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There’s a well-known adage in the investment promotion industry: good projects never wait. Projects can come knocking at any moment, but it takes a year or more to build a professional investment promotion team. This time lag has become a weak point for many counties’ investment promotion efforts. Qingyang County’s response was to stay one step ahead of the projects by first recruiting and training the right people. The “Running Ahead” Industrial Pioneer Training Camp, which recently concluded, was precisely this strategic first move. It featured 100 young officials, a 10-day intensive training program, and four rounds of selection, with county leaders evaluating the participants and entrepreneurs putting them through their paces.
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.
“Since the Lunar New Year, I’ve been leaving the office at 10 p.m. almost every day, and I’ve even been working from home during my vacation.” This statement by the head of the Debt Management Division in a city in southern China provides the real backdrop to a recent report in the *Economic Observer*. In the same article, he made an even more poignant remark. “If I had a choice, I definitely wouldn’t want to work in the Debt Management Division. It’s a thankless job that requires a lot of effort, and the pressure is immense.” While this may seem like a candid confession from a grassroots finance official, the more you read, the more you realize: This division chief, who “wouldn’t want to work” in the Debt Management Division, has seen the other side of local debt resolution.
Under the new regulations, the government is continuously adjusting its approach to investment promotion. It’s not that there are no projects available; rather, local governments are seeking high-quality projects—ones that are either large enough in scale, technologically advanced with growth potential, or carry labels such as “specialized, refined, distinctive, and innovative” enterprises, listed companies, or foreign-invested enterprises. An investment promotion official at a park in the north told us that a project developer came forward with several conditions. He followed the proper procedures to submit the proposal, organized discussions, and went back and forth several times—only to hear nothing further. It’s not that he didn’t want the project; rather, under the new regulations, he wasn’t immediately sure what measures he could take to secure it. Just as localities across the country were widely voicing their difficulties, two incidents occurred yesterday—
There have been some changes in investment promotion. On the front lines are master’s degree holders from the Chinese Academy of Sciences, PhDs from “Double First-Class” universities, and researchers returning from abroad. Armed with their academic backgrounds and industry insights, they engage in investment promotion, sit at the negotiating table, and approach corporate decision-makers. Behind this lies professional competence that has been steadily elevated. Highly Educated Talent on the Front Lines of Investment Promotion If we look at several cities, we can observe a common trend: the front lines of investment promotion are becoming increasingly “academic” and “scholarly.”
With less than two years remaining until the full “withdrawal from the platform,” some urban investment companies have fallen into the trap of “transforming for the sake of transformation.” While their approach may appear to comply with regulatory requirements, it actually lacks the ability to generate its own revenue. Once their official status is stripped away, the question of how to survive becomes an unavoidable challenge. The vast majority of urban investment companies ultimately point to “market-oriented investment promotion” as the answer. Yet this is precisely what urban investment companies have been least adept at over the past few decades. Urban Investment Companies’ Exit from Platform Roles: Transformation Must Not Be Short-Sighted The “exit from platform roles” for urban investment companies is not the end goal, but merely the first step toward accelerating reform.
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?
When it comes to investment promotion, finding projects is the most fundamental task—and also a daily headache. Some investment promoters worry that they have no projects at all and don’t know where to look. Others worry that while there are plenty of projects, few are a good fit; after sifting through them for ages, there are only a handful worth pursuing. At the core of both situations lies the same issue: the process of finding suitable projects isn’t efficient enough. Investment Promotion Network provides investment promotion professionals with a new tool—one that makes finding suitable projects faster and more accurate, while also ensuring that every connection gradually builds into a long-term network asset.
When it comes to attracting investment, old maps won’t lead to new paths. When it comes to project matching, old tactics won’t win new battles. The second stop of the “Evolving Investment Promotion Networks: Adapting with Resilience” tour has concluded in Chengdu. Those in attendance were all professionals who have been on the front lines across the country. Where do you find projects? How do you evaluate them once identified? How do you follow up after matching? Even before the closed-door session began, investment promotion professionals were already exchanging ideas. Here, they shared their challenges, spoke candidly, and banded together to find ways to break through the impasse. By evolving to overcome obstacles and embracing change with resilience, they uncovered opportunities for cooperation through pragmatic dialogue.
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.
Investment promotion in Southwest China has never been easy. As the Chengdu-Chongqing Economic Circle accelerates its development, regions across the area are competing fiercely for projects, enterprises, and industrial chains. On one hand, the “15th Five-Year Plan” is in its opening sprint; with tasks piling up, there is no room for delay. On the other hand, investment promotion channels are limited, and after making the rounds, few companies have been successfully contacted. In terms of investment promotion, project matching has reached a critical juncture of “evolution.” The 2026 Investment Promotion Network Closed-Door Exchange will make its second stop in Chengdu. On May 21, in a small-group setting with in-depth interaction, we will gather with investment promotion directors and park managers to discuss and share insights on the most challenging issues together.
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