New Policies Help Shenzhen Develop

China’s top economic regulator, the National Development and Reform Commission. Said Wednesday that the southern Chinese metropolis of Shenzhen will enjoy a number of policies conducive to advancing reforms.

The guidance notes that measures including loosening market access for cross-border data businesses and establishing. An electronic trading platform implemented in Shenzhen.

The National Development and Reform Commission stated that Shenzhen will establish a pilot demonstration zone for socialism with Chinese characteristics. Promote comprehensive reform pilots, relax market access, and create an international business environment that is market-oriented and ruled by law.

Shenzhen will promote the construction of the Guangdong-Hong Kong-Macao Greater Bay Area by promoting reforms and promoting a higher level of opening up.

The document clarifies that Shenzhen encouraged to promote reforms in fields such as technology. Finance, data, medicine and health, and elderly care education.

Xu Shanchang, an official with the National Development and Reform Commission. Said at a news conference that the city encouraged to foster technological and industrial innovation development zones with global influence.

Ease market access for data transactions and cross-border data businesses. When the conditions are right, research to build a platform for this will be carried out, he said.

Encourage the city to build a global advanced technology application and promotion center. However, eliminate market and information barriers that hinder industrial development and the flow of innovative elements. Furthermore, and promote the development of key industries in Shenzhen and other regions.

On the financial front, the city will be able to develop trading products and offshore trading platforms related to RMB settlement. The overall financial capacity to support the agricultural supply chain will enhance.

Xu said that financial institutions encouraged to cooperate with major agricultural product suppliers to carry out supply chain finance. However, to alleviate the financing difficulties faced by small and micro enterprises in the supply chain.

For industrial development, Shenzhen will build a global trading platform for electronic components and integrated circuits. Support will be provided in the areas of customs clearance and other logistical matters.

Xu also said the new policy will seek to improve the market environment for some new formats, such as e-commerce through live streaming and online games, which will ensure the rapid development of high-quality new industries in Shenzhen.

Zhao Chenxin, secretary-general of the National Development and Reform Commission, said at a press conference that a number of measures formulated to provide convenience and protection for industries that are about to relax market access.

In the context of the current challenges faced by upstream and downstream enterprises, provide financial and institutional support to key industries with easier market access. The goal is to create a favorable development environment for key industries so that market players can benefit from the actual benefits brought about by the new policy.

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