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some regions have also abolished illegal preferential investment policies.

for example, the office of the people's government of haojiang district, shantou city, guangdong province announced on september 28 that in order to implement the deployment of building a unified national market, create a fair and orderly competitive environment, and further standardize the investment promotion work in our district, after study, it was decided to abolish the " several preferential policies to promote the development of key industries in haojiang district, shantou city" (shantou haofu ban [2023] no. 8).

according to the explanation from the haojiang district people's government office, the "regulations on fair competition review" will come into effect on august 1, 2024. this is my country's first administrative regulation on fair competition review, further consolidating my country's protection and promotion of fair competition, build a legal foundation for a unified national market. according to the relevant spirit of the "notice of the guangdong provincial department of commerce on issuing a special rectification work plan for vicious competition in investment promotion" (guangdong business promotion letter [2024] no. 62), it is required to in-depth rectify issues such as vicious competition, involution and internal friction in the field of investment promotion. , maintain fair competition market order, and focus on rectifying the vicious competition in investment promotion in the province since 2023. "several preferential policies to promote the development of key industries in haojiang district, shantou city" is suspected of not complying with the relevant provisions of the "fairness review regulations" and has generally failed to achieve the expected goals since its implementation.

the paper earlier reported that recently, the "notice of the ningyuan county people's government on the issuance of the ningyuan county people's government" (ningzhengfa [2022] no. 2) in ningyuan, hunan province contains preferential policies linked to taxation, which is not in line with the spirit of relevant documents from superiors, and should be revoked. abolished; shaanxi ningshan's "ningshan county investment incentive and support policies and measures" (ningzhengbanfa [2024] no. 22) individual measures are inconsistent with the requirements of the "fair competition review regulations" issued by the state council in 2024 and will also be abolished.

a commentary article in hunan daily pointed out that in the past, financial incentives, tax refunds, land concessions, etc. were commonly used methods to attract investment in various places. the fair competition review regulations, which were officially implemented on august 1 this year, clearly stipulate that local governments shall not grant tax preferences to specific operators, nor may they grant selective and differentiated financial incentives to specific operators without the approval of laws, regulations or the state council. or subsidies. this means that all localities must bid farewell to the past "involution-style" investment promotion that blindly competed for resources, policies, and taxes, and transformed from competing for preferential policies to create a "policy depression" to competing for a business environment to create a "reform highland."

the article summarized that for a period of time, various places were "fighting for the economy", staged a war to grab people and businesses, and used "eighteen kinds of martial arts" to attract investment. although some places have stimulated economic growth in the short term, arbitrage by "migratory bird-like enterprises" and other chaos has also occurred, failing to achieve real and lasting economic growth. more importantly, these "shopping-style" investment promotion models also encourage local protectionism and hinder the efficient flow of factor resources. adjusting and standardizing the traditional investment model with the times not only meets the development needs of various places, but is also part of the problem of accelerating the construction of a unified national market.

adjusting the investment promotion model, instead of fighting for land taxation and incentive and subsidy policies, what should we fight for? the above-mentioned commentary article pointed out that the industrial advantages and business environment must be strengthened. at present, jiangsu, guangdong and other places have established professional investment promotion companies to undertake the function of investment promotion, realize the transformation from government-led to enterprise-led or government-enterprise cooperation model, and optimize professional investment promotion services; the governments of shanghai, hunan and other places have successively issued tens of billions industrial investment funds with levels of up to rmb 100 billion can attract more long-term, high-risk innovative projects with stable and sustained financial support. saying goodbye to direct land, tax, subsidy and other preferential treatment, these new "tools" in the investment "toolbox" of various places can provide enterprises with better and more sustainable services and support.

the "hunan daily" commentary article believes that from another perspective, the absence of disorderly illegal policy competition can also force various localities to pay more attention to tapping resource endowments and making good use of their own industrial chain advantages. especially for some central cities, it was difficult to compare with the economically developed eastern cities in terms of the intensity of preferential treatment and the speed of subsidies. however, when the "involution" subsidy policy is stopped, some central cities with good industrial foundations and promising industrial prospects may be able to usher in opportunities to overtake others by focusing on optimizing the business environment.

the "yangtze evening news" commentary article mentioned at the beginning that there is a concept in sociology called "theatre effect": a group of people are watching a play in a theater, and if those standing in the front row stand up to watch the play, it will lead to other people, and in the end everyone will stand and watch the show. similar phenomena often occur when it comes to attracting investment. one place blindly pursues local and short-term interests, and exhausts tax refunds and other ultra-preferential means to attract investment regardless of cost. other places have to follow up and increase their efforts, which ultimately leads to fighting for land, resources, and policies. , "shopping style" investment promotion to fight for taxes.

the article mentioned that many places have fallen into the vicious circle of "fighting for discounts" in investment promotion. some blindly lower environmental protection and fire protection requirements for investment promotion, causing huge environmental protection and fire protection hazards to the local area; some compete to provide enterprises with superior policies in order to win projects quickly. routine discounts, and even "poaching investment", "picking fruits" from other people's trees at the expense of tight finances. under this kind of "combination punch", some low-end and middle-end industries that are more sensitive to "cost differences" have formed certain "cost advantages" due to various subsidies, rebates, etc., which have been unable to be cleared, which has a negative impact on industrial upgrading and enterprises. the improvement of investment quality has a significant inhibitory effect. more importantly, this will encourage local protectionism, distort the real market demand, cause market segmentation and small-scale industries, which will lead to efficiency losses and hidden waste, and restrict the use of the advantages of a unified national market.

"today, in addition to traditional industries, emerging fields such as artificial intelligence, cultural creativity, and new energy vehicles are booming, constantly injecting momentum into the development of new productive forces. these fields may exhibit the characteristics of 'high r&d investment and low marginal cost', or' the growth and development of the industry, no matter what kind of industry it is, call for a unified national market.” as pointed out above, at this time, industrial isomorphism is weakened by standardizing unconventional preferential measures in investment promotion. , market segmentation, it is particularly necessary to solve problems such as the domestic market is not unified, large but not strong.

the intersection comment article mentioned the case of suzhou - the "first store economy" is booming. as a national investment attraction highland, suzhou industrial park successfully attracted more than 150 first stores of various brands last year, accounting for nearly 30% of the total in suzhou. %. behind this is the park's creation of a political and social integration professional service matrix "first store help group" with 10 functional units, as well as the pioneering "first store one thing" service model, which has successfully made the "first store economy" in the park gained momentum quickly.

the article stated that the "decision" of the third plenary session of the 20th central committee of the communist party of china proposed: "standardize local laws and regulations for investment promotion, and strictly prohibit illegal and illegal behavior of granting policy preferences." this is a major deployment made by the party central committee to promote the construction of a unified national market. it is also a major decision made from an overall perspective, and it brings a timely end to the "subsidy competition" style of investment promotion. suzhou industrial park breaks the old and establishes the new, takes "compared service" as a new strategy to deal with competition in investment promotion, embarks on a new path in investment promotion, and thus once again stands at the forefront of the times.

this article believes that the transformation from "roller subsidies" to "better services" may not happen overnight. in the process of innovative practice, various localities will face some challenges, especially in terms of government service capabilities. providing high-quality services requires professional knowledge and skills, as well as efficient organizational and coordination capabilities, anchoring the creation of a high-quality business environment and industrial ecology. government service personnel need to proactively update business skills, develop professional qualities, and improve service levels. while strengthening pre-job training and practical training, the government should also integrate the power of administrative departments, enterprises, social organizations, etc., establish coordination mechanisms and cooperation platforms, and integrate resources to form a synergy of services.