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Entering August, as hot as the temperature, is Nanjing’s project attraction – first the central enterprise China Baowu announced the settlement of the regional headquarters, and then the foreign company McDonald’s China scientific research headquarters was officially opened, Nanjing investment promotion continued the good trend of more than 800 projects and 26 high-level projects in the first half of the year.
○ In fact, on August 1, following the issuance of the “Several Measures on Regulating Investment Promotion Behaviors and Promoting the High-quality Development of Investment Promotion” issued by the General Office of the State Council, the “Fair Competition Review Regulations” also came into effect.
○ How to fight local governments in the new investment promotion environment? Through the “semi-annual report” of Nanjing’s investment promotion, we may be able to see new ideas.01Carry a basket and choose a good dish
○ In the field of investment, there is a saying that “when you pick up a basket, you will have vegetables”. In the face of the new big test of attracting investment, this kind of extensive investment promotion will inevitably become a thing of the past.
○ At present, more and more cities have begun to “carry a basket to choose good dishes”, focusing on key industries, in accordance with the idea of recruiting leaders, replenishing chains, and gathering groups, to promote the extension of the chain and the strengthening of the chain in a targeted manner, and effectively embed good projects into the industrial chain. Nanjing is no exception. Looking at Nanjing’s “semi-annual report” for investment promotion, the gradual increase in good projects is the “good dish” for its construction of the “4266” industrial system. Focusing on the four pillar industries of steel, petrochemical, automobile and electronics, Nanjing has strengthened the upgrading and attraction of large-scale advanced manufacturing projects, and has successively completed several tens of billions of projects to further optimize the industrial structure.
○ At the end of March, the high-end daily chemical project of Jinling Petrochemical with a total investment of about 10 billion yuan was started, creating the first domestic daily chemical new material industrial cluster from petroleum raw materials to end products; At the beginning of May, BASF, the world’s chemical giant, announced that it would invest in the expansion of its advanced additives plant at its Nanjing base, with a total investment of 26.8 billion yuan. The Xinghu Carbon Neutral Industrial Park, which opened in June, is adjacent to the Nangang Plant and will focus on three major tracks: metals, special functions, hydrogen energy and energy storage materials. Recently, China Baowu Nanjing headquarters was inaugurated, and the two sides will jointly build Meishan Industrial Science and Technology Innovation Demonstration Zone and Advanced Manufacturing Base, and promote the high-end, intelligent, green and cluster development …… China Baowu enterprises in Nanjing
○ In the past two years, Nanjing has planned major transformation and upgrading projects with a total investment of over 100 billion yuan in the field of traditional industries, continuously consolidating the leading position of traditional industries and promoting the transformation of the whole chain. While accelerating the renewal and upgrading of pillar industries, the cultivation and expansion of emerging industries and the layout and construction of future industries have not been left behind.
○ Nanjing Yinwang Zhixing Technology Co., Ltd., established in March, is a wholly-owned subsidiary of Huawei, engaged in application system integration, basic software development, and intelligent vehicle equipment manufacturing in the field of artificial intelligence. At the low-altitude economic development conference held in May, 37 industrial funds and investment projects were signed on the spot, with a total investment of 30.6 billion yuan; In June, CATL and Nanjing launched a comprehensive strategic cooperation on the construction of a “zero-carbon city”, and will deploy photovoltaics, energy storage, transportation electrification, energy innovation platforms, and zero-carbon parks in Nanjing……
○ It is good to suit oneself. Relying on the accurate “industrial investment map”, Nanjing has held hundreds of large-scale investment promotion activities since the beginning of this year, and executives from BMW, SINOMACH, SAIC and other well-known enterprises have come to Nanjing to discuss cooperation. In the first half of the year, Nanjing attracted more than 800 projects, including 26 high-energy projects, with a total investment of about 83 billion yuan.
02Speak in the jargon and do reliable things
○ When new terms, new technologies, and new forms of business are constantly emerging, speaking in jargon and doing reliable things are often more impressive than exquisite policy brochures.
○ At the beginning of the new year, Nanjing Jiangning Development Zone signed the first order of the new year – Polestar Technology China Headquarters Project. Chen Siying, Senior Vice President of Product Planning at Polestar Technology, commented on the investment promotion team of Jiangning Development Zone: they can understand the technical level, development path, and expectations of the project at a glance, understand it when they hear it, understand it when they communicate with each other, and solve problems neatly. It took several months from the first negotiation between the two parties on the Polestar technology project in October 2023 to the signing of the agreement in early January this year.
○ One detail that impressed the company was that during an offline meeting between the two parties at the stage of agreeing on the cooperation agreement, fifteen or sixteen people sat in a conference room from 2 p.m. to 10 p.m., and when they encountered terms that could not be finalized on the spot, Polestar directly connected with the legal and senior management of the headquarters by video, and during the eight hours, no one walked out of the conference room except for going to the bathroom.
○ Let high-quality enterprise projects be introduced and stayed, and it is necessary to let them start construction and put into production quickly.
○ At the end of June, the groundbreaking ceremony of the multi-chip high-density board-level fan-out packaging industrialization project of Jiangsu Pangu Semiconductor Technology Co., Ltd. was held, marking that the project has entered the full construction stage. This is the fourth heavyweight industrial project of Huatian Group in Nanjing, and the world’s first fully automatic board level packaging production line will be built. In 2021, it will increase its capital by nearly 10 billion yuan to establish the Huatian Technology (Jiangsu) project, and in March this year, it will increase its capital by 10 billion yuan to lay out the second phase of the Huatian Technology (Nanjing) project…… In just a few years, Huatian Group has a heavy position of more than 30 billion yuan in Pukou Economic and Technological Development Zone.
○ Zhu Yuping, deputy general manager of Huatian Technology (Nanjing) Co., Ltd., once said that from the completion of Huatian Nanjing to the leapfrog development in recent years, from the establishment of Huatian Jiangsu project to the record of 326 days of completion, it is inseparable from the services of various departments in Pukou from the help of pre-formalities, the living guarantee of employees to the direct delivery of preferential policies.
○ In the first half of the year, 49 provincial and municipal major projects in Jiangbei New Area completed an investment of 9.563 billion yuan, with an investment completion rate of 56.3%, 6.3 percentage points ahead of schedule, and 17 major municipal projects in Xuanwu District completed an investment of 5.87 billion yuan, accounting for 73.8% of the annual plan, and the start-up rate of new projects at the municipal level reached 100%. The number of investment attraction projects, the number of projects started and operated, and the total actual investment in Jianye District have all reached the progress of the time, and it has become a red flag unit of the “hot list” of investment promotion.
○ It can be said that matching good services for good projects is also an important part of attracting investment.
03The fund attracts investment and fills the position, and the patient capital lands
○ On June 21, the Jiangsu Provincial Strategic Emerging Industry Fund of Funds with a total scale of 50 billion yuan was officially launched, striving to build a patient capital ecology.
○ In the view of industry insiders, when investment promotion no longer blindly spells for preferential treatment and policies, actively attracts long-term capital investment, supports patient capital to sink to a earlier investment stage or a more subdivided professional track to explore value, and forms a virtuous circle of “science and technology-industry-finance”, it is a new investment strategy.
○ In fact, it is not a new word to attract enterprises to land with fund investment, and the investment data shows that 516 of the 700 cities in the country have set up funds or LPs, and Nanjing has also laid out early.
○ In April this year, Mobvoi, an enterprise in Nanjing Economic and Technological Development Zone, was officially listed on the main board of the Hong Kong Stock Exchange, becoming the “first AIGC (generative artificial intelligence) stock” in Hong Kong stocks. At the Nanjing 2024 Global Industrial Technology Innovation and Investment Promotion Conference held on June 21 this year, Mobvoi announced the official upgrade and construction of its global headquarters in Nanjing.
○ In 2021, Nanjing Xingang High-tech Venture Capital Co., Ltd., a subsidiary of Nanjing Economic and Technological Development Zone, initiated the establishment of 4 funds after obtaining the private equity fund management qualification; In September 2023, the Pukou High-quality Development Fund of Funds successfully completed the filing of the AMAC, creating a multi-level fund matrix covering the whole life cycle of the enterprise; In October 2023, the Nanjing Jiangbei New Area High-quality Development Industrial Investment Fund with a total scale of 10 billion yuan was established; On June 21, Nanjing released a “4+N” industrial fund cluster with a total scale of more than 200 billion yuan; On July 3, the first batch of industrial special funds of Jiangsu Province Strategic Emerging Industry Fund of Funds were signed, of which the first batch of four industrial special funds jointly established in Nanjing, including the software and information service industry special fund, the new power industry special fund, etc., with a total scale of 13.5 billion yuan, closely combined with Nanjing as a “China software city”, as well as the actual industrial development needs of the smart grid industry cluster in a leading position.
○ In August last year, Nanjing issued the “Policies and Measures on Strengthening Investment Promotion and Promoting the Industry to Strengthen the City” and other new policies for investment promotion, mentioning that the investment promotion work should clarify six major paths – highlighting the existing enterprise services, industrial chain investment, partner investment, exhibition investment, fund investment, and “first-in-command” investment. With its own ideas and ways of playing, Nanjing clearly put forward the “15315” annual investment target – 1,000 projects throughout the year, including 50 high-energy projects, 300 projects started, and a total actual investment of 150 billion yuan.
