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Headlines: China’s special economic zone ushers in new reform

2020-10-12 07:38:17 Xinhuanet.com

China unveiled a new comprehensive reform plan for Shenzhen to push high-quality development of the special economic zone and create a model city for a great modern socialist nation.

-- China on Sunday unveiled a new comprehensive reform plan for Shenzhen to push high-quality development of the special economic zone and create a model city for a great modern socialist country.

-- According to the plan, supporting Shenzhen in piloting the comprehensive authorized reform measures is another significant step to advance the city's opening-up in the new era and a key move in building a pilot demonstration area of socialism with Chinese characteristics.

-- Known as a paragon of opening-up and development, Shenzhen in Guangdong Province is one of China's earliest special economic zones.

China on Sunday unveiled a new comprehensive reform plan for Shenzhen to push high-quality development of the special economic zone and create a model city for a great modern socialist country.

The plan for 2020-2025, jointly issued by the general offices of the Communist Party of China Central Committee and the State Council, gives local authorities in Shenzhen a more direct and greater say in businesses, such as carrying out market-based economic reform, improving market and legal environments for global businesses, building a high-level open economy, providing service for people's livelihood, bettering the ecological environment, and urban space.

Facing the headwinds of anti-globalization, China is sending a strong signal that the country keeps firm on carrying out reform and opening up further to the outside world through the new reform, analysts said.

Known as a paragon of opening-up and development, Shenzhen in Guangdong Province is one of China's earliest special economic zones. Starting from a small town, it has developed into a key economic hub that surpasses Singapore in terms of gross domestic product (GDP). In 2019, Shenzhen's GDP topped 2.69 trillion yuan (about 396.8 billion U.S. dollars).

According to the plan, supporting Shenzhen in piloting the comprehensive authorized reform measures is another significant step to advance the city's opening-up in the new era and a key move in building a pilot demonstration area of socialism with Chinese characteristics.

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