Country for PR: China
Contributor: Xinhua News Agency
Thursday, October 26 2017 - 12:55
AsiaNet
Favorable Policies, Quality Services Boost Investment to Central Chinese City
JINGMEN, China, Oct. 26, 2017 /Xinhua-AsiaNet/--

To solicit investment and promote industrial upgrading, the government of 
Jingmen City in central China's Hubei Province has introduced a series of 
supportive policies and services in the city's economic development, and gained 
some achievements.

From January to August, the city landed 500 projects of over 100 million yuan, 
with a total investment volume exceeding 200 billion yuan. The number of large 
scale enterprises has also arrived at 1,188. Its growth rate of fixed-asset 
investment and market entities topped Hubei in 2016 and the first half of 2017.

Due to underdeveloped transportation and lack of resources, the city's 
development had relied heavily on chemicals and agriculture. Over the past two 
years, the city government has made concrete efforts to streamline procedures 
for companies doing business in Jingmen, and provided favorable supports.

"The new policies are highly practical," said Li Qiang, president of Hongxin 
Entrepreneur Incubator Investment Group.

Official data showed that the city has canceled 17 charging items since last 
year and saved enterprises 2 billion yuan of cost.

On the other hand, the city government has also established offices to offer 
targeted services for business newcomers and boost administrative efficiency. 
Through the establishment of standardization, the government was able to cancel 
39 approval processes and shorten the waiting time by 30 percent. A total of 
340 items involving 33 government offices have been integrated to offer a more 
convenient experience for companies setting up new businesses in the city.

Meanwhile, government leaders have been "all out" to solicit investment and 
design tailored services for every and each project.

The Party and government leaders at various levels are all in charge of a 
certain industry and have organized a team specifically working on investment 
solicitation. Luo Shaohua, deputy secretary-general of the city government, 
said city-level leaders were obliged to go on a business trip to attract 
investment at least once a month, and each of them must introduce at least one 
project worth over 500 million yuan of investment every year. 

In addition, a special "secretary" from the government would be appointed to 
each project to facilitate investors in solving problems. 

According to Xu Xiaohua from the city government, the city's 129 major projects 
have all been appointed with special secretaries who follow closely to address 
any unexpected issues and make sure everything sticks to the schedule.

"Service is the key to keeping companies and investment," said Lin Changzhou, 
Party chief of Zhongxiang City under the administration of Jingmen.

Zhongxiang has introduced an all-encompassing government supporting package to 
incoming companies, helping them with application, construction, training, and 
even housing for employees.

Taking the city government's meticulous service into consideration, Huang 
Yuhong, general manager of Hubei Youhong electronics technology company, 
decided to open his new factory in Zhongxiang.

Innovative methods have been applied by the city government to improve its 
investment attractiveness. The heavy-asset package was one of them.

Based on the government-backed investment and financing platform, the city 
forged in-depth cooperation with industrial giants. The government secured 
medium and long-term loans from financial institutions to build heavy assets, 
so that incoming companies can bring their "light-asset" to begin production 
within a short period.

Zhang Yitao, mayor of Jingmen, said heavy-asset building greatly improved the 
city's attractiveness and competitiveness in persuading new companies to base 
their industries here.

Last year, the city implemented 62 heavy-asset projects, with approved bank 
loans of 18 billion yuan, and built over 3 million square meters of factories 
and public service platforms.

A 10-square-km equipment manufacturing park was built thanks to a 
government-backed investment company to offer tailored factories and equipment 
packages for investors.

Jinlin machinery manufacturing company originally planned to invest 10 million 
yuan to purchase land and build factories. Thanks to the heavy-asset project, 
the company rented 10,000 square meters of factories from the government and 
began manufacturing in just 45 days.

From 2015, the city government decided to focus on the development of equipment 
manufacturing, new energy and materials, agricultural deep-processing, 
electronic information, renewable resources utilization and environmental 
protection. 

In addition to simply introducing companies, the government paid more attention 
to building an industry that included an overall plan, a public service 
platform, a professional investment solicitation team, an industrial investment 
company and a fund.

Years of work have also enhanced the city government's judgement and overall 
coordination capability, which further streamlined its procedures, improved 
investment quality and approving efficiency.

SOURCE: Jingmen Municipal Government

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