In August, 452 private companies were registered in Taicang in Suzhou, Jiangsu province, up 52.7 percent year on year, according to the municipal administrative examination and approval bureau on Sept 7.

The new companies brought in a total investment of around 6.9 billion yuan ($1.01 billion), up 404.13 percent year on year.

The growth was generated by a reform allowing investors to use non-commercial properties to register companies, which is particularly beneficial for people engaged in e-commerce and livestreaming.

In addition, Taicang's new household registration policy, which took effect on May 1, had attracted about 3,600 new residents by September.

Zhang Zhenwei, a spokesperson for Kern-Liebers (Taicang), a 100-percent foreign owned company and the first German company in Taicang, said the Shanghai-Suzhou-Nantong Railway will add to the city's logistic edges (water transportation around Taicang port) and bring in human resources from neighboring areas.

The city's talent inflow was also 561 percent higher than in the same period last year.