China Announces Push for High-Quality Development in National Development Zones

BEIJING, May 23 (Xinhua) -- China's Ministry of Commerce has unveiled a comprehensive work plan aimed at enhancing reform and innovation within the country's state-level economic and technological development zones. These zones are viewed as crucial to achieving high-quality development through a high-standard opening-up strategy.
This initiative highlights the significance of these development zones in propelling China's overall reform and opening-up efforts. The work plan underscores that these zones should serve as trailblazers in reform, with a focus on improving institutional frameworks and mechanisms that facilitate high-standard international engagement.
A key aspect of the plan involves prioritizing foreign-funded projects within sectors like integrated circuits, biomedicine, and advanced equipment manufacturing for inclusion in a list of major foreign investment projects. This focus aims to enhance the quality and efficiency of foreign investment in these critical areas.
Moreover, the plan encourages development zones to strengthen their relationships with leading global investors and financial institutions. To this end, it promotes the use of trade promotion platforms and calls for the organization of overseas delegations to attract foreign capital investment.
In addition to facilitating foreign investment, the plan emphasizes the importance of diversifying foreign trade strategies. It supports the establishment of specialized trading centers for bulk commodities, global distribution hubs, and international logistics centers within qualified development zones.
The plan further identifies these zones as open platforms for international cooperation, urging them to foster collaboration under multilateral and bilateral frameworks. This is particularly pertinent in sectors like green development, the digital economy, and the marine economy, reflecting China’s commitment to sustainable and innovative growth.
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