This year, Jiangyan district of Taizhou has prioritized supporting local enterprises in going global, with a strategic emphasis on countries along the Belt and Road. By providing customized services, the district has helped firms enhance both the quality and efficiency of their overseas expansion.
In the first half of the year, Jiangyan approved six new outbound investment projects in major markets like France, Thailand, and Indonesia. These projects cover key industries such as photovoltaics and auto parts, with a total Chinese investment commitment of $81.58 million.
Initially, the district tackled major challenges that companies encounter in international operations. It brought together six firms — such as Jiangsu Pacific Precision Forging and ZYfire Hose Corporation — for a training session and policy briefing focused on overseas risk mitigation. This event provided comprehensive perspectives on investment climates, industrial policies, and regulatory standards, aiding companies in refining their international growth strategies and enhancing their risk management skills.
In addition, Jiangyan has conducted regular visits key enterprises to support the efficient implementation of outbound investment projects. To date, dedicated coordinators have visited four overseas-invested companies to understand their plans and challenges regarding overseas factory construction and market expansion. The district has also simplified the project filing process by providing comprehensive support and allowing "one-time submission and parallel review" of application materials.
Moreover, for complex matters like cross-department approvals and cross-border services tied to outbound investment, various departments have actively collaborated to exchange project filing information and avoid duplicate submissions. This teamwork has offered enterprises a one-stop solution for fund remittance, project approval, and foreign exchange management.
Looking ahead, Jiangyan will keep improving its service mechanisms. It intends to target high-potential areas like Southeast Asia and Central and Eastern Europe, strengthen follow-up activities for filed projects to promote early construction and production, and motivate enterprises to take part in major events such as the China-ASEAN Expo. These initiatives aim to expand outbound channels further and assist more local enterprises in broadening their global footprint.
An aerial view of Jiangyan district. [Photo/VCG]