Photo taken on November 26, 2022 shows a worker busying making automotive sensors in a foreign-invested company in Yangzhou City, Jiangsu Province. (CFP file photo)

Jiangsu will give priority to promoting the stable and quality-orientated growth of foreign trade and foreign direct investment this year, according to the province's latest measures to boost economic recovery.

Jiangsu will support enterprises to participate in more than 100 key overseas exhibitions onsite, including offering subsidies.

To help small and micro firms in foreign trade, Jiangsu's Department of Commerce will continue the funding support so more traders can enjoy a lower premium for export credit insurance, a groundbreaking initiative that already assisted more than 10,000 companies in 2022.

Last year, Jiangsu's actual use of FDI maintained first place in the country. In 2023, the province will continue to implement a 3-year plan that encourages foreign-funded enterprises to reinvest their profits and also ensure the stable operation of companies engaged in key production links, warehousing and logistics.

Professor Han Jian of Nanjing University Business School said that it's important to ensure the comprehensive service to key foreign-invested projects so they can play a positive role in improving the province's supply and industry chains and also enhancing the quality of foreign trade.