A view of Nantong's skyline. [Photo/Nantong Daily]

Nantong recently introduced measures to attract and utilize foreign investment, aiming to become an optimal investment destination for multinational companies in the Yangtze River Delta.

The new measures include supporting the expansion of foreign investment in the manufacturing industry, facilitating the diversification of channels for foreign investment utilization, encouraging multinational companies to establish regional headquarters and functional institutions in the city, implementing tax reduction and exemption policies for imported equipment in foreign-invested projects encouraged by the country, promoting the establishment and operation of foreign investment enterprise equity protection service stations, and enhancing convenience for foreigners coming to Nantong.

Foreign-funded enterprises have long been an important driver of Nantong's high-quality development. From the establishment of the first Sino-foreign joint venture company in the city in 1984 to the recent influx of landmark foreign investment projects like the Bayer Health Consumer Goods Supply Center, Nantong has now attracted over 3,800 foreign enterprises, with actual foreign investment exceeding $50 billion. Among them, more than 60 Fortune 500 companies have invested in 112 projects in the city.

Gao Hongjun, head of the Nantong municipal bureau of commerce, said that the city will establish a systematic, professional, and internationalized new system for attracting investment, aiming to connect extensively with global resources. The city will focus on German-speaking regions, Northern Europe, Japan, Singapore, the Middle East, and other countries.