China's Ministry of Commerce has released a work plan to deepen reform and innovation in the country's state-level economic and technological development zones as part of efforts to spur high-quality development through high-standard opening-up.
The work plan stresses that these development zones should pioneer new roads forward in reform and opening up and should further improve the institutions and mechanisms in this regard.
To enhance the quality of foreign investment use, foreign-funded projects in sectors such as integrated circuits, biomedicine, and advanced equipment manufacturing within the zones should be prioritized for inclusion in the list of major foreign investment projects, according to the plan.
It also encourages the development zones to deepen engagement with leading global investors and financial institutions by leveraging trade promotion platforms, and supports the zones in organizing delegations to go overseas to attract foreign capital.
The plan underscores the need for more diversified and innovative foreign trade strategies. It supports the establishment of bulk commodity trading centers, global distribution hubs, and international logistics centers in qualified development zones.
State-level development zones will serve as open platforms and promote international collaboration under the frameworks of multilateral and bilateral initiatives and agreements, particularly in areas such as green development, the digital economy, and the marine economy, according to the work plan.
China to boost high-quality development in economic, technological development zones
China to boost high-quality development in economic, technological development zones
