Photo taken on August 1, 2023 shows a workshop at an electronic components company in Sihong County, Suqian City, Jiangsu Province. (CFP Photo)
Suqian City has rolled out 25 policies across six fields to bolster its economic recovery and growth, building on the initiatives previously introduced by the CPC Jiangsu Provincial Committee and the provincial government.
Shan Dongfeng, deputy director of the city’s Development and Reform Commission, said that the measures aim to address practical problems affecting economic development.
Firstly, Suqian will promote the construction of distinctive commercial streets and create new landmarks to boost consumption. The city encourages discounted tickets at tourist attractions or free admission during off-season, hosting promotional activities, and facilitating the trade of used cars and purchase of new energy vehicles. Suqian will stimulate spending on home appliances, furniture and house decorations, and encourage companies to offer online promotions and expand their e-commerce channels.
Secondly, to actively attract investment, Suqian will carefully plan infrastructure projects, implement the national and provincial policies to facilitate private investment, and encourage the participation of private investment in project construction.
Thirdly, in support of key industries, Suqian will advance the intelligent and digital transformation of enterprises, increase loan support for photovoltaic projects, assist real estate and construction sectors, and continue to provide house subsidies and tax rebates. Additional support will be provided for express logistics, e-commerce and SMEs, as well as tax incentives and loan support for entrepreneurship.
Fourthly, to improve the quantity and quality of foreign investment and foreign trade, Suqian plans to offer enhanced services to key foreign-invested projects. For manufacturing and high-tech projects with an actual use of foreign investment of $10 million, the city will assist in applying for special funding. Efforts will also be made to help enterprises participate in exhibitions and expedite cross-border trade settlements.
Fifthly, to support scientific and technological innovation, the city will fund the commercialization of major innovation achievements of enterprises. Suqian will also provide subsidies to universities, research institutions, medical units and industry-leading enterprises for basic research.
Lastly, Suqin pledges to streamline government services to ease the burden on enterprises. Across the province, Suqian aims to have the least number of paid administrative service items and lowest fees. The city will also promote the e-government services to speed up administrative approvals, making it the most efficient provider of government services in Jiangsu.
