A panoramic view of Changchun International Auto City in Changchun, Jilin province [Photo provided to gojilin.gov.cn]

Northeast China's Jilin province recorded growth in investment promotion in the first three quarters of 2021, with 1,616 funded projects and paid-in investment hitting 309.16 billion yuan ($48.38 billion), year-on-year increases of 15.4 percent and 30.5 percent, respectively.

Since the beginning of this year, Jilin has held various events targeting investment promotion in places including Zhejiang, Guangdong, Beijing, Jiangsu, Shanghai, and Tianjin. A total of 142 major projects were signed into effect with a total contract value of 244.16 billion yuan.

Statistics show that foreign direct investment in actual use in Jilin province was $656 million in the first three quarters of 2021, a year-on-year increase of 28.32 percent, with the growth rate ranking first in Northeast China.

Since the beginning of the year, Jilin province has helped foreign-funded enterprises to make full use of foreign investment policies based on the extension of the industrial chain.

At the same time, Jilin has increased fiscal and taxation support, optimized the approval process and time limits, and helped with problems encountered by enterprises by offering targeted services.

Jilin has made full use of important platforms such as the China-Northeast Asia Expo and the World Jilin Entrepreneurs Convention to better attract foreign investment, with some 110 projects worth more than 118.99 billion yuan being signed into effect during the events.

With the adjustment and optimization of Jilin's industrial structure, foreign investment has shifted from traditional manufacturing to emerging industries such as medicine and health, new energy, and new materials.

In Changchun New Area, a biopharmaceutical company, an Iceland-Changchun hi-tech joint venture – Changchun Anwo Hi-tech Biopharmaceutical Co – is stepping up construction on its plant area. The plant is expected to be officially put into operation in June 2022.