Zaozhuang sees steady investment

(| Updated : 2020-08-21

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Zaozhuang in Shandong province has been making great efforts to facilitate cooperation and attract investment in the first half of this year amid the economic fallout of the COVID-19 pandemic.

Official statistics showed that from January to July, 43 foreign-funded enterprises were established in the city, a year-on-year increase of 760 percent. The amount of foreign capital actually utilized reached $143.8 million, up 660 percent year-on-year.

In this period, 107 new projects, each with foreign investment exceeding 100 million yuan ($14.48 million), started construction in Zaozhuang.

Li Feng, Party secretary of Zaozhuang, said that while the COVID-19 pandemic severely disrupted the economy, business in the country is getting back to normal with the help of government measures covering the orderly resumption of work and production, as well as effective COVID-19 epidemic prevention and control.


A textile company resumes work in Zaozhuang, East China's Shandong province on Feb 20, 2020. [Photo/Sipa]

Li said that Zaozhuang has adopted online channels to promote projects, conduct business negotiation, sign contracts, and provide government services to facilitate cooperation and attract investment.

In recent years, the city has also launched a series of measures to further improve its business environment and better serve market entities.

The city has also established special working teams and on-site offices to provide "zero-distance" contact services in business incubators and for companies to ensure efficient and timely services.

Shao Shiguan, deputy mayor of Zaozhuang, said that the city is becoming increasingly attractive to investors and that the city signed 196 new projects, each worth over 100 million yuan, in the first half of this year.