National Level Open Area To Win Policy Support For Textile Enterprises

Recently, the Ministry of Commerce and the State Development Bank signed the memorandum on promoting the innovation and upgrading of state-level economic and technological development zones to promote high-quality development cooperation, supporting the state-level economic and Technological Development Zone (hereinafter referred to as the "national level open area") to optimize the industrial layout, expand the urban functions, improve the quality of the ecological environment, and improve the quality and efficiency of development.

According to the memorandum, the two sides will focus on supporting the upgrading of old areas, upgrading industrial zones, building international cooperation zones, and building modern industrial systems. The State Development Bank will provide a total of not less than 100 billion yuan RMB in the next 3 years, support the state-level open areas to optimize investment environment, strengthen urban service functions and upgrade the level of new urbanization.

According to the memorandum, in 2020, according to the decision of the CPC Central Committee and the State Council on coordinating the promotion of epidemic prevention and control and economic and social development, the State Development Bank will also increase its support for foreign trade and foreign-funded enterprises in the National Economic Development Zone, stabilize the capital chain, open up the industrial chain, and ease the liquidity difficulties caused by the epidemic situation. At present, a large part of our textile enterprises are located in the national level development zones of various provinces and cities. The support for the state-level economic development zones will indirectly promote the development of these textile enterprises in the future and benefit these textile enterprises.