Companies boosted by new NETDA policies

The Nantong Economic and Technological Development Area, or NETDA – located in Nantong city in East China's Jiangsu province – recently launched a raft of policies and preferential measures to support the high-quality development of its resident firms.

One beneficiary is Jiangsu Ever-Tie Lighting Co Ltd, which specializes in the development and production of lighting fixtures and which saw its sales rise 75 percent in the first quarter of this year compared with the same period last year.

It planned to list its shares on the Beijing Stock Exchange at the end of the year, but the sudden COVID-19 outbreak in early April interrupted preparations. Not only were raw materials not coming in and products not going out, but stockbrokers and financial intermediaries responsible for the company's listing guidance were quarantined in the factory at one point. 

But at the critical moment, NETDA departments took the initiative to provide forward-looking services to help the company solve its problems.

Thanks to the NETDA and its new policies and measures, the company's output capacity has now recovered to 90 percent, paving the way for listing at the end of the year.

Under to the new policies and measures, to encourage enterprises to list, the NETDA will provide a maximum grant for a single company of 20 million yuan ($2.99 million).