Pilot broad reform plan for Pudong released

THE General Office of the Communist Party of China Central Committee and the General Office of the State Council have released an implementation plan for the pilot comprehensive reform of the Pudong New Area.

The plan, with a 20232027 timeframe, aims to support the high-level reform and opening up of the new area, as well as efforts to build Pudong into a leading area for socialist modernization.

According to the plan, Pudong will be provided with greater autonomy in reforms in “key areas” and “key links.” Support will be given to the new area to take the lead in improving systems and mechanisms in all aspects, accelerate the building of a high-level socialist market economic system, and improve governance system and capabilities, so that it will play a leading role in the nation’s efforts in building a modern socialist country in all respects and promoting Chinese modernization.

Qualified foreign talents

Pudong is granted authority to review and issue confirmation letters for qualified foreign talents to attract global talent. Qualified foreign talents can serve as legal representatives in specific areas. Foreign scientists with permanent residency in China can lead national science and technology projects and establish research institutions in Pudong.

Efforts include supporting key domestic universities to collaborate with foreign institutions in Pudong and enhancing services for residents. State-owned firms in Pudong are encouraged to bring in strategic investors. Eligible state-owned science and technology enterprises are urged to implement equity and dividend incentives.

By the end of 2027, Pudong aims to establish a highstandard market system and a high-level open market mechanism.