Xinghua in East China's Jiangsu province is set to strengthen reform and opening up efforts during the 15th Five-Year Plan (2026-30) period, with a focus on innovative development in foreign trade and high-level foreign investment cooperation.
The city aims for an average annual growth of approximately 5.5 percent in foreign trade and plans to attract over $500 million in actual foreign investment, according to Xinghua's 15th Five-Year Plan.
To achieve this goal, Xinghua will enhance systemic integration and efficient collaboration by establishing and improving institutional framework and working mechanisms in key areas, and eliminate barriers hindering development and enhance internal momentum for growth.
Key reforms will target areas including distributed photovoltaics, grid-side energy storage, electric vehicle charging stations, biomass energy, wind power, and hydrogen energy. Efforts will be made to boost state capital's role in developing elderly care services, green energy, and the integration of agriculture, culture and tourism.
Xinghua is committed to improving its business environment by removing regulations that hinder the development of a unified national market and fair competition, creating a comprehensive service system that provides full-cycle, comprehensive, and round-the-clock support.
The city plans to establish a new pattern of openness and cooperation by supporting the development of the port economy and multimodal transport in the Yangtze River Delta.
It will explore the development of a cross-border e-commerce industrial park and guide enterprises to focus on exporting service and technology-intensive products, particularly in the stainless steel, electromechanical, and agricultural processing sectors.
Additionally, Xinghua will attract foreign investment in the fields of new materials, health foods, and high-end equipment industries and encourage existing foreign enterprises to reinvest their profits.
Companies will also be supported in setting up overseas production bases in countries participating in the Belt and Road Initiative and engaging in cross-border mergers and acquisitions.