The 2020 Annual Meeting China Enterprise Innovation Forum was held in Beijing on Dec 12 and the Nantong Economic & Technological Development Area (NETDA) Holding Group Co Ltd was conferred with the title of "outstanding enterprises of China's productive forces development" at the event, the organizers said.

The company is the operator of the Nantong Economic & Technological Development Area – or the NETDA – located in Nantong city, in East China's Jiangsu province.

Wang Zhibing, chairman of the group delivered a speech in which he gave details on the company's background, innovative features and the implementation of its "13N+" management system.

Wang said the company's "13N+" management system refers to one reform of its salary system as the core tenet.

He also explained NETDA's innovatively designed three operational systems.

These include parallel job ranks, enterprise classification ratings and performance appraisals of employees -- as well as "N" standard systems covering a development strategy, economic indicators and work safety.