China Daily had an exclusive interview with Jiangsu Provincial Governor Luo Zhijun to discuss the strategic programs for the development of Jiangsu province. The following is one part of the Q&A of the interview.
Q: What new strategies has Jiangsu developed for its economy in terms of foreign trade and investment? What about international outsourcing services?
Luo: By the end of last year, $142.3 billion in foreign capital was invested in the province, nearly one fifth of foreign investments in China. More than 300 world-class multinational companies invested in Jiangsu. Our total foreign trade reached $349.7 billion last year, including $203.7 billion in exports. This was one sixth of the total of China's total foreign trade and exports last year.
Jiangsu will further innovate ways of using foreign capital, guiding more foreign capital to high-end manufacturing, R&D, the modern service industry, energy-saving industries and environmental protection industries, as well to the middle and northern parts of the province.
The province will strengthen exports, enhance brand cultivation, increase the proportions of independent-brand products, hi-tech products and products with high added value. We shall also encourage the import of advanced technical equipment and the energy resources that Jiangsu lacks.
The province will provide support for enterprises to establish production bases, resource bases, marketing networks and R&D centers in foreign countries.
Speeding up the development of the international outsourcing industry is one of the key strategies of the Provincial Committee of the CPC and the Provincial Government in order to forge the province into an important base for international outsourcing. At present, the province has three state-level service outsourcing bases, namely Nanjing, Suzhou Industrial Park and Wuxi Taihu Lake Reserve, and more than 1,000 outsourcing services companies of various types.