Har­ness role of high-tech zones, says Li

State Coun­cil ex­ec­u­tive meet­ing backs mea­sures to boost re­form, open­ing-up

China Daily (Hong Kong) - - TOP NEWS - By ZHANG YUE zhangyue@chi­nadaily.com.cn

China is ready to roll out poli­cies to ad­vance the re­form and open­ing-up of Na­tional High-Tech In­dus­trial Developmen­t Zones to boost high­qual­ity developmen­t, the State Coun­cil’s ex­ec­u­tive meet­ing chaired by Premier Li Ke­qiang de­cided on Wed­nes­day.

“The vi­tal role of Na­tional High­Tech In­dus­trial Developmen­t Zones in un­der­pin­ning in­no­va­tion-driven developmen­t must be brought into full play. If we are to move China’s econ­omy up the value chain and pro­mote high-qual­ity developmen­t, we must har­ness the magnetic ef­fect of the high-tech zones, and bring out their po­ten­tial and strength,” Li said.

The meet­ing noted the ex­em­plary and lead­ing role of the zones as im­por­tant launch­pads for pro­mot­ing high-qual­ity developmen­t in deep­en­ing re­form and open­ing-up. They also help spur en­trepreneur­ship and in­no­va­tion and cre­ate jobs for col­lege grad­u­ates.

Ap­pli­ca­ble poli­cies tried and tested in Pi­lot Free Trade Zones, which are in re­la­tion to for­eign in­vest­ment and in­ter­na­tional trade in both goods and ser­vices, and Na­tional In­no­va­tion Demon­stra­tion Zones, which mostly fo­cus on in­no­va­tive en­ti­ties and cre­ate in­no­va­tion hubs, will be ex­tended to Na­tional High­Tech In­dus­trial Developmen­t Zones, where more pro-in­no­va­tion poli­cies will be piloted. Reg­u­la­tions on longterm mul­ti­ple-en­try visas and res­i­dence per­mits for over­seas tal­ent will be re­laxed.

“The key in bring­ing out the ad­van­tages of these zones is re­form and open­ing-up. Un­jus­ti­fied re­straints shall be re­moved. The govern­ment shall do its best in mak­ing a dif­fer­ence where breakthrou­ghs and new steps are pos­si­ble, to boost mar­ket con­fi­dence,” Li said.

Na­tional High-Tech In­dus­trial Developmen­t Zones will be fur­ther opened up. Di­verse forms of co­op­er­a­tion will be en­cour­aged be­tween these zones and for­eign coun­ter­parts, to bet­ter in­te­grate them into in­ter­na­tional in­dus­trial and sup­ply chains.

Such zones will be granted pro­vin­cial or mu­nic­i­pal ad­min­is­tra­tive pow­ers on eco­nomic mat­ters.

Com­mer­cial banks will be en­cour­aged to set up branches ded­i­cated to science and tech­nol­ogy sec­tors in Na­tional High-Tech In­dus­trial Developmen­t Zones. In­tel­lec­tual prop­erty pledge fi­nanc­ing will be sup­ported.

With 30-plus years of developmen­t, the zones have grown into pace­set­ters in terms of in­no­va­tion, in­dus­try and tal­ent in the coun­try’s eco­nomic and re­gional developmen­t. They have ef­fec­tively con­trib­uted to the shift of the growth model, struc­tural up­grad­ing and in­ter­na­tional com­pet­i­tive­ness. In 2019, the 169 Na­tional High-Tech In­dus­trial Developmen­t Zones in China cre­ated 12.2 tril­lion yuan ($1.73 tril­lion) in out­put, and their ex­port volume reached 3.8 tril­lion yuan, ac­count­ing for 12.3 per­cent of China’s GDP and 22.05 per­cent of the coun­try’s ex­ports.

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