Suzhou issues first business license of YRD integration zone

Suzhou in East China's Jiangsu province issued the first foreign business license of the demonstration zone for eco-friendly and integrated development in the Yangtze River Delta region on April 1, local media outlets reported.

The license was obtained by a joint venture set up by Suzhou Zhenlun Spinning Co, a leader of the cotton industry in Wujiang district, as well as investments from Hong Kong, with a total registered capital of 1 trillion yuan ($152.60 billion).

The venture was hence named Yangtze River Delta Integration Demonstration Zone (Jiangsu) Zhenlun Co, the first foreign-invested enterprise in China that has its name indicating its pursuit of integrated ecological and green development.

According to Gu Chang, an official at the local market supervision bureau, it usually takes three workdays for foreign-invested enterprises to submit their applications and have "Yangtze River Delta Integration Demonstration Zone" included in their names.

"The eco-friendly and integrated development in the YRD region is in line with our company's development pattern and we will focus on this direction to better serve our clients," said Shen Yaohua, vice-president of the company.

The demonstration zone for eco-friendly and integrated development in the YRD region, which was approved by the State Council in 2019, comprises of Shanghai's Qingpu district, Jiashan county in Zhejiang province, and Wujiang district in Jiangsu province.