Taizhou city in Jiangsu province saw significant growth in its overseas investment projects in the first half of this year, with 20 new projects approved, marking a remarkable increase of 122.2 percent compared to the previous year.
The total investment from Chinese partners in these projects reached $280 million.
Among the regions within Taizhou, Jiangyan district stood out with four newly approved overseas investment projects from January to June, totaling $152 million in Chinese investments and accounting for more than half of the city's total.
Taizhou has been actively expanding its international presence in recent years, seeking development resources in global markets. For example, Jiangsu BioPerfectus Co Ltd in the Taizhou Medical High-tech Zone invested over $16 million in the United States and the United Kingdom for medical device research and production. It has also allocated $10 million for clinical-grade gene testing in the US.
Taizhou has also offered real-time services, as well as implemented a paperless foreign investment registration system to streamline processes. Businesses can upload scanned documents online, and if all requirements are met, registration certificates are issued on the same day, reducing approval time from three working days to just one.
Additionally, the Taizhou municipal bureau of commerce is actively assisting prospective overseas investors by addressing their concerns and demands regarding policy support and industrial development. They aim to provide comprehensive support throughout the entire investment process. The bureau is also collaborating with other departments to enhance risk assessment, monitoring, and early warning systems for overseas security. This ensures the continued success of Taizhou's overseas enterprises.