Yangjiang Encourages Development Of Five-star Hotels

According to a document published by Yangjiang Municipal Government it will encourage and reward investment in five-star and higher hotels with the aim of attracting the development of high-star rated hotels in Yangjiang, Guangdong province.

The government will make a grant of CNY5 million for international brand five-star hotels that are already opened. For five-star hotels that are built and put into operation between January 1, 2010 and December 31, 2015, the government will give preferential treatment in land-transfer fees to those with a total investment of over CNY300 million and more than 250 rooms.

In addition the local government will also give preferential treatment to five-star hotels with regard to 37 classes of fees. To encourage further development the government will also rebate 50% of the local retention for business tax and corporate income tax that hotels had paid in the first three years.