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Government Agencies Overview Wuhan is the capital of China’s Hubei Province. It is the seventh largest city in the country， and the largest in central China. The Yangtze River and its longest branch， the Hanshui River， cross in Wuhan and divide the city into three parts， Wuchang， Hankou， and Hanyang。 The city is known as the Thoroughfare to Nine Provinces due to its very central location and role as a transportation hub， with Shanghai to the east， Chongqing to the west， Guangzhou to the south， and Beijing to the north. Wuhan is the largest inland port in the country， and it is also the gateway to the Three Gorges Project， which will dam up the Yangtze to create hydroelectric power facilities， due to be completed in 2009. Targeted industries in Wuhan are optoelectronic information， automobile and steel production， biological engineering and pharmaceuticals， and environmental protection. The main economic development zones are the Wuhan China Optics Valley located in the Wuhan East Lake High Tech Development Zone， the Wuhan Wujiashan Technology Development Zone (which specializes in the food and bioengineering industries)， and the Wuhan Economic and Technological Development Zone (which specializes in high-tech and automobile industries). Wuhan is also the site of China’s first environmental industrial park， concentrating on desulfuration technology and equipment。 The Wuhan Foreign Investment Office is the primary government agency promoting foreign direct investment in Wuhan. Each of the development zones is individually administered by a Development Zone Administration Commission. The federal government has established policies encouraging investment in both the software and integrated circuit industries. Integrated circuit manufacturers must set up an IC process with an investment of over RMB 8 billion， or with line width less than 0.25 microns， in order to be entitled to the IC industry incentives described below. New guidelines were approved by the central government of China in mid-2002 for investments in the financial and service sectors. The government has advised in October of 2002 that the guidelines will not be available in English until 2003. Incentives 1a. Full Exemption from 30% Corporate Income Taxes， 20% Withholding Tax， and 3% Local Corporate Income Taxes. |
