The State Council issued the Proposal to Further Deepen the Reform and Openness of the China (Guangdong) Free Trade pilot area, Proposal to Further Deepen the Reform and Openness of the China (Tianjin) Free Trade pilot area, and Proposal to Further Deepen the Reform and Openness of the China (Fujian) Free Trade pilot area.
Building Free Trade pilot area is a strategic move by the Party Central Committee and the State Council to comprehensively deepen reforms and expand opening-up amid the new reality. Since the operation of the Guangdong, Tianjin, and Fujian Free Trade pilot area, these provinces have tapped their grow potentials in different ways in light of the national initiative and the local conditions. As a result, a host of reform and innovative achievements that can be replicated in other places have been scored. Reform and pilot experiences, such as the international trade’s “Single Window”, enterprise exclusive webpage government new service model, market supervision system based on credit risk classification, “Four Ones” in investment management system reform, and simplified deregistration of enterprises, have been promoted in other provinces. In summary, China is benefiting from the Reform and Opening-up, and the expected goal has been reached as a whole.
The Guangdong Free Trade pilot area is centered on building a prioritized area of the new open economic system, a high-level opening hub and a Guangdong-Hong Kong-Macao Greater Bay Area Cooperative Demonstration Zone. As a result, 18 specific measures have been proposed including building a fair and honest legal environment and a demonstration window for the opening of the financial industry, and further deepening liberalization of service and trade in the Guangdong-Hong Kong-Macao Greater Bay Area. The Tianjin Free Trade pilot area is centered on establishing the new open economic system, creating new advantages in international competition, and building the Beijing-Tianjin-Hebei Demonstration Zone featuring Coordinated Development. As a result, 16 specific measures have been proposed including innovating arrangement mechanism for factor markets, driving the gestation of emerging technologies and improving coordinated development mechanism of service. The Tianjin Free Trade pilot area is centered on further improving government governance, deepening cross-strait economic cooperation, and accelerating the construction of the core area of the 21st Century Maritime Silk Road. As a result, 21 specific measures have been proposed, including creating a high standard of international business environment, promoting the standardization and transparency of government services and strengthening financial cooperation between Fujian and Taiwan.
As emphasized in the proposal, Guangdong, Tianjin, and Fujian should muster the strength to implement national initiatives, find a bigger sense of mission, perfect work mechanism, make full use of the advantages regions have to offer and promote the pilot reform in a systematic manner. They shall also evaluate the effectiveness of the pilot reform in a timely manner, strengthen the integration of the reform system, and strive to score more system innovation achievements that can be replicated in other provinces. This is how the three provinces can better serve the Reform and Opening-up of China in a broader sense.
Building Free Trade pilot area is a strategic move by the Party Central Committee and the State Council to comprehensively deepen reforms and expand opening-up amid the new reality. Since the operation of the Guangdong, Tianjin, and Fujian Free Trade pilot area, these provinces have tapped their grow potentials in different ways in light of the national initiative and the local conditions. As a result, a host of reform and innovative achievements that can be replicated in other places have been scored. Reform and pilot experiences, such as the international trade’s “Single Window”, enterprise exclusive webpage government new service model, market supervision system based on credit risk classification, “Four Ones” in investment management system reform, and simplified deregistration of enterprises, have been promoted in other provinces. In summary, China is benefiting from the Reform and Opening-up, and the expected goal has been reached as a whole.
The Guangdong Free Trade pilot area is centered on building a prioritized area of the new open economic system, a high-level opening hub and a Guangdong-Hong Kong-Macao Greater Bay Area Cooperative Demonstration Zone. As a result, 18 specific measures have been proposed including building a fair and honest legal environment and a demonstration window for the opening of the financial industry, and further deepening liberalization of service and trade in the Guangdong-Hong Kong-Macao Greater Bay Area. The Tianjin Free Trade pilot area is centered on establishing the new open economic system, creating new advantages in international competition, and building the Beijing-Tianjin-Hebei Demonstration Zone featuring Coordinated Development. As a result, 16 specific measures have been proposed including innovating arrangement mechanism for factor markets, driving the gestation of emerging technologies and improving coordinated development mechanism of service. The Tianjin Free Trade pilot area is centered on further improving government governance, deepening cross-strait economic cooperation, and accelerating the construction of the core area of the 21st Century Maritime Silk Road. As a result, 21 specific measures have been proposed, including creating a high standard of international business environment, promoting the standardization and transparency of government services and strengthening financial cooperation between Fujian and Taiwan.
As emphasized in the proposal, Guangdong, Tianjin, and Fujian should muster the strength to implement national initiatives, find a bigger sense of mission, perfect work mechanism, make full use of the advantages regions have to offer and promote the pilot reform in a systematic manner. They shall also evaluate the effectiveness of the pilot reform in a timely manner, strengthen the integration of the reform system, and strive to score more system innovation achievements that can be replicated in other provinces. This is how the three provinces can better serve the Reform and Opening-up of China in a broader sense.