Xiamen attempts to attract investment amid epidemic

Xiamen, a city in East China's Fujian province, witnessed sharp growth in investment amid the COVID-19 epidemic, local media reported on June 17.

Due to the epidemic, Xiamen held online promotional conferences to attract investment and made full use of social media platforms to attract foreign investment.

Thanks to the efforts of the local government, the city managed to sign a framework agreement for strategic cooperation with the Commercial Aircraft Corporation of China (COMAC) this April, and the two parties agreed to strengthen cooperation in plane maintenance and modification, the manufacture and maintenance of accessories, and personnel training. With the help of COMAC, Xiamen's aviation industry is expected to grow faster and stronger.

In addition, a company under China Information and Communications Technology said that it plans to invest 8 billion yuan ($1.13 billion) in the building of a new infrastructure platform in an effort to develop a complete industrial system for digital transformation, intelligent upgrading, and integrated innovation.

In recent years, Xiamen has been putting more focus on the new economy and new business models, as well as promoting the development of an innovation-driven economy, with the aim of cultivating more high-tech, high-growth, and high-added value enterprises in Xiamen.

Statistics show that the city is now home to 1,928 national high-tech enterprises, a growth of 113.2 percent over the same month last year, and it is now home to 80 gazelle enterprises.

The city has set up 12 complete industrial chains, including eight with an economic scale exceeding 100 billion yuan. The chains include panel displays, computer and communication equipment, mechanized equipment, tourism and MICE (meetings, incentives, conferences, and exhibitions), modern logistics, software and information services, financial services, and culture creativity.