The following “Opinions,” made public by the Communist Party in July 2021, outline new policies for Pudong New District in Shanghai, long a trendsetter in Chinese economic reform. The document introduces several new measures to liberalize Shanghai’s capital market, including the STAR Market, where many Chinese AI companies are listed. The “Opinions” also strengthen Shanghai’s university- and research laboratory-based technology transfer agencies and call for aggressive recruitment of overseas tech talent.
The Chinese source text is available online at: http://www.xinhuanet.com/2021-07/15/c_1127659292.htm
An archived version of the Chinese source text is available online at: https://perma.cc/L584-BCJE
Opinions of the CCP Central Committee and the State Council on Supporting High-Quality Reform and Opening Up in Pudong New District and Making it into a Leading Area for Socialist Modernization Construction
(April 23, 2021)
Shanghai holds a very important position in the overall work of the Party and the state, and the development and opening up of Pudong has opened a new chapter in the deepening of China’s reform and opening up. Since the 18th Party Congress, under the strong leadership of the Party Central Committee with Comrade Xi Jinping as the core, Pudong has made development achievements that have attracted worldwide attention. It provides the liveliest proof of the reality of the advantages of the system of socialism with Chinese characteristics and the most vivid practical portrayal of reform and opening up and socialist modernization. On the new journey of building China into a modernized socialist country in an all-round way, in order to support Pudong New District’s high level of reform and opening up and its creation of a leading area (引领区) for socialist modernization, lead and drive the construction of Shanghai’s “Five Centers” (“五个中心”), and better serve the overall situation of the country and drive the implementation of the Yangtze River Delta Integrated Development Strategy, we hereby put forth the following opinions.
I. Overall Requirements
(i) Guiding ideology: Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, we will thoroughly implement the spirit of the 19th Party Congress and the Second, Third, Fourth, and Fifth Plenums of the 19th Central Committee, adhere to the general work tone of the work of seeking progress while maintaining stability (稳中求进), scientifically grasp the new stage of development (新发展阶段), unswervingly implement the new development concept (新发展理念), serve and integrate into the new development pattern (新发展格局), support Pudong in taking on the heaviest burdens and tackling the hardest problems (啃最硬的骨头), and strive to become a pioneer of higher-level reform and opening up, a pioneer in building a modern socialist country in an all-round way, and a practical example that demonstrates the “four confidences,”1 and better exemplify Chinese concepts, the Chinese spirit, and the Chinese path.
(ii) Strategic positioning: We will promote Pudong’s high-level reform and opening up, provide an important channel for the improved use of domestic and international resources, and build a central node in domestic great circulation (国内大循环) and a strategic link between domestic and international dual circulation (国内国际双循环). In Yangtze River Delta integrated development, we will let Pudong better play its leading and radiating role and create a window for building China into a modernized socialist country in an all-round way.
- A pioneer of higher-level reform and opening up. We will adhere to systemic concepts, strengthen the organic linkage and integration of reform measures, and promote various reforms to bring us closer to a more complete system. Developing from the opening up of factors of production (要素) to the opening up of systems, we will be the first to establish a new open (开放型) economic system that is aligned with internationally accepted rules. We will create special economic functional areas (功能区) throughout the Pudong region and increase stress testing of the risks of an open economy.
- A benchmark of the times for independent innovation (自主创新) and development. We will give full play to the institutional advantages of the new structure for leveraging national capabilities (新型举国体制) and the advantages of ultra-large-scale markets, identify focal points for the government and the market in promoting scientific and technological (S&T) innovation and elevating the level of production chains, build the core area of an international S&T innovation center, enhance independent innovation capabilities, strengthen the leading function of high-end industries, drive the upgrading of national production chains, and enhance global influence.
- A functional high ground of global resource allocation. Taking serving the co-construction (共建) of the “Belt and Road”2 as an entry point and breakthrough point, we will actively allocate global capital, information, technology, talent, and other essential resources, build the core areas of Shanghai’s international financial center, trade center, and shipping center, strengthen its ability to serve the real economy, take the lead in building a high-standard internationalized system of economic and trade rules, and build up a functional high ground (功能高地) where China is deeply integrated into global economic development and governance.
- An exemplar in expanding domestic demand. We will work hard to create supplies of high-quality products and services, continuously improve the level of professionalism, branding, and internationalization, cultivate new consumption models and new industrial formats, lead and drive the demand for domestic consumption upgrades, create a starting point for new products oriented to the global market and a weathervane to direct consumption trends, and build an international consumption center.
- A demonstration model of modern urban governance. We will build a comprehensive urban governance system with scientific standards and effective operations, raise the level of scientific, refined (精细化), and intelligentized (智能化) governance, increase response capabilities for major sudden incidents (突发事件), improve the development pattern of the people’s livelihoods, carry on the city’s unique culture, and create a model of urban governance that is friendly to both residents and businesses.
(iii) Development goals: By 2035, Pudong’s modernized economic system will be fully constructed, its modernized urban area will be fully completed, its modernized governance will be fully realized, and the city’s level of development energy (发展能级) and international competitiveness will be among the best in the world. By 2050, Pudong will become an important vehicle for a city with strong appeal, creativity, competitiveness, and influence in the world, a global model of urban governance capacity and governance effectiveness, and the shining pearl of a modernized socialist world power (现代化社会主义强国).
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- Translator’s note: The “four confidences” (“四个自信”) are: Confidence in the (1) path, (2) theory, (3) system, and (4) culture of socialism with Chinese characteristics (中国特色社会主义道路自信、理论自信、制度自信、文化自信).
- Translator’s note: The “Belt and Road” (“一带一路”) refers to the Silk Road Economic Belt (丝绸之路经济带) and the 21st Century Maritime Silk Road (21世纪海上丝绸之路).