Incorporated in February 2001 in Laiyang Foreign-Oriented Industrial Zone, Laiyang City, Shandong Province, China, Laiyang Foreign-Oriented Industrial Zone implements the close type management and has established independent environment of investment and development which meets the requirements of the regulations of WTO and international practices. Laiyang Sanwei already has situated on 4 hectares with covered workshop areas totalling in excess of 3000 square metres, with construction of a further 5000 square metres of enclosed working area about to conmmence.
Laiyang Sanwei commenced trading in coal as both a wholesale and retail supplier in 1991 known as "Laiyang Guanghui". The name was changed to "Laiyang Sanwei Trade and Economics Company Limited" in February 2001. It has built a significant number of long term mutually rewarding relationships with many mining companie and end users over this period.
Laiyang Sanwei Embroidery has trademarked a catalogue of unique embroideries, tapestries, and handicrafts since November 2003. Combining a conscientious staff with many years experience in hand embroidered, handicraft and tapestries we are able to offer the finest quality products. Our goal is to build long term mutually satisfying business ties where all parties contribute to a bright and profitable future.
Laiyang Sanwei Import and Export registered in October 2004. It handles to import and export various products.
Laiyang Sanwei is looking ahead to import foreign investment to cooperate with the processing of handicrafts, garments manufactory; develop new products; as well as the processing with material supply of handicrafts, garments manufacture. The company also welcomes investors from foreign countries to rent our office and workshops to establish solely foreign owned company in China. Laiyang Sanwei is ready to carry out economic and technical cooperation more extensively with other countries around the world on the basis of equality and mutual benefit.
In order to make potential foreign investors aware of the cooperative intention of Laiyang Sanwei, we enclose all relevant information for your consideration. Laiyang Sanwei welcomes foreign investors to contact or visit us to discuss the COOPERATION.
1. INFRASTRUCTURE OF LAIYANG CITY
Laiyang City, located in the east of Shandong province, is one of the coastal cities first opened to the outside world. The proximity to all forms of transportation in Shandong peninsula, is a significant cost saving factor, and being a mere 100 kilometers from both Qingdao and Yantai Airports and Seaports .(Qingdao Port is the second largest container port in China). The Lancun-Yantai Railway has three stations within the boundaries of the city. Seven highways at national and provincial level run through its administrative areas, with Yantai-Qingdao top-grade highway cutting through its city properly. The exceptional transport advantages made Laiyang become an important distributing centre in Shandong Peninsula. Laiyang City has a reliable supply of water and electricity and modern convenient communication facilities. The program-controlled telephone and Internet access and contact with in excess of 100 countries and regions around the globe contribute to making it is an ideal place for businessmen at home and abroad to interact with both suppliers and resellers. Laiyang has already attracted substantial investments from the U.S., Korea, Japan, Singapore, Swiss, Hong Kong, Taiwan and Malaysia etc.
2. INDUSTRIAL DIRECTORY
According to the related national regulations on foreign investment and industrial policy, the following foreign-invested industries will be greatly encouraged in Laiyang:
1 Foodstuff, which mainly form four pillar industries of vegetable, fruit, animal-husbandry, grain and oil.
2 Machinery, which improve the processing level and ability of diesel engine, cylinder, construction equipments, food processing machinery and automobile fittings.
3 Electronics, which develop electronic processing introducing the projects of fixing and processing of electronic and household appliances.
4 Fruit, forestry and animal husbandry, which introduce fine varieties of fruit, vegetable, flower and tree from abroad to establish production bases with large area and output.
5 Garments, which develop the processing of handicrafts and garments or the processing with materials supply.
3. PREFERENTIAL POLICY
Laiyang City enjoys the relevant policies of the coastal cities, which include:
The productive foreign investment enterprises scheme whereby investments made with a minimum term of at least 10 years shall pay a reduced income tax rate on the current rate of 24%, in the 1st year and the 2nd year of the enterprise becoming profitable, The enterprise is exempt from income tax from the 3rd to the 5th year, the income tax of enterprises will be half reduced.
As for the productive foreign investment enterprise, its technical and intellectual-intensity projects, those with foreign investment of above 30 million USD, those with long term returning and those relating to power and traffic may pay reduced income tax at 15%.
To all enterprises registered in Laiyang Foreign-oriented Industrial Zone during the first 3 years of its establishment, the local portion of the VAT shall be returned at 100% in the 1st year and 50% in the 2nd year, and the urban infrastructure completing fee and the basic educational charge shall be also exempted.
Upon expiration of tax exemption and reduction, the products export enterprises with annual export of products reaching more than 70% of its whole production value may pay reduced enterprise income tax at half of the current tax rate.
Upon expiration of tax exemption and reduction, the enterprises valuated as advanced technical ones may prolong its tax reduction at half for another 3 years with approval of the taxation authorities.
For those enterprises whose profits are reinvested into the same enterprises to increase the registered capital or taken as funds to set up other foreign-invested enterprises and the operation duration is no less than 5 years, if the investors apply and the taxation authority approves, 40% of the income tax paid for the reinvested enterprises can be returned. For enterprises whose profits are reinvested to establish or extend export-oriented or advanced technical ones, all the income taxes for reinvestment can be returned.
Whether the profits gained by the foreign investors from the foreign-invested enterprises are remitted abroad or not, the income tax is exempted.
Laiyang Sanwei Company Spirit:
TA-CELL
Trustworthiness, Adherence, Confidence, Enthusiasm, Leniency, Love