Permitted Industry Catalogue also indicates that the Preferential Catalogue will likely be finalized in the near future.