Favorable Policies, Quality Services Boost Investment to Central Chinese City

From January to August, the city landed 500 projects of over 100 million yuan, with a total investment volume exceeding 200 billion yuan. The number of large scale enterprises has also arrived at 1,188. Its growth rate of fixed-asset investment and market entities topped Hubei in 2016 and the first half of 2017.

Due to underdeveloped transportation and lack of resources, the city’s development had relied heavily on chemicals and agriculture. Over the past two years, the city government has made concrete efforts to streamline procedures for companies doing business in Jingmen, and provided favorable supports.

“The new policies are highly practical,” said Li Qiang, president of Hongxin Entrepreneur Incubator Investment Group.

Official data showed that the city has canceled 17 charging items since last year and saved enterprises 2 billion yuan of cost.

On the other hand, the city government has also established offices to offer targeted services for business newcomers and boost administrative efficiency. Through the establishment of standardization, the government was able to cancel 39 approval processes and shorten the waiting time by 30 percent. A total of 340 items involving 33 government offices have been integrated to offer a more convenient experience for companies setting up new businesses in the city.

Meanwhile, government leaders have been “all out” to solicit investment and design tailored services for every and each project.

The Party and government leaders at various levels are all in charge of a certain industry and have organized a team specifically working on investment solicitation. Luo Shaohua, deputy secretary-general of the city government, said city-level leaders were obliged to go on a business trip to attract investment at least once a month, and each of them must introduce at least one project worth over 500 million yuan of investment every year.

In addition, a special “secretary” from the government would be appointed to each project to facilitate investors in solving problems.

According to Xu Xiaohua from the city government, the city’s 129 major projects have all been appointed with special secretaries who follow closely to address any unexpected issues and make sure everything sticks to the schedule.

“Service is the key to keeping companies and investment,” said Lin Changzhou, Party chief of Zhongxiang City under the administration of Jingmen.

Zhongxiang has introduced an all-encompassing government supporting package to incoming companies, helping them with application, construction, training, and even housing for employees.

Taking the city government’s meticulous service into consideration, Huang Yuhong, general manager of Hubei Youhong electronics technology company, decided to open his new factory in Zhongxiang.

Innovative methods have been applied by the city government to improve its investment attractiveness. The heavy-asset package was one of them.

Based on the government-backed investment and financing platform, the city forged in-depth cooperation with industrial giants. The government secured medium and long-term loans from financial institutions to build heavy assets, so that incoming companies can bring their “light-asset” to begin production within a short period.

Zhang Yitao, mayor of Jingmen, said heavy-asset building greatly improved the city’s attractiveness and competitiveness in persuading new companies to base their industries here.

Last year, the city implemented 62 heavy-asset projects, with approved bank loans of 18 billion yuan, and built over 3 million square meters of factories and public service platforms.

A 10-square-km equipment manufacturing park was built thanks to a government-backed investment company to offer tailored factories and equipment packages for investors.

Jinlin Machinery Manufacturing Co. Ltd. originally planned to invest 10 million yuan to purchase land and build factories. Thanks to the heavy-asset project, the company rented 10,000 square meters of factories from the government and began manufacturing in just 45 days.

From 2015, the city government decided to focus on the development of equipment manufacturing, new energy and materials, agricultural deep-processing, electronic information, renewable resources utilization and environmental protection.

In addition to simply introducing companies, the government paid more attention to building an industry that included an overall plan, a public service platform, a professional investment solicitation team, an industrial investment company and a fund.

Years of work have also enhanced the city government’s judgement and overall coordination capability, which further streamlined its procedures, improved investment quality and approving efficiency.

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SOURCE Jingmen Municipal Government

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About the Author: Carrie Brunner

Carrie Brunner grew up in a small town in northern New Brunswick. She studied chemistry in college, graduated, and married her husband one month later. They were then blessed with two baby boys within the first four years of marriage. Having babies gave their family a desire to return to the old paths – to nourish their family with traditional, homegrown foods; rid their home of toxic chemicals and petroleum products; and give their boys a chance to know a simple, sustainable way of life. They are currently building a homestead from scratch on two little acres in central Texas. There’s a lot to be done to become somewhat self-sufficient, but they are debt-free and get to spend their days living this simple, good life together with their five young children. Carrie writes mostly on provincial stories.
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