ATTRACT foreign inrestment
   Speech from the major:
    Penglai is a famous coastal senic tourism city,which is well-know for its penglai pavillion all over the world,one of the four outstandingbuilding in china.Here,we have beautiful natural scene and human cultural sceneru wiht a long history ,being one of the earliest open coostal cities,penglai has much business convenient transportation,full basic facilities and develoed industry and agriculture. Inorder to boost the economic development,penglai city opened a new city development pattein under the systen of "one body two wings" according to " Grabbing opportunities,expending csales,using outstrengh and developing in stride working guide,which put emphasis on "garden area" economic bulgregion, enhanle the big city's load-bearing capacity towarding mega-events.In this way,we have formed a economic system of turism,matching fields seaside port,grape wine,car refixation andparts processing industry.
    People of penglai will make full use of the good opportunity of china's entering into WTO and convenient position to expand the scake of opening to the outside world overall and carry our economic internationalization step forward.to perfect the function of city carrier further,lay stress on the important investment projects and programs,such as in the fields of water conservancy,transportation,energy resources,communication and information,ect.we'll make every effort to improve the developping environment,In order to benefit new investors and ourcomers,we'll quicken our step to construct park areas,perfect invest policy,adopt more nimble,practical and effective measures in the fields of technology secure,information
service and administrative decree,ect.Make a good atmosphere for business activities to ensure every investor and out outcomer satisfied.
    Penglai is a valuable place of development,which is a popular area in investing and starting new developments.being beautiful and open,penglai is full of opportunities of business.friends both in and aboard,welcone to Pelnglai to study,deliver information.strengthen communication,enhance friendship and develop together with us.let's go to greet a more beautiful tomorrow!
TAX Policy 
I...Circulation tax.
1.1 About the return tax of export goods.Unless another stipulation was mode by the state council,after going throuth formalities to the customs,the products of foreign
 investment companies can declare export return tax to the tax authority depending on export declearation form and other reference certifscates.

1.2 About free-duty of import goods according to national regulation. the import raw materials for producing export products of the foreign investment companies may be allowed in circulation-free.

1.3 The raw materials of foreign investment companies used for processing of investor's raw materials and processing according to investor's samples may be allowed in import link incement tax free and consumption tax free.

2...Business income tax
2.1 the preferential tax revenue of productive foreign investment companles.Except resource exploit programs.such as oil,natural gas.rare metal and valuable metal,ect,and another stipulation made bythe state council. the productive investment companies which actually run above ten years,can exempt from business income tax in the first and second year since then year of gainning profits.From the third year to the fifth year,may impose half of the business income tax.Foreign investment companies which deal with agriculture,forestry and animal husbandry can enjoy "tow free and three halfed" business income tax after the full preferential period according to stipulation.Besides,after company application and get the sanction of the state countil chief department of tax revenue,may impose 15%~30% of the amount corporation income tax that should be paid in the next ten years from then on.
2.2 The preferential tax revenue of coastal development economic zone.
    The productive foreign investment companies in coastal development economic zine may impose 24% amout of the business income tax. the companies of technology intensive, knowledge intensive or their foreign investment is above 3 million dollars,or have long pay off period programme and the programe of energy resources,transportation and port construction may impose business income tax at the rate of 15%under the sanction of national tax bureau.
2.3 The preferential tax revenue of the export companies and advanced technical companies.

2.3.1    The Product export companies of foreign investment after business income tax reduction period
      according to nation's Stipulations,and all the companies that export the value of product output reach
      70% of the total value of the year,can impose half of the business income tax. Especially companies
      which are imposed by 15% tax rate pay for the business income tax,may impose the business income tax
      at the rate of 10%.
2.3.2    The advanced technology companies of foreign investment remain still after the business income tax
      reduction period according to nation's stipulation, can impose half of the business income tax for another
      three years,and the tax rate which below 10% after halfed tax,may collect the business income tax at the
      rate of 10%.
2.3.3    Foreign companies which transfer technology into our country impose free sales tax;And the companies
      of technology advanced or preferential conditioned,may collect free business income tax after getting the
      sanction of the State council chief department.Foreign investment companies(including foreign invested
      research and develop centre)gain the income from technology transfer may impose free sales tax.
2.3.4    The foreign investment companies which technology develop fee increases 10% and above.