On July 22, at the Shanghai Municipal Government’s press conference on “the promotion of high-level reform and opening up of the Pudong New Area, and the creation of a leading area for modernization,” Peng Yihao, deputy director of the Shanghai Development and Reform Commission, said that the Shanghai Pilot Free Trade Zone and Lingang will be promoted. The first step is to allow the new area to serve the role of a “test field.”The next step will focus on three aspects.
The first aspect is to reach a new level of opening. To further strengthen the open platform function, the Central Government proposes to take the lead in establishing a new open economic system in Pudong that is in line with internationally accepted rules and requires the Shanghai Pilot Free Trade Zone and Lingang Special Area to benchmark against the highest standards and highest levels. This involves implementing a greater degree of stress testing and take the lead in achieving breakthroughs in several key areas. It’s proposed to launch a pilot system-based opening in Pudong, centering on the establishment of a high international standard economic and trade systems, expanding the opening of the service industry, and developing digital trade, service trade, etc. There will also be further exploration and realization of the comprehensive expansion of the opening of elements to the opening of rules, regulations, management, standards, and other systems.
The second aspect is to try a new path for high-quality development. This involves further exertion of the agglomeration function of open industries, to continue to strengthen the construction of core functions such as finance, trade, shipping, and science and technology, to break through several key core technologies, to create numerous world-class industrial clusters, and to take the lead in realizing economic development quality changes, and efficiency changes. It also involves reform and leadership in building a strategic link between the central node of the domestic big cycle and the domestic and international double cycles, and better represent the country in participating in international economic cooperation and competition.
The third aspect is to try a new level of modern governance. The new area will further create a world-class business environment. It will build a governance system that integrates economic governance, social governance, and urban governance as well as organic connections. It will continuously optimize and improve supervision during and after the event, firmly hold the important bottom line of risk prevention, and strive to provide more flexible management and better services.