Nanjing-style Development

Host city is investors' favorite

By Song Wenwei (China Daily)
Updated: 2009-11-30 07:45

NANJING: When Nanjing fully emerges from the economic crisis, it will be a much greener city and European firms will help in that transition, said a leading city politician.

"We will make greater efforts to achieve green development in the post-recession era together with European Union (EU) companies and enterprises in Nanjing," said Ji Jianye, acting mayor of Nanjing.

Ji was speaking during the EU-Nanjing Business Connecting convention yesterday.

At the event, more than 600 domestic and European businessmen met and discussed the possibility of future cooperation between EU-based companies and the city of Nanjing.

The EU-China Business Summit is continuing in this major city, the capital of East China's Jiangsu province, with the help of the Nanjing government and European Union Chamber of Commerce, which was also one of the sponsorers of the event.

It aims to provide a platform to more than 170 European and Chinese companies and enterprises seeking to exchange information and find cooperation opportunities.

Over the years, Nanjing has become a favored city in China for investors from the EU.

Statistics show that by September, 21 of the 27 EU nations had invested in 648 projects in Nanjing, with an actual investment of $3.45 billion. The EU investment accounts for 16 percent of the total foreign investment in the city.

"Such a large number of European enterprises and companies have come to invest in Nanjing simply because the city has a higher degree of transparency and is much more reliabile than other cities," said Hans-Christian Marxen, chairman of the EU Chamber of Commerce's Nanjing operations. Marxen has worked in Nanjing for five years and calls it his second home.

European businessmen in Nanjing cannot stop praising the city.

"As Nanjing is such a good place for investment and development, I do hope more European companies will set up their regional headquarters here to help the city grow faster and better," said Roland Gerke, CEO & President of BSH China.

Nanjing is trying to develop environment-friendly, low-carbon industries that make use of new energy sources and materials. The city plans to invest 600 billion yuan on the wind power and photovoltaic equipment industry.

(China Daily 11/30/2009 page13)