Efforts are being made to develop a much better business environment in Qidong. [Photo/WeChat account: qidongfabu]

The county-level city of Qidong – administered by Nantong in East China's Jiangsu province – recently rolled out a number of preferential policies for its resident enterprises, in a bid to create a first-class business environment.

They involve 100 policies in 10 major categories – covering the advanced manufacturing industry, modern service industry, scientific and technological innovation, investment promotions, administrative approvals, talent and recruitment, finance and taxation, culture and healthcare, market supervision and legal services.

Grants and subsidies, among other things, will be given to major industry projects, producer services and emerging services projects, sci-tech projects and research and development platforms.

Enterprises are to be encouraged to develop cross-border e-commerce and comprehensive export-oriented service platforms. Subsidies and grants will be given to national upgraded foreign trade bases and to enterprises that build or rent overseas warehouses.

The approvals process for industrial project planning will be shortened. The average processing time will be one working day faster than the promissory one. In terms of market supervision, support will be provided for new medicines, modified new drugs, patents for invention and other areas of interest.