Nantong takes measures to boost foreign investment
Nantong will further open up and offer more fiscal support to attract foreign investment, according to an official statement recently released by the municipal government.
More sectors, including transportaion, infrastructure and information transmission, will open up to foreign investment. Overseas investors are also encouraged to participate in the mixed-ownership reform of sState-owned enterprises.
Fiancial support will be provided to foreign companies for technological innovation, expansion of production capacity, and cooperation with local comapnies, research institutes and universities.
Those that invest in sectors such as integrated circuits, 5G conmmunication and new energy will also receive subsidies based on the actual paid-in capital.
In addition, the local government will work with financial institutions to provide low-interest loans to foreign trade companies.
The statement also emphasizes the building of an open and fair market and the protection of legal rights for foreign enterprieses, including intellectual property rights.
For major programs with over $100 million in foreign investment, special work teams led by government officials will be set up to help them with such issues as land use, energy consumption and environmental protection.