The Jiangbei New Area of Nanjing has witnessed the settlement of nearly 1,200 new enterprises over the past two months, thanks to the launch of the free trade zone in Nanjing. These enterprises have brought more than 10 billion yuan of capital as of the end of October. Both figures stand for an increase of 29.8% and 130.4% respectively over the same period of last month.
The mission of the Pilot Free Trade Zone is to implement high-level and high-standard opening to the outside world to promote deeper reforms and innovations, and to explore a set of experiences that can be replicated and promoted elsewhere in the country.
The Jiangbei New Area Administration has released more than 20 preferential policies to back up the operation of the FTZ that was launched less than two months ago.
These measures are meant to significantly relax foreign market access, including the support for foreign-owned enterprises to establish business education training and vocational skills training institutions.
A Canadian-invested company has benefited a great deal from the new deal.
Shen Yangu, CEO, Jiangsu Deying Training Service Co., Ltd.
In the past, wholly foreign-owned enterprises in Jiangsu could not conduct vocational qualification education and training. With the approval of the free trade zone, we wasted no time to apply for the establishment of the company because of the institutional innovation in the opening-up of the Nanjing Free Trade Zone and the improved business environment.
The Jiangbei New Area has focused on investment facilitation and liberalization, aiming at creating a world-class business environment, by comprehensively implementing the national treatment plus negative list management system for foreign investment, and building an investment management system that is compatible with international rules.
At the same time, in response to the corporate needs, the Jiangbei New Area has taken the lead in trying the full-chain platform in Jiangsu, providing "package" services for new enterprises in their industrial and commercial registration, engraving official seals, tax-related matters, and bank account opening and other links. The enterprises can have the application done by submitting the materials through data sharing between different departments, seamless docking, which has comprehensively shortened the time spent on the formalities for approval.
In order to facilitate the business handling of enterprises in the free trade zone, the Jiangbei New Area has further improved hardware services. The Nanjing Administrative Service Center of Jiangsu Free Trade Zone, put into operation four days after the unveiling of the Free Trade Zone, offers services for nearly 90 approval items such as taxation, business registration, trademark application, and investment project construction to ensure all-round and full chain government services.
The Jiangbei New Area has also focused on improving service efficiency and activates the vitality of the market players. Science and technology services, wholesale and retail, business services, and information technology services have reported steady growth with improving quality of development.
Luo Qun, standing member of Nanjing Municipal CPC Committee, CPC deputy secretary of Jiangbei New Area
We have started from the system, mainly around the incentives for talents and the innovation of management systems to create a new functional complex innovation ecosystem that can be replicated elsewhere.
The Jiangsu Free Trade Zone, unveiled at the end of August, covers 119.97 square kilometers in Nanjing, Suzhou and Lianyungang, including 39.55 square kilometers in Nanjing, 60.15 square kilometers in Suzhou, and 20.27 square kilometers in Lianyungang. Each of the three sub-zones has its own advantages and will also have its own strengths.
Nanjing Jiangbei New Area will focus on building an independent innovation pilot zone with international influence, a modern industrial demonstration zone and an important platform for opening up and opening up.
The new zones and the Shanghai FTZ expansion will further optimize China's FTZ layout and better serve national strategy, according to insiders.
(Source:ourjiangsu.com)
