On July 4, the Policy Presentation Conference on Serving Foreign-funded Enterprises hosted by Zhejiang Provincial Tax Serviceof the State Taxation Administration interpreted the latest preferential tax policies, attracting many representatives from foreign-funded enterprises to participatein the event.

According to the policy, from 2025 to 2028, for the eligible foreign investors, the tax payable of foreign investors for the current year can be offset based on 10% of the investment amount.

Zhejiang also provide foreign investors with better services. The tax authorities in Zhejiang help cross-border taxpayers accurately understand the policies, efficiently handle the relevant business activities, and reduce the risks and costs of cross-border operation. Hangzhou’s tax department also provides the consultation in 14 foreign languages.

It is reported that, in 2024, the foreign investment actually used in Hangzhou was 6,542 million US dollars, ranking the third in China.