Business environment further improved in NETDA

Rendering of the Nantong Junsheng Automobile Development Co's NEV 4S store in NETDA. [Photo/WeChat account: gh_78ba52d6e1ed]

Construction recently commenced on a new energy vehicle 4S store in the Nantong Economic and Technological Development Area, or NETDA, marking the first project under a credit commitment system in the area.

NETDA is the pilot area in Jiangsu province to utilize a credit commitment system, under which enterprise investment projects will no longer be subject to strict supervision and approval. The system applies to profit-oriented land projects.

Nantong Junsheng Automobile Development Co is engaged in the sales, exhibition, and service of NEVs and has been authorized by five NEV brands, including BYD and Xiaopeng.

In 2022, Junsheng invested 100 million yuan ($13.85 million) in NETDA to build a service center. This year, the company applied for the construction of more facilities, with a built-up area of about 16,000 square meters for further development.

To promote early completion and operation, local authorities advised Junsheng to adopt the credit commitment system, which allows the company to start construction before obtaining a construction permit.