Hunan Province has introduced projects with an investment of nearly two trillion yuan since the implementation of the program to encourage Hunan-born entrepreneurs to return home, said Shen Yumou, director of the Hunan Provincial Department of Commerce, at a working conference on promoting targeted investment attraction.

The program has brought back a number of projects, capital, technologies and talents. Director Shen added that in 2022, the returnees registered 953 startups in Hunan, with the paid-in investment of 447.5 billion yuan. In the first 10 months of 2023, the accumulative paid-in capital reached 471.54 billion yuan and the number of startups totaled 1,117. According to incomplete statistics, Hunan introduced 262 projects in 2023 with the help of Chinese and overseas business associations. The paid-in investment was 135.3 billion yuan.

So far, there are four million Hunan-born entrepreneurs working or running businesses across the globe, with industries covering more than 180 countries and regions, said Chen Xianchun, deputy secretary general of the Hunan Provincial People's Government, adding that the total assets of these entrepreneurs surpassed four trillion yuan. Chen noted that there were 10 companies invested by Hunan-born entrepreneurs included in the list of top 500 Chinese enterprises, and 14 ones included in the list of top 500 Chinese private enterprises. 

The conference commended 22 outstanding chambers of commerce and 94 outstanding organizations for their contributions to Hunan's investment attraction. In the future, Hunan will give full play to the role of business associations to encourage Hunan-born entrepreneurs to return home and take targeted investment attraction measures. Efforts will be made to improve investment attraction liaison mechanisms, continue to optimize the business environment, and promote high-quality economic and social development.

This article is from the Hunan Provincial Government www.enghunan.gov.cn.

Translator: Xiao Juan

Chinese source: People's Daily