Recently, BASF (Guangdong) Verbund Site Project, with total investment of USD 10 billion, was officially launched in the petrochemical industrial park of Zhanjiang Economic & Technological Development Zone, along with the first batches of installations (to be put into operation in 2022).  

This BASF project, enjoying the largest overseas investment of BASF Group, is the first wholly-foreign-owned petrochemical plant launched this year in China. It will create an integrated value chain covering upstream and downstream productions of basic chemicals and general consumption goods, and provide Chinese and transnational manufacturers with innovative products and solutions in various industries such as automobile, construction, high-speed railway, electrical/electronic equipment, food package, family/personal care, aeronautic/space engineering, and pharmaceuticals.  

In support of this project, Zhanjiang Customs took advance measures to track and serve all relevant processes. As part of the leading group, the Customs actively participated in joint conferences to provide policy consultation and draft or review relevant agreements; made high-level exchange visits in communication with BASF and the municipal government of Zhanjiang City for the project implementation; discussed with the expert group on whether some preferential policies were applicable to the TPU production equipment involved and, by making clear the scope of tax reliefs, provided timely guidance for tax-relief application and registration, equipment importing procedures, etc., thus ensuring the policy foundation of the project.       

According to Zhanjiang Customs Division of Duty Collection, they adopt the mode of “local taxpayer management”, including the one-on-one service, to help all participant enterprises. Therefore, both Chinese and foreign enterprises have the way to understand relevant policies, comply with law or regulations, solve tax-pay problems and tell their specific demands, which can boost their confidence in the business environment.