'City partners' sign up to projects worth almost $10b in investment

A total of 68 investment projects worth 69 billion yuan ($9.94 billion) were signed between Siming district of Xiamen and businesses on Thursday during the 22nd China International Fair for Investment and Trade held in the coastal city of Fujian province.

Of these projects, one is at the provincial level and 67 are at the district level. Signatory parties cover the Fortune Global 500 and China's top 500, as well as State-owned and foreign-funded businesses. The projects focus on industries such as commerce and trade, cultural creativity, software and information technology, and finance.

Siming has designated businesses "city partners". The signings show companies' confidence in Siming's sound business environment, local officials said.

Lawson, a Japanese convenience store chain, signed the provincial-level project with Siming district. It plans to set up its regional headquarters in Xiamen to help expand its business layout in Fujian.

In June, Lawson opened eight stores in Xiamen, with four in Siming district.

"Over the past few months, Siming district has provided us with administrative support during our operation, helping to sort out preferential policies for our headquarters' construction and assigning experts to explain those for us," said Li Feng, head of Lawson's Xiamen office.

"It is efficient and attentive and builds a solid foundation for Lawson's follow-up development," Li said.

The "City partners" initiative represents an equal relationship between the local government and companies, and shows Siming's support and care for businesses, which boost businesses' confidence in having a sound development in the district, Li added.

Official statistics show that, in the first half of 2022, the district's wholesale and retail businesses above the designated size generated 538.73 billion yuan in sales, up 30.4 percent year-on-year.

During the signing event, a project designed to promote the cross-Straits general aviation development was a highlight. The project, funded by Feiyue Aviation, will serve as a platform that focuses on the cross-Straits exchanges, technical cooperation, innovation and products development in terms of general aviation.

Teaming up with Siming district, the project will offer comprehensive services including short-distance transportation, charter flights and sightseeing tours, in an effort to promote the integrated development of the cross-Straits general aviation businesses.

Another signed project is Yipoint, a high-tech company engaged in brand design. The company will set up a headquarters in Xiamen to serve the digital economy innovation industry.

"As our businesses expand, we go with the flow to build regional headquarters across the country. Siming is the most preferred option for us in South China," said Lai Jingxi, director of the investment and development department at Yipoint.

Siming is a district that has a sound basis in culture and history. It has leveraged advantages to support the industry of culture and tourism, which is in line with Yipoint's development plan, Lai said.

"We appreciated Siming's response to business affairs. The local government is reliable and we believe we can have a prosperous future by setting roots in such a district," Lai added.

The two-way trust between Siming and businesses is a good explanation of the district's improved business environment for industrial development, local officials said.

Siming will cooperate with more "city partners" to develop industries including commerce and trade, software IT, and culture and creativity into competitive ones, and thus take the lead in modern economic growth, they added.

Siming district signs deals with businesses during the 22nd China International Fair for Investment and Trade held in Xiamen, Fujian province, on Thursday. CHINA DAILY