Zhejiang's new-round action plan to foster MNCs

Upgraded move to support over 300 players in extending overseas footprint

East China's Zhejiang province has been fostering the growth of its private corporations in a bid to strengthen their global presence.

In 2017, Zhejiang took the lead nationwide in launching a three-year action plan to cultivate local private multinational corporations, aiming to bolster the provincial economy.

In 2020, the province initiated another three-year plan, "Silk Road Navigation", through which companies were encouraged to transform their local headquarters in Zhejiang into global operations centers, management hubs, and research and development centers.