On January 26, 2021, Zhenglong Wu, deputy to the Jiangsu Provincial People’s Congress and governor of Jiangsu Province, as well as other deputies from the Nanjing delegation, reviewed the government work report during the Two Sessions for Jiangsu Province. During the review, Shan Dandan, deputy to the Jiangsu Provincial People’s Congress and CEO of FOR-U Smart Freight (also known as Fuyoukache in China), offered two suggestions: “Capitalize on market forces to support startups and innovative companies” and “Attract talent with an innovative mindset."
FOR-U
FOR-U
In 2020, the GDP of Jiangsu Province set a new record high of more than RMB 10 trillion, with a GDP per capita of RMB 125,000, the highest in the country. In spite of the many uncertainties in the international environment due to COVID-19, Jiangsu continued to display impressive economic performance metrics.
FOR-U
FOR-U
Behind the GDP growth is the continued optimization of the business environment, resulting in a fertile landscape for innovators and entrepreneurs. In the World Bank Group's Doing Business 2020 report, China ranked 31st overall, while also rising into the top ten most improved economies for ease of doing business. In recent years, Jiangsu province has tailored policies to nurture high-tech companies and support startups with innovative ideas or models.
FOR-U
FOR-U
In her speech, Shan advised that when developing policies to support startups and innovative companies, the government should closely follow the lead of market forces and VC firms to find high-potential projects and companies. As VC firms put their own money where their mouth is, so to speak, when seeking out potentially lucrative projects, it makes sense to examine choices made by VC firms, so that the policies the government makes are more tailor-made to the needs of companies and conducive to the creation of a favorable environment for innovation and entrepreneurship.
FOR-U
FOR-U
FOR-U
FOR-U
A first-class business environment cannot be achieved without the requisite talent. In the Global Talent Competitiveness Index 2020, jointly released by INSEAD and Google, Nanjing ranked 75th globally. This was the first time Nanjing made the list, reflecting the high degree of opening up in the region.
FOR-U
FOR-U
As an innovative entrepreneur, Shan Dandan pointed out that high-performing talent in the fields of technology, management, and finance is indispensable for converting research achievements into real productivity. With regard to corporate development, Shan advised that the government makes inclusive policies to attract talented employees with the right mindset for innovation.
FOR-U
FOR-U
Shan went on to say that FOR-U witnessed rapid development and growth during the 13th Five-Year Plan, assisted by the boom in the digital economy. Since its launch in 2015, the FOR-U platform has expanded from Nanjing to the national market in just five years. From a startup to a unicorn, FOR-U is now a leading tech-driven logistics enterprise in the industry, and a paragon of achievement representative of the outstanding business environment in Jiangsu province.
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