East China’s Jiangsu province will step up its efforts to promote the overall improvement of the province's business environment and build the world's most attractive and competitive investment destination.
The judges from Suzhou Wuzhong District Court recently visited the time-honored company Gan Shengyuan for the second time. Last year, the "China Time-honored Brand" with a history of more than 240 years entered bankruptcy and liquidation proceedings due to the failure of shareholders' investment.
In order to restore the reputation and corporate image, the local court took into account the legitimate rights and interests of all parties, sorted out the creditor's rights and debts, and introduced Internet technology companies as back-up investors to guide the company to organically combine traditional techniques with modern marketing methods.
With the help of multiple departments, the company has launched various cultural and creative gift boxes, which quickly became popular in the market, realizing a gorgeous turn from a "zombie" company and entering a new stage of development.
Suzhou has recently set up an out-of-court debt restructuring guidance center to provide debt restructuring consulting and financing support services for distressed enterprises.
The bankruptcy and reorganization process, which originally took more than a year, has been reduced to less than two months. At present, more than 20 companies have achieved regeneration.
Various localities and departments are constantly introducing new measures. Yangzhou has selected service specialists to visit the front line of enterprises, and released policies to benefit enterprises and assist in declaration policies.
Wuxi and Taizhou have expanded their interaction with entrepreneurs to have discussed the difficulties and problems encountered by enterprises in the course of development.
The Nanjing sub-zone of the Jiangsu Pilot Free Trade Zone has launched the first original intellectual property certification platform to bring the number of intellectual property pledge projects to the level of 10% of the national total.
