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Recently, the Economic Daily has published a series of three articles on future industries. These articles caution against a rush to jump on the bandwagon; point out that industrial direction cannot be determined on a whim; and emphasize that coordinated upgrading cannot be achieved through isolated efforts. Currently, this series is still ongoing. In the context of investment promotion, this also presents some challenges. Now that these six directions have been included in the Government Work Report, it is difficult for local governments to remain indifferent to future industries. They must identify sectors, build industrial parks, establish funds, and attract projects. However, the areas that generate the most buzz may also be the ones most prone to overcrowding.
The simultaneous removal of five zones is an unprecedented move. The Ministry of Commerce announced the results of the comprehensive development assessment of 228 national-level economic and technological development zones across the country. In this “annual review report,” the most closely watched aspect is which zones were removed from the list. Five economic and technological development zones—Jiedong in Guangdong, Puyang in Henan, Hulunbuir in Inner Mongolia, Yingkou in Liaoning, and Daqing in Heilongjiang—have been “removed from the list.” According to a review of public reports, this marks the largest single-batch removal of zones since the establishment of national-level economic and technological development zones in 1984.
On July 30, the Politburo held a meeting to review the economy in the first half of the year and outline plans for the second half. Although the official communiqué was brief, it contained a wealth of information and attracted significant attention from the outside world. The meeting noted that China’s economy is showing a trend toward new growth drivers and a more optimized structure. Simply put, new drivers of economic growth have emerged. From the perspective of investment promotion, we have identified five key points worthy of attention and will analyze them one by one.
In the first half of the year, nearly 4,800 foreign-invested enterprises increased their investments in China. The number of newly established foreign-invested enterprises in China rose by 5.3%, with total foreign investment reaching 402.14 billion yuan. When it comes to attracting foreign investment, the key questions are: In which industries are these new foreign investments flowing? And for companies already established in China, where are they increasing capital and expanding production? With global investment slowing down, why are companies increasing their investments in China? What conditions must local governments meet to host foreign investment projects?
In recent years, an increasing number of high-end medical device companies have established their R&D headquarters and industrialization bases in Changping, Beijing. The Beijing Changping International Medical Device City—a park spanning more than 1.2 million square meters—is building a support system that covers the entire process from R&D, pilot production, and regulatory approval to manufacturing and market expansion, focusing on the key stages of commercializing medical device innovations.
The closed-door exchange session, themed “Evolution: Adapting with Resilience,” brought together investment promotion professionals from both within and outside the Yangtze River Delta, as well as companies currently seeking locations to establish operations. Participants discussed market changes and shared frontline experiences regarding industrial trends in the Yangtze River Delta, project matching, and practical investment promotion strategies.The event featured regional data and market-oriented investment promotion methods, as well as presentations from companies planning to expand their operations, real-world implementation case studies, and hands-on demonstrations of investment promotion web-based tools. Each segment had its own specific focus.
Counties are currently undergoing a round of decentralization. In July, Hunan Province released an implementation plan for “decentralizing authority to counties.” Thirteen provincial-level administrative licensing items have been delegated to economically strong counties, and it has been recommended that an additional 20 municipal-level authorities be concurrently delegated to the county level. Similarly, Sichuan, Guangdong, Henan, and Hubei have all taken similar steps in recent years. From the perspective of county-level investment promotion, this development warrants closer examination.
When investment promotion targets are assigned to state-owned enterprise platforms, the first thing that appears is a task list: how many companies to engage, how many leads to generate, and how many projects to advance. Once the goals are broken down, the team quickly gets into the swing of things. But for decision-makers, assigning targets to departments is only the first step in deploying the task. Investment promotion by state-owned enterprise platforms involves far more than just project matching. It requires determining the right industrial direction, understanding corporate needs, coordinating capital instruments, and identifying who will take over once a project is implemented.
Investment promotion conferences remain as bustling as ever. Figures on contract values, project counts, and project commencement rates were presented one after another. A review of investment promotion policies in the top 50 cities by GDP reveals a common trend. This year, only three cities—Zhengzhou, Nantong, and Quanzhou—have issued new policy documents specifically titled “Investment Promotion.” In addition, Shenzhen’s “Implementation Measures for Further Increasing the Attraction and Utilization of Foreign Investment” took effect this year. This article focuses on specialized investment promotion policies, innovative investment promotion plans, and the 15th Five-Year Plan outlines, incorporating all three types of documents into the analysis. A total of 63 policies were reviewed, while industrial directions were analyzed using the “15th Five-Year Plan” outlines of 50 cities.
Recently, the 2026 China Dental Valley Industry Development Conference was held as scheduled in Ziyang. This year marks the 10th anniversary of the establishment of Dental Valley, and there is a significant development worth noting. The park—which has already become the nation’s largest hub for the dental equipment and materials industry—announced the launch of its “second phase of development.” Ten years ago, 80 percent of China’s high-end dental equipment and materials relied on imports. Today, 434 “Made in Ziyang” dental products are exported to more than 100 countries and regions worldwide.
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.”
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