East China’s Jiangsu province has made every effort to optimize its business environment to attract foreign investment, stabilize the growth of foreign investment and improve the investment structures. Let’s take a close look.
Officials from Wujiang Development Zone Administration in Suzhou has kept visiting Ernst Precision Metal (Wujiang) Co., Ltd. every week to find out what help the enterprise needs for new projects.
Ernst Group from Germany is one of the world's leading manufacturers of precision metal forming parts with a history of more than 50 years.
At the end of last year, Suzhou sent an investment attraction team to visit the headquarters of Ernst Group to introduce the construction plan of Suzhou’s automobile industry innovation cluster in detail.
Early this year, Daniel Bruestle, the general manager of Ernst Group, decided to invest 13.5 million US dollars to build new plants and invest in the production of new energy auto parts.
Since the end of last year, Jiangsu has sent a number of investment promotion missions abroad to promote business environment, visit project investment enterprises and promote cooperation.
Bosch Group, Coca-Cola and some other internationally renowned enterprises have recently made additional investments in Jiangsu by setting up Chinese headquarters, research and development centers and some other institutions in Jiangsu.
Benefiting from the increasingly improved business environment, Indonesia's Sinar Mas Group immediately promoted subsequent investment projects after putting into operation the first phase of the Sinar Mas Group Rudong Industrial Base Project with a total investment of 45 billion yuan.
According to the "Several Policies and Measures for Promoting the First Overall Improvement of Economic Operation" issued at the beginning of this year, Jiangsu will invite foreign executives to Jiangsu to carry out investment negotiations in order to promote the stability and quality of foreign investment. Nanjing, Suzhou and Lianyungang have introduced detailed rules to innovate the way of attracting investment.
The latest statistics show that in 2018-2022, 813 enterprises in Jiangsu handled deferred tax and increased the amount of reinvestment by 124.86 billion yuan, exceeding the total sum of the second and third places in the country, reflecting that Jiangsu is becoming the most attractive and competitive investment destination in the world.
