40 years on

China Daily - - PAGE TWO -

Edi­tor’s Note: This year marks the 40th an­niver­sary of China’s re­form and open­ing-up pol­icy.

On April 18, 1990, the Cen­tral Com­mit­tee of the Com­mu­nist Party of China and the State Coun­cil an­nounced the open­ing-up of Pudong, which is now the Pudong New Area, as seen in the item from China Daily (right).

To­day marks its 28th anni- ver­sary. The area has risen from ru­ral farm­land to be­come an en­gine for eco­nomic and so­cial de­vel­op­ment in the city and the na­tion.

Dur­ing the past decades, with the area’s sky­line chang­ing rapidly, Pudong, on the east bank of the Huangpu River, has be­come an in­ter­na­tional fi­nan­cial, ship­ping and trad­ing cen­ter for Shang­hai and China. It has been trans­formed into an out­ward-look­ing and mod­ern ur­ban district with mul­ti­ple func­tions.

Pudong New Area is a sym­bol of China’s re­form and open­ing-up.

Com­pared with

1990, the GDP in Pudong has risen from 6 bil­lion yuan to 965.1 bil­lion yuan ($153.7 bil­lion) last year. This year, the num­ber is ex­pected to ex­ceed 1 tril­lion yuan.

From Jan­uary to June last year, the vol­ume of im­ports and ex­ports pass­ing through Pudong reached 943 bil­lion yuan, up 20 per­cent year-onyear.

In Septem­ber 2013, the China (Shang­hai) Pilot Free Trade Zone, the first of its kind, was es­tab­lished in Pudong. It is an ex­per­i­men­tal field for re­forms in the fi­nan­cial sec­tor and other sec­tors.

In 2016, the FTZ pro­duced 75 per­cent of GDP for Pudong New Area.

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