China has decided to reduce or cancel import tariffs on a range of products starting Jan 1, 2021.
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.
Nantong, Jiangsu province ranked second among China's top 100 cities by GDP in terms of business environment, excluding four municipalities, 27 provincial-level capitals, and five other large cities with provincial economic administrative power.
Nantong, Jiangsu province has worked out a three-year plan to build a wind power industrial cluster worth more than 100 billion yuan ($14.49 billion) by the end of 2022.
According to data from the tax bureau of Tongzhou district, Nantong, the district is estimated to exempt or refund a total of 6.13 million yuan ($865,636) in taxes for over 60 local foreign trade enterprises this year, since a new national policy on export tax rebate was issued on March 20.
Rugao, a county-level city in Nantong, East China's Jiangsu province, recently introduced a series of incentives to promote high-quality development of the local cultural industry.
The financial sector in Nantong has been offering its full support for the fight against the epidemic and promoting the development of the real economy since the beginning of the novel coronavirus (COVID-19) outbreak, local officials said.
The government of Nantong in East China's Jiangsu province rolled out 12 measures on Feb 14 to help foreign trade companies weather the novel coronavirus pneumonia (NCP) outbreak.