Lhasa (CNS) -- The Tibet Autonomous Region government announced a series of preferential policies, including zero registration fees, effective from January 1, 2012, in an effort to support local non-public economy.
The administration fees for registration and certifications will be waivered for private business owners and non-public enterprises in Tibet, according to a proposal to promote local non-public economy, jointly released by the region's government and committee of Communist Party of China.
Market access thresholds will be lowered regarding the fields of investment, organizations and management modes, registration criteria, sources of funding, and qualification of applicants, read the proposal.
With regard to the registered capital of non-public companies, only 10% of the total sum is needed to complete the registration. The rest can be secured within three or five years.
The local government expects that by 2015, the number of local non-public organizations will grow to 150,000, with a gross value of more than 46 billion yuan.
