The Nanning municipal government recently announced plans to build a human resources service industrial park in the Nanning area of the China (Guangxi) Pilot Free Trade Zone (FTZ) and it will implement 10 measures to support the high-quality development of the park.

Nanning Human Resource Service Industrial Park plans to set up one core park and one sub-park, with an overall planned construction area of at least 100,000 square meters.

The park will strive to attract more than 200 enterprises to settle in it within five years after its completion. It also aims to have annual revenue of more than 50 billion yuan ($7.86 billion), attract more than 10 well-known human resources enterprises to settle in it, and upgrade to a national human resources service industry park.

Enterprises settling in the park can be exempted from local corporate income taxes for five years and will be rewarded according to 70 percent of their contribution to Guangxi's economy in five years. The park will offer an annual revenue growth incentive of up to 1 million yuan, while the loan interest subsidy for a single project is up to 5 million yuan. In addition, successfully listed companies can receive grant listing subsidies of up to 5 million yuan. Senior executives and technical talents with annual taxable wages and salaries of more than 300,000 yuan in the park will be rewarded according to 100 percent of their contribution to the local economy in the year.

In 2021, there will be 52 human resources enterprises above designated size in Nanning, with a growth rate of 32.3 percent in operating income, 2.3 percentage points higher than the city's service industry growth rate.

The Nanning area of the China (Guangxi) Pilot Free Trade Zone. [Photo/WeChat account: gh_df8bc987e060]