In the first two months of this year, Huai’an City added eight new foreign investment projects involving a total investment of $615 million, according to the city’s commerce department.
As of March 5, 198 foreign-invested industrial enterprises above the designated size, a statistical term to refer to those with annual main business revenue of 20 million yuan, or 97 percent of the total, had resumed their production in the city.
Huai’an has adopted different, targeted measures to ensure project progress. Local government will strengthen the contact and coordination for projects that won approval last year but have not received funding. For projects with fund but slow progress, the government will increase monitoring and conduct monthly follow-up checks. Ongoing project that have received funding will be urged to speed up the construction. The city will investigate reasons behind canceled projects, especially for those cancelled even with paid-in investment, and also propose suggestions.
The city will strengthen its policy research and publicity to guide foreign trade companies to understand relevant supporting measures. It will further optimize business services and support foreign trade companies to develop new business operations, such as cross-border e-commerce.