1. There’s no time to count the hours, no time to look back. In 2022, health codes, COVID tests, and travel passes became the “three essentials” for investment promotion trips. Burdened by performance metrics, we juggled itineraries and flight changes, scrambling for projects in the narrow gaps of our schedules. Investment promotion has always been a game of “casting a wide net but reaping little,” where everyone is tackling the toughest challenges.

2. How painful is investment promotion in county-level cities? The competition for resources is fierce, yet progress is slow. We can’t secure a spot when large enterprises choose their locations; it’s hard to land even a few small projects, and those we do manage to attract are often lured away by neighboring cities.

3. To each his own. In 2022, with the persistent reality of “too many cooks spoiling the broth,” localities are adopting management models suited to their actual needs and stages of development. Best practices show that selecting personnel through market-oriented mechanisms—where candidates compete on equal footing, the best are chosen, and the market is given free rein—actually yields better results.

4. Policies change overnight, leaving investors baffled. Performance evaluations grow stricter every year, while policies shift constantly. No sooner is Document X issued than another follows shortly after. When policy implementation is inadequate and flexibility is lacking, investors lose confidence.

5. Outdated industries exit, while advanced technologies rush in. In many regions, after undergoing “clearing the cage” and “changing the birds,” the mobility of enterprises directly reflects shifts in the regional industrial structure. Industrial relocation has led to a surge of “high-tech, high-precision, and cutting-edge” projects.

6. Out of ten projects, nine fail. Some technology innovation investment projects, adorned with the “high-tech” halo, have become the “prized targets” that regions compete to attract. However, “the higher you climb, the colder it gets”; high-tech projects—which require massive investment and have long cycles for commercializing technological achievements—often come with high risks.

7. Arriving in a shirt, leaving in a winter coat. Some projects require at least dozens of procedures from land acquisition to completion; company staff arrive in shirts and don’t finish the paperwork until they’re ready for winter coats. In the south, market-driven approaches can resolve project implementation, but in the north, the first questions are “Is anyone available?” and “Who knows whom?”—this is the gap.

8. Step back from investment promotion to strategize, then return to execute. In many regions, companies pursuing investment incentives focus solely on “filling their pockets” with subsidies and preferential treatments, only to choose the wrong location and gradually drift away from the market and their customers. Since each region has distinct industrial strengths, we must eliminate “cutthroat” competition in investment promotion and avoid evaluating projects by a “one-size-fits-all” standard.

9. Judge investment promotion success by results. Tracking the number of calls made, the number of companies contacted, or which ones expressed interest in visits—focusing on the process—is meaningless. The only outcome that matters is whether the deal is closed.

10. Treat all equally; unify the market. Local enterprises may start with a “silver spoon,” but when they venture into other territories, they too become “victims.” This “segregation” not only hinders corporate market expansion but also obstructs investment promotion efforts.

11. Rubbing Hands in Anticipation: Who’s the Investment Expert? Funds stall, financing is difficult, investment promotion yields little results, and even major projects fail to materialize as scheduled. This is not a matter of whimsical or reckless operation; when one’s capabilities are insufficient, one must exercise extreme caution. Furthermore, if one can successfully establish a unique “business” focused on improving the market environment, high-tech and cutting-edge projects will come knocking on their own.

12. Think twice before acting; think again, and you’ll be fine. Industrial planning often draws a circle that ignores actual carrying capacity. When robots are in vogue, everyone jumps on the robotics bandwagon; when cars are hot, everyone rushes into the automotive sector. Meanwhile, companies visit many places simultaneously, promising investment, only to drag their feet and let the matter fade into oblivion.

13. The more precise, the better. If we liken overseas investment promotion to doing business, then investment promoters are selling products—specifically, government services and the business environment. It is no exaggeration to say that quoting land prices down to the decimal point is a mark of professionalism.

14. Move fast and iterate quickly. Investment promotion follows a “power-law” distribution. Simply put, you might visit 100 projects without success, but the next one is the most likely to succeed. The key is to weave the stages of initial contact, follow-up, relationship maintenance, and project advancement into a cohesive network, ensuring every node is active.

15. High Barriers, Limited Land. We often hear: “It’s a great project, but unfortunately, there’s no land available.” In reality, in an era where every inch of land is precious, the standards for projects are rising, and land is waiting for the right project—it’s the quality project that matters. If a top-tier enterprise comes to invest, the story changes: “Case-by-case consideration” applies, and special approvals can be granted for anything.

16. Killing two birds with one stone—why not? Local governments are shifting from mere “facilitators” to “enablers,” revitalizing existing corporate resources and assisting companies with mergers and acquisitions to expand production scale, thereby achieving the goal of attracting investment.

17. Identify Patterns, Find Segments. During the investment promotion process, enterprises can segment potential clients based on industrial chain links, industry scale, region, and demand. By defining these segments, they can establish targeted investment strategies, prioritize key areas, and conduct categorized outreach. This approach builds momentum gradually, laying the groundwork for future efforts.

18. Adopt a holistic mindset and coordinate effectively. Some functional departments lack a “holistic” perspective; certain staff members may either be unfamiliar with investment promotion work or, due to unclear division of responsibilities, are reluctant to cooperate actively. Some promising projects may “fall through” due to minor service oversights.

19. Prioritizing Competition Over Strategic Planning. The practice of “snatching opportunities from the jaws of the tiger” has become a celebrated success story and work ethic in investment promotion. Against this backdrop, officials rush in at the first sign of opportunity and scramble for every project, welcoming any new entrant without distinction. This results in a chaotic industrial layout characterized by “large-scale, all-encompassing” projects, “medium-scale, all-encompassing” projects, and “small-scale, all-encompassing” projects.

20. The return of “mass-participation investment promotion.” The previous approach—which involved assigning quotas and departments working in isolation—led to superficial efforts that devolved into a routine of “visits, group photos, and documentation.” Today, “mass-participation investment promotion” refers to a scientific mechanism characterized by “shared goals across all levels and coordinated efforts across all departments.” It aims to mobilize the enthusiasm of all departmental staff and foster a culture of widespread participation.

21. Distinguish Between Genuine Implementation and Test-the-Waters Initiatives. Only by understanding the fundamental reasons behind a project’s arrival and whether the enterprise’s demands align with its motives can one determine whether the project has a genuine chance of being implemented or if the investor is merely testing the waters.

22. Policies are a catalyst, not a lifeline. While some companies focused solely on short-term gains may be particularly drawn to policies, those prioritizing long-term development place greater emphasis on finding a suitable niche within the industrial relocation process that aligns with their growth.

23. Avoid empty gestures; let things develop naturally. Without a detailed plan, it is difficult to win investors’ trust within a limited timeframe. From attracting to selecting businesses, one must understand the company’s production processes, conduct background checks on the project, review annual reports, and identify upstream and downstream suppliers. But that’s not all—one must also consider matters from the investor’s perspective and crunch the numbers for them.

24. Investing in people is priceless. When investment promotion officials engage directly with enterprises, policies and concepts are effectively implemented at the grassroots level, making it easier to bridge the “last mile” of policy implementation within companies. Development naturally gains clearer direction.

25. Policies are the “fur,” and industries are the “skin.” Without nourishment beneath the skin, the fur will eventually fall out. An industry’s growth potential is closely tied to the maturity of its industrial chain and the richness of its ecosystem.

26. For investment promotion events, 30% lies in the execution and 70% in the preparation. Local authorities should design the agenda based on corporate needs: for large-scale events, focus on key priorities; for small-scale ones, emphasize execution. One approach involves small roundtable discussions with a few participants; another involves creating memorable highlights, addressing corporate questions on the spot, and giving the investment environment greater “visibility.”

27. If you look for external factors, things stay the same for ten years; if you look for internal factors, every day brings something new. If you miss an opportunity for industrial relocation, apply to set up a branch in a first-tier city; if you lack knowledge, attend training to recharge… There is never a shortage of good ideas; what is lacking is the ability to solve problems and the drive for efficient action.

28. One side wants to “pick the low-hanging fruit,” while the other seeks to “skim the cream.” Investment promotion policies in certain regions still carry strong local protectionist overtones, prioritizing short-term statistical growth over long-term industrial development. With the establishment of a unified national market, such practices will gradually fade into history.

29. First, connect with the grassroots; then, win the people’s support. During the investment promotion process, address past commitments to resolve current issues. Entrepreneurs should not have to ask, guess, or worry—they can focus more on running their businesses. Who wouldn’t “prefer” such a government-business environment?

30. Enthusiasm must be there, but so must results. Investment promotion starts with top-level planning, driven by a sense of mission to “make it happen.” We must see it through, no matter the cost—implementing what needs to be implemented and advancing what can be advanced. When southern officials encounter new conflicts or problems, they “look ahead” and use innovative thinking to find solutions.

31. Seeing the trees reveals the forest. The “small giants” along the industrial chain may seem to be working for themselves, but in reality, they are working for the entire chain—when one suffers, all suffer; when one prospers, all prosper. If the industrial chain lacks resilience, a disruption at any key technological or production node will weaken the competitiveness of the entire chain, thereby affecting every enterprise along it.

32. The path that is hard to walk is never crowded. Take the first step, and take every step well.