Development depends on investment; investment depends on projects; and projects depend on attracting investment. The prosperity of a local economy hinges on the intensity of its investment promotion efforts.

In the new era, the region is transforming its investment promotion philosophy, innovating its methods, introducing high-tech industries, and fostering emerging sectors—effectively “breaking with the old and establishing the new” in its investment promotion efforts.

For investment promotion professionals, working on Saturdays is a given, while Sundays are not guaranteed to be days off. High-intensity, round-the-clock work, non-stop reception schedules, and continuous training weeks have become the “new normal” on the front lines of investment promotion.

With the 20th National Congress approaching, investment promotion efforts across the country are “embracing the new landscape, seeking breakthroughs, and shaping a new future.”

Those who prioritize it will thrive

Decades ago, Shenzhen and Suzhou were renowned nationwide for their investment promotion efforts. Today, the former has become a first-tier city, while the latter has proclaimed itself the “strongest prefecture-level city.” This success stems from a “comprehensive” approach to investment promotion—clearly identifying what resources are available, what is needed, what to attract, and how to attract it.

The “comprehensive” approach to investment promotion emphasizes not only breadth and intensity but also speed and warmth, thereby achieving a harmonious integration of all these elements.

At investment promotion conferences in Beijing, Shanghai, and Guangzhou, the most proactive local governments are almost exclusively from southern regions, particularly those at all levels in Jiangsu and Zhejiang.

As local development has progressed, it has indeed been proven: without vigorous investment promotion, there can be no high-quality projects; and without high-quality projects taking root, high-quality development cannot be achieved.

Consequently, a clear pattern has emerged: the regions that place the highest priority on attracting investment are invariably the most economically developed.

Conversely, some regions engage in investment promotion year after year without any real progress, even holding superficial investment forums where they sign framework agreements on paper—the state of their economic development is self-evident.

With each new administration comes a new set of officials, and investment promotion efforts have failed to stick to a single, consistent blueprint. As long as local government leadership continues to change, the region cannot establish a dominant industry, leading to a haphazard and disjointed approach to industrial development.

As the 20th National Congress approaches, we must once again recognize the changing times and ensure that everything keeps pace with the times. Every era has its own products, and investment promotion models must evolve accordingly.

Those who adapt lead the way

From passive investment attraction to proactive outreach; from individual efforts to community-wide engagement; from broad-brush approaches to targeted strategies…

As the economy reaches a certain stage of development, refined investment promotion overturns traditional methods. It no longer relies on low-cost advantages as the main attraction for attracting investment, but instead shifts toward a more targeted approach.

Consequently, investment promotion targets have been delegated down the chain of command, with both soft and hard requirements imposed from top leaders down to the grassroots level of sub-districts, in order to mobilize a broader range of resources and advance regional investment promotion efforts.

Localities are now engaged in investment promotion by mapping out industrial chains, selecting target enterprises, assessing corporate investment needs, and establishing project databases. From following up on cooperation negotiations to providing corporate services, every step is urgent—and investment promotion strategies and models have evolved…

However, the investment attraction process can be likened to “thousands of soldiers crossing a single log bridge, or the Eight Immortals each displaying their unique powers.” It has long been no surprise that there are simply too many applicants for too few opportunities.

It is evident that throwing money at the problem, offering land, and competing on policy incentives are no longer the standard three-pronged approach to investment promotion. Instead, new thinking, new models, and new services have diversified the work of attracting investment.

Most regions have abolished “one-size-fits-all” preferential policies and are gradually shifting toward “differentiated” support, with many sectors treating domestic and foreign capital equally. The traditional mindset that “outsiders are better at the job” has given way to a trend of “domestic and foreign capital flying in tandem.”

In investment promotion, the focus is no longer solely on the origin of a project, but rather on whether the project itself aligns with local development goals and contributes to the upgrading of local industries.

At the same time, localities must play a central role in regional collaboration to achieve a “1+1 far greater than 2” effect, while also maintaining their own competitive advantages and pursuing differentiated development within their respective zones.

Whoever provides the best service wins the project

High-quality projects are often fiercely contested by several local governments. While competing on capability and strength is standard practice, providing exceptional service is the true key.

A business environment where officials smile all day and maintain an impeccable attitude but fail to solve problems is not the optimal one. Without this transformation, even if companies pay lip service to the system, their choices remain pragmatic—isn’t that the reality?

For businesses, down-to-earth services and support are what constitute “practical policies.” In fact, over the years, there has been no shortage of “paper-only services.” While they look good on the surface, they are either out of reach for businesses or involve cumbersome procedures, leaving companies with no choice but to shake their heads in frustration.

Put simply, understanding businesses is the key to winning them over. We must focus on “getting things done now” rather than saying “we’ll handle it later.” The true competition in attracting investment lies in which region respects entrepreneurs more and can attract them to settle there.

Take water as an example. Water in a reservoir can be drunk or used for other purposes, but it remains just water—no matter how it’s traded, it’s still priced as water. However, if an entrepreneur comes up with the idea of using water to generate electricity, the benefits created are far more significant.

An entrepreneur is someone who can turn water into electricity—someone who can aggregate and transform resources, generating greater energy. In short, the better the services provided to businesses, the higher the value created.

Therefore, the needs of enterprises should guide our direction. We must proactively identify gaps in the service chain and “lobby” to address them, rather than relying solely on market forces.

As long as the investment environment is favorable and services keep pace, high-quality projects and major enterprises will settle in, which in turn will drive more projects to take root, forming industrial clusters best suited to local development and propelling investment promotion efforts onto a path of reform that transforms quantitative growth into qualitative change.

The era of scattered, uncoordinated efforts is over; the clustering effect is taking hold.

The "land-sale GDP" model has hit the brakes.

Industry comes first; enterprises are the top priority.

We empathize with the challenges of the market.