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    According to data from ChinaVenture, as of the end of 2025, district- and county-level funds accounted for 44% of the total number of government funds nationwide. However, due to financial constraints, the capital size of these funds represented only 11.3% of the total. Accounting for nearly half of the total number but only 10% of the total capital—this is the true picture of government funds at the county level. Some time ago, a document issued by the General Office of the State Council quietly caused a stir in investment circles. The “Guiding Opinions on Strengthening Supervision, Preventing Risks, and Promoting the High-Quality Development of Private Equity Funds,” commonly known as the General Office’s “Document No. 54.”
    A few days ago, the Ministry of Commerce, the National Development and Reform Commission, and the Ministry of Finance jointly issued the “Action Plan for Stabilizing, Promoting, and Optimizing Foreign Investment,” which consists of 15 measures across five areas. Today, draft amendments to the Government Procurement Law and the Bidding and Tendering Law were jointly submitted to the Standing Committee of the National People’s Congress for initial review. This marks the first time these two laws, which have been in effect for more than 20 years, have been amended simultaneously. Earlier, on June 16, at a symposium chaired by Zheng Zhejie, Director of the National Development and Reform Commission, the issue of “regulating local investment promotion activities” was raised, and this was discussed in the context of deepening the development of a unified national market.
    Without EUV lithography machines, Huawei’s “Tao’s Law” is rewriting the rules of the chip industry. A few days ago, a “bombshell” was dropped on the global semiconductor industry. He Tingbo, a Huawei director and president of the company’s semiconductor business group, officially unveiled “Tao’s Law.” This was not just an ordinary technical presentation, but a complete rewriting of the rules. After this wave of market activity, how much does it actually have to do with attracting investment?
    Recently, the State Taxation Administration made a public statement. It emphasized that addressing the "invoice-driven economy" cannot be done through a simplistic "one-size-fits-all" approach. Without conducting actual verification, authorities should not simply suspend or restrict companies’ invoice issuance or reduce their invoice quotas. Local governments engaged in investment promotion now face a dilemma: they must strike a balance between two conflicting demands. They need to eliminate inflated figures without inadvertently harming compliant businesses; they must correct performance metrics without damaging the business environment. The true test lies in the wisdom of local governments to adopt “tailored approaches” in their investment promotion efforts.
    The artificial intelligence industry has entered a period of rapid growth. Attracting computing power investments has become a popular strategy for local governments to develop their digital economies. However, utilization rates remain below 30%, while operating costs continue to rise. In some regions, blind bandwagoning, subsidy one-upmanship, and the disguised construction of computing facilities have triggered a race to the bottom in computing power investment. Just last week, Xinhua News Agency specifically warned against this “race to the bottom in computing power investment,” directly pointing to the short-sightedness of local development strategies. The fact that the central government has personally stepped in to sound the alarm speaks volumes. It is time to hit the brakes on this computing power race.
    The prospects for local development hinge on the officials responsible for investment promotion. It comes down to whether they dare to face problems head-on, are willing to set aside their egos, and are capable of getting things done effectively. Though blunt, these words pinpoint some of the issues plaguing local development. In regions that successfully attract businesses, the government’s work style serves as the “golden calling card” for investment promotion. Without exception, these regions have taken their approach to the extreme in three key areas: understanding, attitude, and action. Awakening to Reality: Breaking Free from Self-Indulgent Planning When it comes to attracting investment, the first step is to resolve local issues.
    Zhang Xue’s motorcycle has gone viral nationwide. The phrase “not a single penny” has taken social media by storm. After being taken out of context and widely circulated, this statement quickly sent ripples through public opinion. However, a deeper issue has come to the surface. When the government supports businesses, does “giving money” really have to be the only way? This question touches on the core of a paradigm shift in the concept of attracting investment. Now is the time to redefine what it means for the government to support businesses. The best support is letting go; the best environment is fairness; and the best competition is determined by the market.
    There’s a common phenomenon within business development teams. Newcomers, after working for a while, often struggle to identify what companies are looking for. While veteran team members have plenty of experience, their approaches were developed through trial and error in the past. Business development managers understand that with targets being pushed down year after year, relying solely on a few key veterans isn’t sustainable. They want to systematically develop their teams but can’t find a practical training program. So, what is the best way to effectively improve professional capabilities in business development?
    Over the course of a month, the “Straight Talk” column in the Liaoning Daily published a series of short commentaries. Though each piece was brief—just a few hundred words—they were direct and cut straight to the heart of the matter. The more I read, the more I realized they highlighted common issues faced by most localities. Many regions are grappling with similar challenges regarding the business environment, the work ethic of officials, and development philosophies. The commentary ranges from how to conduct consultation meetings and field visits to how to establish a proper view of political achievements and cultivate Party spirit. This high-frequency, high-density series of articles serves as a systematic “collective health checkup” for investment promotion officials. This “health report” also holds up a mirror for localities to reflect on and examine their own investment promotion efforts. On the surface, these are issues of work style. Let’s start with
    At the end of the day, attracting investment is a competition for talent. It’s easy to put up a sign promoting market-oriented investment promotion, but developing the right people is where the real challenge lies. With the new year underway, it’s worth starting by focusing on building the capabilities of our team.
    The "Evolving with Resilience" Beijing Closed-Door Exchange Meeting organized by the Investment Promotion Network has concluded. Directors of investment promotion bureaus, representatives from overseas offices, and investment promotion leaders from across the country gathered here, each bringing their own insights. Even before the meeting began, the venue was already buzzing with lively discussion, as participants spoke freely and collaborated to tackle challenges.
    While conducting field visits and research, I heard some investment promotion directors remark that attracting investment has increasingly come to resemble a grueling test of physical and mental endurance. Yet when it comes time for quarterly or annual reviews, very few projects have actually been signed and implemented. The most direct reason is that most of their time is spent on fruitless meetings and sifting through information.
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