Hunan Province in Central China has introduced 10 policies to strengthen cooperation with German-speaking countries and regions, the provincial Department of Commerce announced on Wednesday.
The measures, effective immediately and set to remain in place for three years, aim to enhance the integration of industrial, innovation and talent chains, and to boost high-standard opening up.
German-speaking countries and regions are leading in sectors such as auto manufacturing, engineering machinery and smart manufacturing, complementing Hunan's industries. A total of 34 German firms, including Bosch and Schaeffler, had cumulatively invested 2.23 billion U.S. dollars in Hunan by the end of 2024.
The new policy measures cover trade, innovation, talent, finance and logistics, among others. Specific measures include those to facilitate business matches, attract projects, build cooperation platforms, and support local firms in expanding abroad.
Separately, Hunan has also rolled out eight measures to ease entry, work permit, business establishment and daily life services for foreign nationals, effective June 1.
Local officials of the provincial department of commerce said that all of these new measures will optimize Hunan's business environment, boost two-way investment, and enhance the province's international industrial integration.