East China’s Jiangsu province has issued a circular on the improvement of the quality of foreign investment amid investment promotion with a view to stabilizing foreign investment for further opening-up and ensuring stability on the six fronts and security in the six areas, according to a press conference held by the provincial government on Wednesday.
The circular includes 23 measures in five categories that target the implementation of national policies for opening-up, strengthening foreign investment promotion and services, improving the facilitation of foreign investment, protecting the legitimate rights and interests of foreign investment, and improving the quality and efficiency of foreign investment.
Under the regular epidemic prevention and control, Jiangsu will strengthen its services for foreign-funded enterprises, give full play to the role of foreign capital, assist key foreign-funded enterprises and foreign-invested projects to invite foreign employees to Jiangsu, and promote the development of international communities and schools for children of expatriates, and optimize the work flow of application for work permits and residence permits for expats.
Zhao Jianjun, Director of Jiangsu Provincial Department of Commerce：We will implement the fair competition system ensure the fair participation of domestic and foreign enterprises in market competition maintain the continuity and stability of foreign investment policies and protect the legitimate rights and interests of foreign investment.
Jiangsu should broaden the use of foreign investment, encourage foreign investment in finance and other fields, give full play to the advantages and functions of the pilot free trade zones in Nanjing, Suzhou and Lianyungang, and encourage the pilot free trade zones to formulate foreign investment promotion policies within legal jurisdiction.
Lin Kang, Director of Jiangsu Strategy and Development Research Center:This year Jiangsu has launched 220 annual provincial major project investment plans including 36 foreign-invested projects. We will guarantee land use, electricity supply and capital allocation for major foreign investment projects so as to promote the early start and early completion of the projects.
Statistics show that since the beginning of this year, Jiangsu has made steady progress in the use of foreign capital with steady improvement of investment quality.
From January to April, Jiangsu established 892 new foreign-invested projects, with actual use of foreign capital of US $ 10.37 billion, a year-on-year increase of 5.7%.
iangsu ranks first in the utilization of foreign capital with the growth rate from January to April better than the national average of 4.4 percentage points.
