On January 5, Jiangsu Province released 20 measures covering four areas to further promote the development of private economy.
The province will promote private investment in various sectors, such as transportation, water conservancy, clean energy, new infrastructure, advanced manufacturing and elderly care. Jiangsu will release an annual list of key projects open for private investment, and regularly announce the lists of national key projects and initiatives related to industry and supply chains.
In improving the mechanisms for fair competition, Jiangsu will ensure private enterprises have equal access to support policies in finance, taxation, technology and other fields, and will regulate the handling of complaints.
Jiangsu aims to eliminate barriers in the bidding process and optimize administrative services. Comprehensive service platforms will be established to keep enterprises informed of support measures available.
In creating a better environment for development, Jiangsu will strengthen financial assistance and alleviate the financing difficulties faced by private small, medium and micro enterprises.
The province will also support private enterprises in developing and using renewable energy, promoting their green transformation and reducing costs for pollution control.
To boost technological innovation, Jiangsu requires that private enterprises should participate in at least 60% of the organization and implementation of the province’s key R&D plans and technology commercialization. National key laboratories led by private enterprises will receive financial support. Jiangsu also encourages private enterprises to increase their investment in basic research and jointly carry out technological research with universities and research institutes or co-launch pro-innovation platforms.
Meanwhile, the province encourages research institutes and major innovation platforms to apply technological outcomes in private enterprises. Private enterprises will also be supported to play a big role in fields of transportation, logistics, commerce, healthcare, education, smart cities, and the Internet of Things.
Jiangsu plans to encourage private enterprises to embrace digital, intelligent and low-carbon transformation, contributing to the frontier areas of future industries.
Private enterprises will receive support to engage in international production capacity cooperation, expand their overseas business, and actively participate in the Belt and Road Initiative. Jiangsu supports the development of cross-border e-commerce and other new formats of business, expands insurance coverage and scale for trading companies, and support the pilot project of cross-border financing facilitation for high-tech private enterprises.
To protect the legitimate rights and interests of enterprises, Jiangsu will enhance its law enforcement and judicial supervision mechanisms. It will crack down on criminal activities that infringe upon the intellectual property rights and trade secrets of private enterprises in accordance with the law.
