Speech at Xiamen Investment Promotion Conference

　　By Mr. Hu Changsheng

　　Standing Committee Member of the CPC Fujian Provincial Committee, Party Secretary of the CPC Xiamen Municipal Committee

　　April 29, 2019

　　(Translation: Foreign Affairs Office of Xiamen Municipal People’s Government)

　　Friends from the business community,

　　Ladies and gentlemen,

　　Good morning! As an old Chinese saying goes, “Nothing, not even mountains or sea, can separate people with the same goals and vision.” Its’ a great pleasure to have all of you with us in this beautiful city of Xiamen, known as Egret Island, in this vibrant season. On behalf of the CPC Xiamen Municipal Committee, Xiamen Municipal People’s Congress, Xiamen Municipal Government and the CPPCC Xiamen Municipal Committee, I’d like to welcome all of you to this conference.

　　On September 3, 2017 during his visit here, Chinese President Xi Jinping highly acclaimed Xiamen as “a high-performance economy of innovation and entrepreneurship and a beautiful garden city of sound ecological conservation.”“The brave, unyielding and hard-working people of Xiamen, riding on the tide of reform and opening-up, have built the city into a modern, global metropolis that features robust economic growth, high living standards and extensive international exchanges.” In keeping with President Xi’s compliments and instructions on building Xiamen into a modern, international city of high-quality development and beautiful landscape, we are hosting this conference today to pool the strengths of all sectors to promote investment and development so as to fulfill President Xi’s blueprint for Xiamen.

　　Entrepreneurs like you are the main driving force for the city’s economy. Your dedication and hard work are indispensable for the development of Xiamen Special Economic Zone (hereinafter as Xiamen SEZ) which in return facilitates corporate growth. I’d like to, on behalf of Xiamen people, express respect and appreciation to representatives of the business community present today, industrious entrepreneurs working here as well as domestic and foreign entrepreneurs interested in investing and starting up business in Xiamen.

　　Today I wish to take this opportunity to share ideas with you from the following five aspects.

　　I. Entrusted with important tasks, Xiamen SEZ faces urgent need to promote investment and boost development.

　　Playing a strategic role in the province and country’s development, Xiamen SEZ is assigned with the important task of catching up with advanced economies. In this context, only by promoting investment and development, can we stimulate new economic drivers, speed up our development and shape new growth visions.

　　The 40 years’ history of Xiamen SEZ proves that investment promotion boosts development. Since reform and opening-up, Xiamen SEZ has realized historic transformation. One important reason is that the unswerving efforts in promoting investment and development have significantly stimulated sustained increase of economic strength and institutional reform and open-up. There are many cases worth mentioning. For example, in order to facilitate the Dell project landing in Xiamen in the 1990s, the government set up a special leadership team headed by the then Mayor. By developing a customs clearance system particularly for Dell, launching exclusive logistics flight routes to Japan and coordinating dedicated power grid for production, Xiamen Torch High-tech Zone (HTZ) emerged as the final choice of location for Dell among the 51 HTZs nationwide. When Mr. Michael Dell, the founder and CEO of Dell Technologies, was in Xiamen for discussions on expanding investment, he said that what’s special about Xiamen is that the government honors its words. Dell is currently a leading manufacturer in Xiamen with an output value of RMB 59.5 billion Yuan. Another example is the Software Park. Against the backdrop of surging software and information industry worldwide, Xiamen has been committed to building a garden-like software industrial park similar to Silicon Valley since 2005. Provided with a low-cost environment, a tailored-made talent pool, high-level public services and various capital supports, the software and information industry has emerged and risen rapidly. Currently the Software Park has nearly 4500 companies with operating revenue exceeding RMB 100 billion Yuan and its indicators of sustained growth register No.1 nationwide for two straight years. I’d like to mention one more case. In October 2014, Taiwan UMC, a top 3 global IC producer, signed contract with Xiamen on setting up the USC project. It took only 5 months to start construction and 1.5 years to start operation. The fast pace has set a record for a 12 inch wafer foundry going into operation. This project puts Xiamen on the national top 5 of the IC industry.

　　Experiences of developed economies indicate that investment promotion is a successful way to achieve rapid growth. Investment promotion is the key contributor to the increment of an economy. Quality increment means a successful future. When observing domestic and foreign cities with strong growth momentum, we learn that all of them spare no effort in promoting investment. Take Singapore as an example. The country established Economic Development Board shortly after its founding, which has helped to transform Singapore into a modern and advanced global economic hub from a poor and underdeveloped island. In Singapore locate 7000 multinational enterprises and institutions and 4000 plus regional headquarters, with the figure ranking 1st among all Asian-Pacific economies. I was told a case during a study trip in Singapore. When the president of Phillips transit in Singapore for an overnight maintenance for his jet during a business trip in Asia, Singaporean officials provided thoughtful arrangements and seized the opportunity to brief him on the investment climate. Afterwards, Phillips set up a plant and a regional headquarter in Singapore. Shenzhen has been proactive in attracting quality investment and introducing innovation resources and high-end projects throughout its history. It has facilitated Shenzhen’s development into an international scientific and technological innovation center with world-renowned miraculous achievement. While its GDP was only 0.56% of that of Hong Kong in 1979, Shenzhen, with a GDP of RMB 2.42 trillion Yuan in 2018, surpassed Hong Kong by RMB 22.1 billion Yuan.

　　Investment promotion is the strategic choice for Xiamen to win the future. In the face of international changes unseen in a century, with shifting global economic landscape and increasing competition among cities, Xiamen has encountered great development opportunities and serious challenges at the same time. The increasingly sophisticated international division of labor offers a significant opportunity for Xiamen to leverage its comparative advantages, introduce international capital and technologies and move up in global industrial and value chains. Xiamen’s trade to GDP ratio is 125%. The mounting trade protectionism urges us to boost investment in real economy and introduce innovation resources. It’s also necessary to accelerate industrial transformation and upgrading, stimulate internal growth engines and strengthen international competitiveness. Domestic economic downward pressure and increasing regional competition require us to keep up with the trend of industrial clustering. To stand out in the fierce competition, we need to improve quality increment and increase economic aggregate.

　　II. Xiamen is a promising land for investment, entrepreneurship and corporate development.

　　Xiamen has been a prosperous trading port since ancient times. In the new era, it is also an arena for innovation, creation and entrepreneurship, where there are plenty of business opportunities and potentials.

　　Xiamen is at the forefront of reform and opening-up. It is Xiamen SEZ’s mission and priority to implement reform and opening-up. With multiple policy supports as the Special Economic Zone, Pilot Free Trade Zone (hereinafter as Xiamen PFTZ), National Demonstration Zone for Indigenous Innovation, Core Area of the 21st Century Maritime Silk Road and National Pilot Area for Comprehensive Reforms, Xiamen is one of the places with most intensive, pioneering and effective reform policies. By now, we have 219 corporate headquarters, 3 indigenous Fortune Global 500 enterprises, and 322 projects invested by 119 Fortune Global 500 companies. China International Fair for Investment and Trade is the world’s largest two-way investment promotion event with 20 editions successfully held in Xiamen. Xiamen is the highland of open-up. To align with international trade rules and practices, Xiamen PFTZ has adopted 380 new measures to spur market vitality, 22 of which are promoted nationwide. Over the past 4 years, more than 40,000 enterprises have been newly established with a total registered capital of around RMB 600 billion Yuan. Xiamen is the cradle for innovation. As the National Demonstration Zone for Indigenous Innovation, Xiamen has cumulatively launched 89 new measures to energize innovation. We have optimized financial services and R&D support to technological enterprises. R&D institutions have been set up in cooperation with first-class universities, Chinese Academy of Sciences and other research institutions. Nearly 1000 teams of innovative talents and professionals have been introduced. Last year, the ratio of R&D input to GDP registered the 4th spot among all vice-provincial cities. 42.8% of the province’s high and new tech companies located in Xiamen. Nearly 70% of industrial added value of enterprises with main operating revenue of above RMB 20 million Yuan comes from high and new tech companies. Xiamen is the strategic fulcrum city for the Belt and Road Initiative. With land, sea and air routes connecting to all parts of the world, Xiamen is the only transport hub linking Maritime Silk Road with on-land Silk Road. As one of China’s four International Shipping Centers, Xiamen Port operates 92 international container routes and its annual container throughput exceeds 10 million TEUs, making it the 14th largest worldwide. China-Europe (Xiamen) Freight Train Express leads to 12 countries including Russia and Germany. Xiamen airport runs 35 international flight routes which connect to Europe, America and Australia. Its annual passenger throughput ranks 8th nationwide. After the completion of Xiang’an new airport facilities, the figure is expected to reach 85 million. Xiamen is the first choice for Taiwan businesses to enter the mainland market. We endeavor to develop the city into the Demonstration Zone for Cross-Strait Cooperation on Emerging and Modern Service Industries, Cross-Strait Financial Center, Southeast China Shipping Center and Mainland-Taiwan Trade Center. More pioneering measures and policies will be adopted to accelerate cross-Strait integrated development. We have taken the lead in providing the same services to Taiwan fellows and businesses as to citizens and enterprises on the mainland. In this sense, Xiamen has become the first choice for Taiwan compatriots and companies to start up business on the mainland as it boasts close cross-strait economic ties, frequent cultural interactions, convenient direct transport and a welcoming attitude towards people from Taiwan.

　　Xiamen is a hub for modern industries. Six state-level industrial bases have been established covering optoelectronics, software, biomedical science, electrical power and controls, tungsten materials and audio-visual communications. We are making strong moves to build twelve hundred-billion-Yuan industrial chains/clusters. Eight industrial chains--flat panel display(FPD); computers & communications devices; machinery & equipment; meetings, incentives, conferences & exhibitions(MICE); modern logistics; software & information services; financial services; and the cultural and creative industries--have each achieved an output or revenue of over RMB 100 billion Yuan. The other four industrial chains--modern urban agriculture, and such strategic emerging industries as semiconductor & integrated circuit (IC), bio-medicine & health care, and new materials--have maintained a double-digit growth rate. High-end manufacturing and modern services have increasingly complete industrial chains with related upstream and downstream companies well in place. The Guanyinshan-Wuyuanwan Headquarters-Economy Belt enjoys sound development momentum. The industrial clustering effect becomes all the more prominent. It is hopeful that Xiamen will hit the mark of trillion-Yuan-output of the above-mentioned industrial clusters within the next 3 to 5 years.

　　Xiamen is a forerunner in the development of business environment. A favorable business environment provides fertile soil for enterprises to grow and prosper. Since 2015, Xiamen has taken the lead to build a world-class business environment in keeping with the World Bank Group’s Ease of Doing Business Index, working itself to be on a par with such world-leading economy as Singapore. We have carried out major reforms in a spectrum of sectors and created a wealth of experience which has been promoted nationwide. For instance, we pioneered the reform of project examination and approval system by adopting “multi-plan integration”. By collectively handling all related procedures in a single window, a big chunk of time has been saved, creating the “Xiamen Model” for the reform of the examination and approval mechanism of construction projects. We spearheaded the “Single Window” System for international trade. We have cut back a larger chunk of time required for clearance than the other 9 customs supervision zones; and our government-imposed fees have been slashed to the lowest among all the ports on the Chinese mainland. As such, we have been rated the Best Practice among all Free Trades Zones in China. We have also channeled great efforts to reform the business registration system. Municipal-level enterprises can be registered on spot. Currently, 97% of the items which require examination and approval can be handled online. All in all, Xiamen came out second in China’s first Ease of Doing Business ranking as released by our National Development and Reform Commission last August. And Xiamen was ranked first among all the vice-provincial cities in China in terms of business environment according to a research report published this year by PricewaterhouseCoopers (PWC) and China Development Research Foundation (CDRF).

　　Xiamen is a livable, harmonious and business-friendly city. An ancient Chinese proverb goes, “One shall choose a good place to reside in, and befriend men of virtue when s/he is away from home.” Xiamen is the place which you will readily call home once you come here: Xiamen is a melting pot of oriental and western cultures. Here you can find Gulangyu--the world-renowned culture heritage site, Nanyin--the reputed “living fossil” of music, the South Fujian culture, the marine culture, the overseas Chinese culture and the western culture, which inject immense appeal into this multi-cultural city. Xiamen is an eco-city where man and nature live in perfect harmony. With balmy climate, picturesque scenery, and beautiful environment, this is the place where you can enjoy azure ocean, golden beaches, refreshing air and pleasant sunshine. Hundreds of TV series or movies choose Xiamen as their filming location. Currently, there are eight TV series filming in Xiamen.  Xiamen International Marathon ranks 8th in the world and 1st in the country in terms of the popularity. Xiamen has won the “UN Habitat Scroll of Honor Award” and the “LivCom Award”. It has always been one of the most popular tourist destinations in China. Last year, Xiamen received 89 million tourists from home and abroad. And Xiamen was ranked No.1 among all cities in China in terms of ecological progress as per a report released by the Chinese Academy of Engineering. Xiamen is a happy and caring community. This is a city imbued with love. Our citizens are open-minded, hospitable, trust-worthy, courteous, and with a strong sense of belonging and confidence to our community, thanks to which we have been the top scorer in China’s Cities of Excellence of Civil Ethics evaluation for 5 consecutive terms. Xiamen is at the forefront of Fujian Province in regard to the provision of high-quality and equally-accessible compulsory education. In recent years, Xiamen examinees took up almost half of the top 100 performers at National College Entrance Examination in Fujian. Xiamen is home to a number of high-caliber medical institutions, such as Xiamen Branch of the Zhongshan Hospital affiliated to Fudan University. The average lifespan of our citizens is 80.6 years. Xiamen pledges to introduce more national or even global top medical care institutions in the future. Thanks to our continued efforts in building Xiamen into a city with the strongest sense of security among our citizens, we have won the “Chang’an (literal meaning: enduring peace) Cup”, the highest accolade in China’s integrated security management appraisal. Last year, the criminal offence rate was at the lowest in the past decade. The percentage of sense of security among our citizens is as high as 98.9%.

　　Xiamen is a promising land for entrepreneurs. A city prospers when enterprises flourish. Xiamen has produced a galaxy of eminent entrepreneurs, including Mr. Tan Kah Kee who is known as “the Flag of Overseas Chinese and the Glory of the Nation”, Mr. Wu Rongnan who is rated as “a prominent figure with outstanding contribution to China’s reform and opening up”, and Ms. Liu Weican who is the “First Woman” introducing foreign capital to Xiamen. Throughout the past four decades’ reform and opening up, our entrepreneurs have forged ahead with enterprising spirit and undaunted determination, and made untiring, unremitting and painstaking efforts. It is their intelligence and perspiration that have propelled the development of Xiamen SEZ. Our entrepreneurs have not only created abundant material wealth, but also cultivated the business ethos of “Love the country and the hometown, be enterprising, innovative, and trustworthy”, which is a powerful source of strength that drives Xiamen’s continued development.

　　III. Thoughtful, targeted, and meticulous steps have been taken to improve the quality and performance of investment.

　　An enterprise can only prosper when the entrepreneurs dedicate themselves and the government delivers thoughtful, customized, and meticulous services. By being “thoughtful”, we mean to roll out well-thought-out investment projects, follow closely the enterprises’ investment intention, and address the investors’ concerns. By being “targeted”, we mean to target at key enterprises and projects, identify the right way for collaboration and communication, and formulate customized investment policies and facilitation measures. By being “meticulous”, we mean to provide attentive and meticulous services throughout the whole process, and do our level best to offer considerate and efficient services for every investor. Investment promotion is an effective means to dovetail a city’s need for development with an enterprise’s urge for growth. Prior to the Conference, we have launched a website, an industrial road-map and a hotline dedicated to investment promotion, with the aim of ensuring whole-chain, all-life-cycle, and around-the-clock services for enterprises.

　　First, we have a clear priority for investment promotion. With a commitment to building a modern economic system, we will focus on boosting the development of high-end manufacturing and modern services, redouble our efforts to attract and land targeted key investment projects, work to shore up the industrial chains and establish industrial clusters, and move faster to cultivate new economic drivers: We will prioritize key projects and conglomerates. While welcoming more SMEs to locate in Xiamen, we will also make big push to introduce mega-corporations. We will place the initiatives to attract key and mega projects at the core of our efforts in growing industrial chains and promoting investment, and take targeted steps to organize thematic investment promotion activities for the entrepreneurs to participate at. We will keep a close eye on Fortune Global 500 companies, SOEs, leading private enterprises and industry leaders. And we will take the initiative to visit companies to talk with entrepreneurs. We will focus on high-end and advanced industries. “All that glitters in not gold”. We will be selective in attracting investment and prioritize technology-intensive, high-value-added, and promising high-end projects with a special emphasis on such advanced manufacturing industries as digital information, high-end equipment, bio-medicine & IC, and such modern service industries as modern logistics, trade in services, high-end tourism, MICE, featured culture programs, and emerging films and televisions. We will pay high attention to professional, cutting-edge, distinctive and emerging enterprises, and channel great efforts to introduce such innovative enterprises as “hidden champions”, “little giants in science and technology”, “gazelles” and “unicorns”, consistently expanding the clusters of high-tech and high-growth enterprises. We will shore up and step up the industrial chains. In accordance with the principle of bringing in the missing part and making up for the shortfall, we will do much to introduce key links in our industrial chains as well as related upstream and downstream enterprises, so as to promote an integrated industrial and urban development and form a complete and competitive industrial layout with all necessary factors of production in place:

　　FPD. We will give prominence to such new-typed electronic components as original display screens, photoelectric devices and display driver chips, and such core materials and key components as glass substrates and optical filters. Computer and Communications Devices. Major steps will be taken to introduce high-performance computers and servers, core components of 5G and other next-generation network technologies, and such mid-to-high end smart devices as satellite communications, navigation, robotics, and UAVs. Semiconductor and IC. Priority will be given to the introduction of enterprises engaged in the design, production, packaging and testing of core chips, key components, basic electronic materials, and high-end LED manufacturing. As such, our industrial clusters will become all the more high-end and professional. New Materials. We will channel great efforts to introduce special metals, advanced macromolecule, as well as energy-efficient and new-energy automobile materials. We will endeavor to make breakthroughs in silicon carbides, graphene and other core technologies, and scale up the industry. Bio-pharmaceutics and Health. Major steps will be taken to bring in biological products, medical apparatus and instruments, biotechnology services and professional technological services. Software and Information Services. Priority will be given to the introduction of such services and application projects as big data, cloud computing, industrial internet, internet of things, artificial intelligence, website security and mobile internet innovation. Financial Services. We will work hard to introduce headquarters and regional branches of traditional banking, securities and insurance institutions with a legal person status, and encourage major financial institutions and technological innovation-oriented companies to set up R&D centers in Xiamen and to conduct financial innovation by using such cutting-edge technologies as big data, cloud computing, and block-chains. We will also devote attention to the missing links in other industries, act faster to shore up and step up the industrial chains, so as to make the industrial chains more full-fledged and well-equipped. We will give prominence to headquarters economy. We welcome mega enterprises with the capacity of allocating resources across countries and regions to establish their headquarters, investment centers, R&D centers and financial centers in Xiamen. We will strongly promote industrial integration across the Taiwan Strait. We will do our utmost to enhance connectivity across the Strait, redouble our efforts to ensure smooth economy and trade cooperation, and seek greater complementarity with Taiwan in such competitive industries as IC, cross-border e-commerce, medical and elderly care, financial services, cultural and creative business, and modern agriculture. By leveraging the Taiwan-oriented hacker-space, we will work to attract talents from Taiwan, move faster to build a demonstration zone for integrated industrial development across the Strait, making Xiamen the “very first stop” for Taiwanese enterprises when they enter the mainland market.  

　　Second, our approaches to investment promotion are being improved. We attract investment with the help of entrepreneurs. Entrepreneurs are the keenest observers of changes in market and investment opportunities. They know best of their partners and associated enterprises. They are most eligible to have a say on the city's investment climate. Therefore, entrepreneurs are a most important driving force for investment. We will see that enterprises are major actors, and by giving full play to the strong industrial complementarities among enterprises of the same kind, make up the shortfalls in and extend the industrial chains. We sincerely hope that the entrepreneurs present here can introduce more related enterprises with good credit, developmental potentials and investment intention to Xiamen. We will reward those that have made outstanding contributions in this regard. Meanwhile, we will vigorously support competent enterprises to beef up investment to expand capacity, advance efficiency and extend the industrial chains. We will increase subsidies and rewards to support technological projects oriented toward industrial transformation and upgrading. We attract investment through capital. Xiamen is currently home to 361 private equity fund firms, with 817 funds under management and an actually registered fund scale of RMB 133 billion Yuan. In recent years, Xiamen has successfully introduced many high-quality enterprises through industrial funds. We will continue to bring in well-known industrial investment funds from home and abroad to attract more quality industrial projects to Xiamen. To promote targeted and practical policy-making, the CPC Xiamen Municipal Committee and the Xiamen Government will solicit your opinions when we are formulating policies for key industrial development and the private sector. We attract investment through intermediaries. We are actively strengthening the cooperation with industrial associations, consulting firms and other well-known intermediaries so as to broaden the information sources and identify investment intention. With the assistance from these professional institutions, our investment promotion will become more effective. We will revise and improve the incentive measures to encourage intermediaries and projects to introduce talents and fully mobilize the whole society to promote investment. We attract investment through emotional bonds. Xiamen has millions of university alumni and overseas Chinese all over the world, which is also a major driving force for investment. The kinship ties and hometown bonds help mobilize friends, fellow countrymen and alumni to network for investment. At the same time, it will create opportunities for them to contribute to their homeland.

　　Third, our mechanism for investment promotion is improving. We are committed to establishing an investment promotion mechanism of “government departments + intermediaries +industrial parks + funds”. It will be an investment promotion mechanism of rapid response, scientific evaluation and efficient decision-making. We will improve the hierarchical coordination and agile synergy for major investment projects. The Municipal Leading Group for Investment Attraction headed by the Mayor and me has been set up as a platform to coordinate the leadership, consultation and supervision of the major decisions, projects and issues concerning investment attraction citywide. We will establish an efficient decision-making mechanism where powers and liabilities are consistent and decision-making authority in terms of investment policies, land usage and other supporting facilities delegated to each district, each new town headquarter and each investment promotion taskforce; a well-fledged service mechanism whereby government officials are held accountable towards corporate development and key construction projects; an overall coordination mechanism to strengthen the coordination by the principles of hierarchical accountability and management; a consultation and evaluation mechanism to improve the consultation and risk evaluation system for major projects; a sharing system to achieve the information sharing and cooperation between the municipal and district levels as well as among various departments; and a reward and punishment scheme to motivate people. We will improve the implementation of the construction of major investment projects. Heads of departments will be held accountable for the swift progress of projects, including delegating tasks to individuals, scheduling the construction and arranging working procedures. We will deepen the reform of “multi-plan integration” by streamlining the approval items and procedures. We will optimize the bidding mechanism, pushing owners, designers and supervisors to complete projects with quality and efficiency.

　　Fourth, our investment platform is expanding. As instructed by President Xi Jinping, we pledge to accelerate balanced development on and off Xiamen Island by promoting the upgrading of Xiamen Island and the progress of the four districts on the mainland. Firstly, we will create a development platform in the key areas. The construction of key areas will be managed through a flat organizational structure to empower the project headquarters with stronger decision-making capability. The overarching leadership of the headquarters regarding planning, project construction, investment attraction, land expropriation and relocation will be strengthened. The supporting facilities and services will be continuously enhanced accordingly. We will accelerate the development of Xiamen PFTZ, headquarter clustering zones, Tongxiang High-tech Industrial Zone and Cross-Strait Regional Financial Center. Xiamen PFTZ focuses on the development of aviation services, international trade, shipping logistics, cross-border e-commerce, financial services, trade in culture and services, and IC design; The headquarter clustering zones, such as Guanyinshan CBD, Wuyuanwan CBD and Xinglin Bay CBD, host headquarters, regional headquarters and functional headquarters of large enterprises at home and abroad; The Tongxiang High-tech Industrial Zone puts priority on the development of FPD, computer & communication equipment, machinery, semiconductor & IC, new materials, new energy, energy conservation and environmental protection industries; The Cross-Strait Regional Financial Center features office buildings for financial sector, headquarters, commercial buildings and supporting services. We plan to build an airport-related industrial zone near the new airport to develop the aviation high-tech industry, modern service industry and airport-related core industry. We will vigorously promote development of the Maluan Bay New Town, Eastern Coastal Area New Town, Jimei New Town and Eastern Sports and Convention New Town. Maluan Bay New Town focuses on bio-medicine, health care, intelligent technology, tourism and high-end business; Eastern Coastal Area New Town consisting of Meifeng and Bingzhou modern service areas, highlights modern service industry, advanced manufacturing industry, MICE, culture and sports; Jimei New Town where the Software Park Phase III and the clustering zone for machinery are located, centers on software & IT, culture & tourism, headquarters, machinery & equipment, and trade & logistics; Eastern Sports and Convention New Town focuses on culture, sports, MICE, coastal leisure tourism, cultural creativity, cross-border e-commerce, and headquarter economy. Secondly, we will expand industrial parks. We will divide our land into service industry area, production area, cultural tourism area or ecological tourism area to identify the function of each piece of land, improve infrastructure and supporting facilities accordingly. So the enterprises settled down in each area will be provided with convenient and customized one-stop services. We will strengthen the protection, utilization and mobilization of the industrial-use land to make room for new investment. The existing office buildings in the Guanyinshan CBD, Cross-Strait Regional Financial Center and Lujiang Avenue will be fully tapped to provide offices for headquarters and emerging sectors. Thirdly, we will establish a collaborative platform of southwestern Fujian Province. The CPC Fujian Provincial Committee and Fujian Provincial People’s Government have decided to, with Xiamen as a leading city, build a collaborative development platform among Xiamen, Zhangzhou, Quanzhou, Longyan and Sanming. We will take the initiative, in close cooperation with the other four cities, to establish an industrial cooperation zone with each of the other four cities so as to boost cross-city collaborative investment promotion and industrial chains extension. These cross-city industrial parks will, in a market-based manner, explore innovative approaches to mutually-beneficial construction and development, and expand the ground for Xiamen’s industrial development. Fourthly, we will improve our investment promotion platform. Tapping major investment promotion fairs at home and abroad as well as key expos and summits held in Xiamen such as China International Fair for Investment and Trade, Straits Forum, Strait Travel Fair, Industrial Fair, Cultural Industrial Fair, Stone Fair, the Investment Summit for Overseas Chinese Merchants and Cross-strait Entrepreneurs Summit, we will organize well-targeted campaigns to facilitate exchanges and cooperation in investment, trade and industry. "Internet +" technology will provide timely and precisely information release about business environment, industrial planning, investment preferential policies to attract domestic and overseas investment.

　　IV. All-rounded facilitation will be put in place to nurture an enabling environment for project development.

　　We have prioritized facilitation at all fronts for investment promotion so as to achieve a fast landing and operation.

　　First, institutional arrangements will be enhanced to stimulate innovation. Drawn from the global advanced experiences, we have been forging a pro-innovation ecosystem where all facilitative factors work with each other and attracting or cultivating more innovative enterprises. We will continue to benchmark with international and domestic forerunners and take targeted measures in order to elevate our equivalent global ranking for the ease of doing business to the 20th place among all economies according to the World Bank’s criteria. Administrative services will be enhanced. After administrative streamlining, it will take only three days to start a new company while the project approval procedures and time will be further reduced. Professional one-stop service centers will be set up in all industrial parks to provide all-rounded services. An increasing number of approval items can be processed online while efficiency of examination and approval will be enhanced. More innovative institutions will be established. We will actively bring in quality education resources. In three to five years, ten top-notch higher education institutions from home and abroad will set up their applied science research institutes in Xiamen either independently or in cooperation with their local counterparts. We encourage Xiamen University and other local schools to conduct market-oriented R&D tailored to the needs of our high-end industrial development. The existing science and technology institutes will play a bigger role in promoting investment and corporate innovation while top colleges will set up more technology transfer centers and incubators here. By 2020, over 20 R&D institutions, 40 crowd innovation centers and 100 innovation service platforms will be established. Financial services will be strengthened. We will establish task forces and 24/7 teams to provide better financial services. Xiamen has recently taken the lead to remove corporate banking account permit requirement. Communication and collaboration between banks, government and enterprises will be improved through the establishment of a dedicated section for financial services on the government-bank-corporation networking platform where specific needs of each enterprise will be addressed timely. Innovation in financial services is encouraged with an aim to cut financing costs for enterprises, especially for the SMEs. Efforts will be put to bridge investment funds, such as industrial funds and venture capital, with investment promotion projects. In three years, the capital of investment funds registered in Xiamen will exceed RMB 200 billion Yuan.

　　Second, well-being of talents will be enhanced. We will provide better housing schemes, education, social security, careers and awards for talents so that they can run businesses and live comfortably in Xiamen. Strides will be taken in talent attraction. We strive to introduce and cultivate additional 500 high caliber talents, 5000 professionals through alternative ways, such as project cooperation, offshore entrepreneurship programs and high-end part-time employment, and over 50,000 college graduates to Xiamen each year. At the same time, we will bring in reputable HR agencies to recruit high-end talents for enterprises and provide headhunter subsidies for employers to expand their search for high-level talents. Logistics support will be strengthened for talents. We will provide public rental housing units at 70% of market rate for talents with an undergraduate degree or above or with much-needed skills if when choose to work in Xiamen. Newly introduced high-level talents can receive RMB 1.2 to 10 million Yuan in housing subsidies or 100-to-200 m2 subsidized apartments. For enterprises with remarkable contributions, we will allocate or construct subsidized apartments or provide public rental housing units accordingly. For advanced manufacturing businesses, we will construct sizeable apartments for workers. Children of the principal employees from core enterprises will be provided with more access to education. Fast access to medical care services will be offered as well. Efforts will be put to facilitate talent training. Higher education institutions will provide related courses and diplomas according to the needs of industrial development. Customized subsidy schemes will be formulated for key enterprises to develop training programs. To reform the evaluation mechanism towards R&D projects, talent and business performance, a comprehensive evaluation system based on innovation, performance and contributions made by talent will be set up. Entrepreneurs will also have opportunities to attend high-end training programs at home and abroad.

　　Third, land resources will be mobilized. Xiamen now has 188 km2 of land for future industrial development. The coordination of urban planning will be stepped up. Xiamen Municipal Urban Planning Commission will improve the industrial layout and land use efficiency through a holistic approach while Xiamen Municipal Commission of Land Resources will accelerate the approval process for industrial use land for major investment projects. Based on the experiences of Shenzhen, Guangzhou and other advanced cities, we will increase the cost of land retention for businesses with low efficiency in land use, utilize the land and factory buildings that have long been vacant, and sort out land approval and provision. Residential communities will be set up around industrial clusters. Tailored to the needs of enterprises and employees, we will accelerate the provision of service platforms, utilities and amenities in the industrial parks. We can contract the construction of factory buildings according to the demands of enterprises. In the process of new town construction, advanced planning concepts will be incorporated to realize synergy between industry and life. Advanced industrial parks will be accompanied with orderly planned layouts, well-rounded services and well-managed communities. A sound balance between urban life and modern industrial development, industrial types, and natural ecology will be maintained, which will make our city more appealing, beautiful and livable.

　　V. Greater synergy will be garnered as we do our utmost with full sincerity and competence to promote investment and development. 

　　Investment promotion, as an all-inclusive endeavor, entails continuous cooperation and contributions from all walks of life.

　　We will promote sincere relations with businesses. We will keep an enterprising spirit in digging the potentials of investment promotion. To maintain an open-minded perspective, we should closely follow the world economic trends, the state policies and the industrial development trajectory. In this match, government officials should be able to score as well as assist. They should establish an amiable and clean relationship with enterprises, especially with the private sector, as they facilitate businesses. As long as they have a steadfast standpoint, a clear mind and self-disciplined conducts, government officials are encouraged to make friends with entrepreneurs. Their all-rounded services will help demonstrate Xiamen’s friendly, supportive, worry-free and enabling environment for business.

　　We will improve our professional competence and strive to be the best. We should follow up the latest information of science and technology, industrial development and new business models to promote in-depth and effective communication with enterprises. We will lean in and put ourselves in the shoes of enterprises so as to better identify and resolve problems. High caliber talents both within and outside the government will be recruited to do investment promotion.

　　We will do our utmost to shoulder responsibilities and aim for higher goals. Heads of competent authorities shall rise to the occasion and personally participate in consultation, facilitation and implementation of major investment projects. Meanwhile, the sub-district and community administrations shall ensure sound social governance and public services to enable corporate development. Perseverance is the key to success. The government officials should unswervingly go all out in solving problems for enterprises.

　　A Chinese adage reads, “Victory is ensured when people pool their strength; success is secured when people put their heads together.”  We sincerely hope that chambers of commerce/business associations can help invite member companies to visit or invest in Xiamen while overseas Chinese can help with matchmaking. In order to attract high-end projects and talents, we will recruit prestigious entrepreneurs and experienced investment promoters to be our investment advisers. Investment promotion and socioeconomic development are the foundation for our people’s well-being. We will mobilize our people to create a better environment for investment and benefit our people with the development outcomes.

　　Cooperation with the excelsior leads to success. Ladies and gentlemen, Xiamen has rolled out a beautiful blueprint featuring a robust economy and a beautiful environment. We look forward to the input from all of you. We shall create and witness the new progress of Xiamen together.

　　To conclude, I would like to revisit the comment by Mr. Deng Xiaoping when he visited Xiamen on Feb 9, 1984: “Let’s ensure a faster and better development of the Special Economic Zone”.

　　Thank you!

（Translated by Chen Qing,Cai Qiuhong,Cai Yue'e,Xu Chenbing）