East China’s Jiangsu province spared no efforts to promote higher level of opening-up and stabilize the overall performance of foreign trade and foreign investment in the first half of this year against the adversities and challenges brought about by the COVID-19 pandemic.
In the January-June period, Jiangsu registered 12.46 billion US dollars of new foreign investment, up 0.2% year on year, which is a really impressive achievement against the widespread declining foreign investment across the country.
The achievement has been attributed to the creative use of the policies of the central government and the resolve and determination to welcome investment with improved business environment.
Ye Qizhong, Mayor, Xushuguan Town, Suzhou
We have provided full-process and comprehensive services in site selection, industrial and commercial registration, land bidding and auction, surveying and mapping, planning and design
In the first half of this year, Jiangsu has released a slew of preferential policies to stabilize foreign investment and foreign trade.
Jochen Kirkorowicz, CEO, Foehl China Co., Ltd.
The government’s policies have helped our German companies a lot. We worked together to survive this difficult period, I’m really grateful.
Phoenix Painting Materials is an enterprise engaged in the export of painting materials. During the epidemic period, the company's overseas offline channels were almost completely blocked.
With the support of the local government, the company uploaded all mainstream products on its cross-border e-commerce platform so that it has retained the original customers while the advantages of big data made its products more popular.
Li Jinsong, Deputy General Manager of Jiangsu Phoenix Painting Material Technology Co., Ltd.
From January to May, our cross-border e-commerce sales revenue increased by 8 times compared with the same period last year.
In the meantime, Jiangsu released a slew of preferential policies concerning the boosting financial services, reducing taxes and fees, alleviating pressure and difficulties for importers and exporters, promoting resumption of work and production, launch online exhibitions and promoting digitalized upgrade of traditional conferences and conventions.
Jiangsu has also promoted the construction of 10 national-level cross-border e-commerce comprehensive pilot zones and provincial-level public overseas warehouses, and accelerated the docking of overseas mainstream e-commerce platforms.
In June alone, Jiangsu registered an annual growth of 1.7% in its imports and exports, reporting positive growth for the first month since the onset of the COVID-19 pandemic and stabilizing the essentials of the province’s economic operation.
Zhang Erzheng, Chief Expert of Open Economy, Yangtze River Industry and Economic Research Institute, Nanjing University
Facing the severe situation of trade protectionism and the escalating COVID-19 around the world, Jiangsu has stabilized its foreign trade and foreign trade. Jiangsu should further expand its opening up and focus on coastal development . Development zones should replicate and promote the experience of free trade zones, and accelerate institutional opening up so as to promote high-quality development with a higher level of openness.
