The cities of Suzhou and Wuxi in east China’s Jiangsu province have unveiled a series of pro-active policies to spur the recovery and momentum of high-quality economic development. Let’s take a close look.
Suzhou released 14 measures on Tuesday to promote the stability, scale, and structure of foreign trade by providing subsidies of no more than 80% of the actual expenses for booth fees and large exhibition return fees for enterprises participating in overseas exhibitions, accelerating the promotion of new models and formats of foreign trade, cultivating a group of high-quality second-hand car export pilot enterprises, promoting the development of "cross-border e-commerce+industrial belt", encouraging the branding development of cross-border e-commerce enterprises, and improving convenient customs clearance.
“The government has always been concerned about the development of foreign trade enterprises by allowing us to confidently and boldly explore the market. We expect the overall foreign trade to continue to grow steadily throughout the year,” said Zhu Shiyan, General Manager of Asia Market, Baoshide Technology (China) Co., Ltd.
“We will optimize our services to enterprises, cultivate new driving forces for foreign trade development, and continue to promote breakthroughs in cross-border e-commerce, increase factor guarantees, strengthen financial service guarantees, and reduce financing costs for enterprises, in order to achieve high-quality development of the city’s foreign trade,” said Shen Jianchun, Director of the Foreign Trade Department of Suzhou Municipal Bureau of Commerce.
Wuxi has issued the "Implementation Opinions on Further Promoting the High-Quality Development of Listed Companies" by introducing 12 measures to help enterprises gradually increase the proportion of strategic emerging industries in their main business through industrial chain extension and achieve external expansion.
Among the top 500 listed companies in China in 2022, six companies in Wuxi made it to the list.
Wuxi has recorded 116 A-share listed companies, ranking among the top in terms of quantity and total market value among similar cities in China. Statistical data also shows that more than half of the listed companies in the city have a market value between 3-5 billion yuan.
“We will strengthen guidance on the classification of listed companies with a market value of less than 5 billion yuan, establish a high-quality development fund for municipal listed companies with a total scale of 5 billion yuan, and continuously optimize the business environment for the development of listed companies,” said Zhang Hongjun, Deputy Director of Wuxi Local Financial Supervision Bureau.
