Support for enterprises generates growth

By YIN RUOWEI | China Daily | Updated: 2022-09-10 15:38

Government of Siming district in Xiamen committed to assisting businesses through any challenges they may face

Siming district in Xiamen, Fujian province, reported a 6.8 percent year-on-year GDP increase in the first half of 2022. It was the highest in the city after a 12-year interval and proved the government's measures in promoting economic growth were effective.

Data show that the district's GDP stood at 120.3 billion yuan ($17.43 billion) in the first six months. Its economic indicators in both the first and second quarter reached or exceeded expectations, according to local officials in a meeting held in July.

Behind these achievements is the district's long-term support for enterprises. To reduce the financial burden on enterprises, the district has adopted a number of targeted measures. For example, it has hosted livestreams to explain relevant policies and answer questions from enterprises, which garnered 8 million views.

In the first half of this year, the district provided enterprises and self-employed individuals with a subsidy of more than 1.2 billion yuan, tax refunds, and tax and fee reductions that amounted to 1.67 billion yuan.

A total of 59 online consumption promotions were held by the district. Coupons worth 5 million yuan were released to boost consumption.

Instead of resting on its laurels, Siming district then started to plan for the second half of the year. "We should be alert to dangers even in times of calm," said a local official.

According to the district, it will strive to ensure a steady economic performance. It will pay close attention to the economic development each day, analyze data each week and give directions each month. Also, to ensure that each task and project can be implemented, 17 working groups are to be put in place. They will be in charge of tracking, supervising and fulfilling tasks.

Investment projects are a pillar of Siming's high-quality development, said a local official. The district plans to pool projects together and offer enterprises a range of services covering the life cycle of a project. The district's command center, working groups and staff members will also join forces to solve problems in the process of corporate project launches.

In addition, the district is speeding up its efforts to attract investment. It is now teaming up with Xiamen University, located in the district, to attract alumni to invest.

Up to now, 411 projects invested by its alumni are underway, with a total value of 97.2 billion yuan. Of them, 364 have started operations, with a total investment of 79.3 billion yuan.

The global operation center of Fujian-based Jomoo Group, a leading kitchen and bathroom products manufacturer, recently started construction in Guanyin Mountain International Business Center in Siming.

The center covers an area of 35,000 square meters, with an estimated total investment of 600 million yuan.

Lin Sinan, vice-chairman of Jomoo, said his company is committed to leading the smart bathroom market globally by 2030. The construction project is to become Jomoo's command center for its businesses across the world.

Lin said Jomoo now holds more than 12,000 patents and has won 192 global design awards. It has 16 research and design centers around the world and spends 10 percent of its sales on research and development each year.

Jomoo's R&D efforts have paid off; it recorded a 30 percent yearon-year sales increase in the first quarter. According to company executives, Jomoo is now worth 100 billion yuan. Its sales volume has ranked first in the bathroom product industry for 12 consecutive years, with its products sold to more than 120 countries and regions around the world.

"R&D has long been our magic wand to help us take on the international market. Our company's focus on R&D coincides with Xiamen's philosophy of promoting innovation development," Lin said.

"Xiamen is a benchmark city for its good business environment and Siming is the central part of Xiamen. The development of Jomoo would not have been possible without the support from local government sectors and related organizations.

"Over the past 10 years, the city and district governments have not only offered us preferential policies, but they put their hearts into problems that faced us. No matter how big or small the problem was, they lent helping hands, which boosted our confidence in our future development in Xiamen and encouraged us to make more contributions to the high-quality development of Xiamen."

In May, the district government had an in-depth discussion with Jomoo to help fix problems it encountered.

A local official said: "Enterprises' needs are what we care about. Siming will guard smooth operations covering the life cycle of a project and create favorable conditions for the project, to help the project be completed early, start production early and make a profit early. We sincerely welcome entrepreneurs, including alumni, to invest in Siming to achieve mutual benefit and win-win cooperation."

yinruowei@chinadaily.com.cn