East China’s Jiangsu province has made every effort to promote stable and high-quality foreign trade and investment by continuously expanding opening up to the outside world.
Since the beginning of this year, in the face of adverse effects such as weak global economic recovery and contraction of external demand, foreign trade enterprises in Jiangsu have shown strong resilience, with monthly import and export scale increasing month on month for three consecutive months.
Faced with adverse effects such as sluggish external demand, Jiangsu has introduced 28 policy measures to promote stable scale and optimal structure of foreign trade, establish a tracking service mechanism for provincial-level key foreign trade enterprises, and stabilize stock expansion and increment.
For key projects with newly added imports and exports of over 10 million US dollars and obtaining orders from multinational company headquarters of over 50 million US dollars, Jiangsu will strengthen factors and policy guarantees such as labor, energy, financing, logistics, and customs clearance, and expand its self-operated import and export business.
Jiangsu will provide a maximum subsidy of 80% for booth fees for enterprises participating in provincial overseas key exhibitions, in order to provide greater support for enterprises to expand their market.
At the same time, Jiangsu will promote enterprises to jointly build and share overseas warehouses, optimize the customs filing process for export overseas warehouse models, and accelerate the development of cross-border e-commerce.
“We have continuously optimized the filing process for cross-border e-commerce export overseas warehouses by upgrading the original offline paper filing method to paperless filing, reducing the time spent on filing from about one week to one day so as to have better promoted the rapid landing of cross-border e-commerce export overseas warehouse business for enterprises in Jiangsu”, Xiong Weifeng, Deputy Director of the Free Trade Zone and Special Area Development Department of Nanjing Customs, said.
In order to improve the convenience of entry and exit, and better promote international business exchanges, public security entry and exit departments in Jiangsu will issue multiple visas for foreign personnel from foreign-funded research and development centers, with a validity period of no more than 1 year and a stay period of no more than 180 days.
Jiangsu will support qualified foreign R&D centers' overseas high-level personnel to apply for residence permits for Jiangsu Province's overseas high-level talents, optimize the application process for APEC business travel cards, and increase the number of card holders for enterprise employees.
“Jiangsu will attract more R&D centers of multinational corporations to settle in Jiangsu by facilitating the flow of high-level personnel, which will invisibly play a transformation and upgrading role in Jiangsu's foreign investment, and promote the stability and inflow of foreign investment in Jiangsu”, Li Feng, Deputy Director and Researcher of the Institute of World Economics, Jiangsu Academy of Social Sciences, said.
In terms of greater efforts to attract and utilize foreign investment, Jiangsu will coordinate and prioritize land use indicators for major provincial and municipal projects that meet the key direction of industrial development and have a total investment of no less than 100 million US dollars.
For qualified foreign R&D centers, Jiangsu will ensure that they can enjoy policies such as enterprise R&D expenses deduction and tax agreements. At the same time, the province will revise and improve the incentive policies for foreign headquarters, identify a new batch of provincial multinational company regional headquarters, and provide financial support.
