China (Jiangsu) Pilot Free Trade Zone Nanjing Area was highly hailed on the regular press conference of the Ministry of Commerce (MOC) of the People’s Republic of China on March 12 as it tried to resolve the difficulty in attracting investment through “cloud” and the internet.

Since mid-February, China (Jiangsu) Pilot Free Trade Zone Nanjing Area has held online contract-signing activities twice through investment platforms like Yunduan Zhihui (cloud intelligence), involving 10 projects in the fields of e-information, high-end equipment manufacturing, biopharmaceuticals, new materials and modern services, with a total investment of RMB 16.8 billion.

China (Jiangsu) Pilot Free Trade Zone Nanjing Area promotes high-quality development by improving the business environment, with greater emphasis on the quality, efficiency, and change of driving force. Examination and approval of 99.66% of the items can be done online, and more than 50% of enterprises completed the registration process online. As Nanjing Area executed the examination and approval authority of the customs for D-level special items, the examination and approval time was shortened to half a day from the previous five working days on average. Moreover, a guarantee mechanism was implemented for notification of architectural engineering construction permit to further reduce the time and improve the efficiency of examination and approval, and construction was able to be commenced immediately after land acquisition, thus the “free trade zone speed” was achieved during the process of striving to build a benchmark for high-quality economic development.

As a pioneer and pace-setter for comprehensively deepening reform and expanding opening up, China (Jiangsu) Pilot Free Trade Zone Nanjing Area has actively explored and innovated comprehensive trade supervision models, set up a platform for collective biopharmaceutical supervision and public services, and improved the quarantine and inspection procedures of special items for biopharmaceutical experiments; formulated a number of reform measures to support the headquarters economy, green finance, legal services, and equity investment; encouraged innovation and entrepreneurship, set up service counters for foreigners to work in China, and implemented pilot project of the reform for “double employment system” of talent in colleges and universities to facilitate industry-university-research collaborative innovation.