Hai'an, a county-level city in Nantong, Jiangsu province, has emerged as a powerful force in helping local companies to go public, solidifying its position as a key player in the financial landscape.

The county is currently home to three listed companies and 18 enterprises listed on the New Third Board.

To develop more high-quality enterprises, Hai'an has cultivated 10 advantageous industrial chains, including magnetic materials and electrical components, and has developed sectors such as rail transportation and automotive components. This concerted effort has given rise to a cluster of technology-driven small and medium-sized enterprises.

As a result, the county is currently home to 341 companies with assets exceeding 1 billion yuan ($140.08 million), 461 high-tech enterprises, and 71 enterprises at the provincial level or higher specializing in specific emerging industries.

Leveraging its rich pool of quality enterprises, Hai'an has selected 60 companies which are of high quality and have strong growth potential to be included in an incubation program which aims to help the companies achieve initial public offerings within three years.

Additionally, Hai'an has two companies currently undergoing IPO reviews, four under mentorship for record filing, and over 20 enterprises that have signed onboarding agreements, spanning various sectors such as environmental protection, new materials, manufacturing, and renewable energy.

In a bid to incentivize more high-quality enterprises to go public, Hai'an has introduced commendation measures, offering a maximum reward of 10 million yuan to companies that are listed. Meanwhile, the city has implemented a whitelist system for key industrial enterprises, prioritizing and managing those in the IPO incubation pipeline to ensure their needs are met with preferential support.

China Tianying Inc, one of the listed companies in Hai'an, Nantong, Jiangsu province. [Photo/Nantong Daily]