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Business
Print Edition> Business
UPDATED: March 10, 2014 NO. 11 MARCH 13, 2014
New Economic Advantages
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Jiangyin Port, the largest deep-water port in Fujian Province

In the mechanic equipment industry, Fuzhou is in a leading position of the country with its special enameled wire technology, and it ranks first in China for the exports of small and medium-sized internal combustion engines and power-generating equipment.

In the textile industry, Fuzhou is one of the country's premium producers of warp-knitted and polyester blended fabric, and Changle County of Fuzhou is one of the country's three biggest production bases for warp-knitted fabric.

Among the first 14 open coastal cities in China, Fuzhou is one of only two provincial capitals. It's also the only provincial capital in the economic zone on the west side of the Taiwan Straits. As a provincial capital, Fuzhou has dense flows of people, goods, capital and information and well developed resources in terms of science and technology, education and culture. In terms of developing modern service industries, advancing innovation and nurturing emerging strategic industries, Fuzhou has a greater number of potentials and advantages than other cities.

In recent years Fuzhou has made an effort to carry out a strategy of opening up, making new friends, and collecting resources from home and abroad.

At present, the State Council is encouraging coastal cities in east China to take a leading role in the development and support of Fujian in order to accelerate construction of the economic zone on the west side of the Taiwan Straits. Grasping this opportunity, Fuzhou has strengthened contact with state-owned enterprises under the Central Government, private enterprises and foreign-invested enterprises and received 679 projects from them, with intended investment of more than 1 trillion yuan ($163.6 billion).

Fuzhou has formulated a series of policies to accelerate development of modern logistics, financial, e-commerce, service outsourcing, tourism and cultural industries. In the meantime, Fuzhou has made an effort to implement a talent strategy and has accelerated establishment of the country's first comprehensive national-level experimental zone of talent introduction, offering favorable policies to talent coming to Fuzhou, including support for startup funds, financial support for research project, return of individual income tax, guarantee of housing, the employment of spouses of employees and entrepreneurs and the education of their children.

Fuzhou has attached great importance to the development of industrial parks, especially in the area of introducing parks for emerging industries. Based on industrial development, Fuzhou aims to introduce projects and high-profile talent, conforming to the development plans of the city.

Fuzhou tries to set up the best possible environment for investment and make the city an attractive investment destination. Detailed measures include comprehensively deepening reform of the administrative examination and approval system by reducing the number of items subject to approval, simplifying examination procedures and improving the efficiency of administrative approval; setting up an administrative service center, and providing quality one-stop services to enterprises and talent.

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