It was learned from Jinwang Bismuth Co., Ltd. that Chenzhou Finance Bureau allocated 462,300yuan to the company as the special funds for the development of open economy. It was used as the subsidies for the international logistics and exportation of its products, which was greatly helpful to promote the increase its exportation. “It was very intense competition in international market, so just some support of capitals are helpful for us to be more competitive in the international market.”gladly said by one of the principals of Jinwang Bismuth Co., Ltd.

It was introduced that Chenzhou finance set up a special fund for the development of open economy from 2009. Taking 50million yuan each year into account, 300million yuan funds have been allocated to support 1026 enterprises till now. The special funds were mainly used for the construction of industrial parks’ infrastructures for undertaking industrial transfer, construction of opening platform, subsidies of the construction of standard workshops, subsidies for the foreign trade logistics, large scale exhibition, and etc.

In order to upgrade the effectiveness of the utilization of funds, Chenzhou city issued some files as “temporary solution on the utilization and management of special funds of undertaking industrial transfer”, “implementation comments on further acceleration of undertaking industrial transfer and development of open economy” and “temporary solution on the management of Chenzhou municipal level financial special fund”. All the files kept optimizing the utilization and scheduling of funds, which helped the financial funds to play its best role.

Assisted with the special fund for development of open economy, Chenzhou city’s open economy was being improved rapidly in recent years. From 2009-2014, 16.51million square meters standards workshops were built; over 1900 undertaking industrial transfer projects were settled down; the actual use of foreign investments were amounted to US$4.57 billion; and the paid-in domestic investments were amounted to 150.68billion yuan. Export processing zone plus logistics bonded functions, highway port, and railway port were built successively. The total volume of foreign trade increased from US$550 million in 2009 to US$4.56 billion in 2014 with an annual increase of 52.7%.