Dubbed the "window" of China's opening-up, the coastal city of Xiamen in East China's Fujian province is setting the standard for high-quality development of foreign-funded ventures.
A view of the coastal city of Xiamen in East China's Fujian province. [Photo/China Daily]
Addressing sustainable actions to attract investment and optimize the local business environment, China Council for the Promotion of International Trade Xiamen Committee, or CCPIT Xiamen, has established a special work group to better serve such enterprises.
New methods have been adopted to promote preferential policies to enterprises, and various exhibitions have been organized to support businesses in going global. The vision of the special work group is that assisting foreign-funded enterprises achieve peak performance and contribute to greater development of the city.
To reduce the operational costs of foreign-funded enterprises, since July 2022 the work group has cooperated with multiple governmental departments to learn about the operating conditions of foreign-funded enterprises by visiting 280 key businesses and providing on-site services.
Special work group is providing suggestion to enterprise owners. [Photo/China Daily]
During their visits, group members explained the city's latest policies to the managers of foreign-funded enterprises, and staff members of the local commercial bureaus provided detailed information on measures to promote the increase, stabilization, and quality improvement of foreign investment.
In response to suggestions and opinions raised by foreign-funded enterprises, the work group has provided targeted assistance plans that facilitate investment promotion.
Huanqiao (Fujian) Industrial Holdings and Yingyu (Xiamen) New Energy are two key enterprises in Xiamen's Xiang'an district. On June 25, the district's special work group learned during its visits that Huanqiao (Fujian) Industrial Holdings had encountered difficulties in relocating and opening bank accounts. In response, the team immediately worked with the local industry and commerce department to help the enterprise complete the relocation process.
Prior to this, with the coordination of Xiang'an district's special work group, the city's commerce bureau and some other administrations established a green channel for Yingyu (Xiamen) New Energy to accelerate the review and approval process for coal's automatic import permits.
Responding to difficulties
Since the beginning of the year, CCPIT Xiamen has been examining the requirements of the "three shifts" in their work. These include shifting from collecting and reflecting demands to conducting in-depth research; from tracking and solving problems to optimizing the business environment; and from serving foreign-funded enterprises to facilitating local investment promotion. The aim is to make services for foreign-funded enterprises more meticulous, thorough and sustainable, via practical actions.
For example, with the assistance and coordination of the special work group at both the district and street levels, Xiamen Siming district's Linde (China) Forklift Truck has expanded its market share and service capability through a key project with an investment worth 22.42 million yuan ($3.07 million).
During visits by the special work group, some foreign-funded enterprises pointed out the COVID-19 pandemic caused a decline in orders. In response, the work group relayed the information to relevant departments and provided assistance in helping those enterprises gain more business.
Diversified means of services
This year CCPIT Xiamen organized China(Xiamen) International Cross-Border E-Commerce Expo, or ICEIE, and the 22nd World Business Leaders Roundtable to promote new trade formats such as cross-border e-commerce, offshore trade and overseas warehouses. These events also help support SMEs in maintaining orders and expanding markets while opening new channels for attracting foreign investment, and promote communication and development among countries, optimization of the business environment and the stable stock and expansion of foreign investment.
Foreign enterprises participate in trade exhibitions in China. [Photo/China Daily]
The CCPIT Xiamen's coordination of overseas investment and trade service liaisons has been accelerated by establishing overseas liaison offices in Chile, Brazil and other countries. So far, a total of 54 overseas liaison offices have been set up in 44 countries and regions, and cooperation agreements have been signed with seven international institutions to support companies to participate in international market and labor division in industry.
So far this year, the council has invited and received visits from foreign embassies and consulates in China, overseas economic and trade organizations and chambers of commerce, with 33 rounds and 150 visits in total. In response to the needs of enterprises, it also organized economic and trade matching activities with 62 sessions and more than 6,000 participants offline to fully assist enterprises in expanding overseas markets.