12 May 2023
On 12 May 2023, the Foshan Development and Reform Bureau issued the “Various Measures on Stimulating Enterprise Vitality and Promoting High-quality Development in the Foshan Municipality” (“the Measures”). The Measures specified the implementation plans for fully stabilizing foreign trade and foreign investment, including carrying out measures for comprehensively restoring normal land transport between Guangdong and Hong Kong, strengthening the supervision and services for freight enterprises involving direct road transport to Hong Kong and Macao, and supporting foreign investors in establishing high- tech research and development centres. For qualified foreign-funded research and development centres, import of goods used for the development of science and technology shall be eligible for tax reduction and exemption. The Measures will come into force on 12 May 2023 and be valid until 31 December 2023.