New guide­lines help Liaon­ing’s cap­i­tal rein­vig­o­rate free trade zone

China Daily European Weekly - - Advertorial - By LIANG KAIYAN [email protected]­

Th e c i ty gov­ern­ment of Shenyang, in Liaon­ing prov­ince, is­sued guide­lines to help spur new de­vel­op­ment in the Shenyang Area of China (Liaon­ing) Pi­lot Free Trade Zone through sys­tem­atic in­no­va­tion last month.

The guide­lines are ex­pected to be put into ac­tion in Jan­uary 2019, cov­er­ing sec­tors such as in­sti­tu­tion man­age­ment, in­vest­ment, trade fa­cil­i­ta­tion, fi­nan­cial in­no­va­tion and risk con­trol, ac­cord­ing to Song Kunchi, deputy di­rec­tor of the le­gal af­fairs of­fice of the Shenyang city gov­ern­ment.

They also touch on other fields such as re­form of State- owned en­ter­prises, in­dus­trial up­grad­ing, tech­no­log­i­cal in­no­va­tion, pub­lic ser­vices and law en­force­ment.

The guide­lines es­tab­lish an in­no­va­tive man­age­ment sys­tem in a bid to op­ti­mize man­age­ment, to stream­line ad­min­is­tra­tion and del­e­gate pow­ers and to trans­form gov­ern­ment func­tions.

To pro­mote the zone’s trade fa­cil­i­ta­tion, the guide­line set reg­u­la­tions on man­age­ment meth­ods for such things as credit rat­ings and the reg­is­tra­tion of in­no­va­tive com­pa­nies.

In ad­di­tion, the guide­lines also mea­sure such cri­te­ria as ex­pert ad­vice, feed­back and eval­u­a­tion mech­a­nisms to pro­mote the zone’s estab­lish­ment of an in­ter­na­tion­al­ized, le­gal­ized and mar­ket-ori­ented busi­ness en­vi­ron­ment.

The guide­lines also es­tab­lish reg­u­la­tions that stip­u­late the re­form and in­dus­trial up­grad­ing of State-owned en­ter­prises.

The zone will pro­mote the mixed own­er­ship of State-owned en­ter­prises re­form and pi­lot em­ployee stock own­er­ship, while in­no­vat­ing and re­form­ing the salary dis­tri­bu­tion sys­tem in State-owned en­ter­prises through ex­per­i­men­tal prac­tices, Song said.

The guide­lines clar­ify the zone’s pri­mary tasks and pol­icy mea­sures in terms of in­vest­ment and trade fa­cil­i­ta­tion, fi­nan­cial in­no­va­tion, State- owned en­ter­prise re­form and in­dus­trial up­grad­ing, as well as sci­en­tific and tech­no­log­i­cal in­no­va­tion, uti­liz­ing the rule of law as a shield for in­no­va­tion.

Next, the zone will fur­ther deepen and fo­cus on in­sti­tu­tional in­no­va­tion and will give full play to the com­bined force of open­ing-up, re­form and in­no­va­tion un­der the guid­ance of leg­is­la­tion, while fur­ther strength­en­ing the in­te­gra­tion of re­form sys­tems to form more repli­ca­ble in­sti­tu­tional in­no­va­tion prac­tices, of­fi­cials said.

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