Mayor spells out plans for 2nd half
Print Edition
SHANGHAI Mayor Yang Xiong said yesterday that the expanded pilot free trade zones offer both opportunities and challenges and that the city will focus on institutional innovation in administration, investment management, supervision, financial reform and law enforcement in the second half of this year.
Yang was speaking at a meeting of the Shanghai People’s Congress yesterday.
“We have largely accomplished the targeted mission for the pilot free trade zone in the first six months with smooth expansion and a reshuffle of the management framework,” Yang told the city’s lawmakers. “We will continue to accelerate institutional innovation in the zone during the rest of the year, and try to offer more policies feasible to be copied elsewhere.”
The China (Shanghai) Pilot Free Trade Zone now covers an area of 120.72 square kilometers, up from the original 28.78 square kilometers. Similar zones have been established in Guangdong and Fujian provinces and Tianjin.
“They offer both opportunities and challenges,” Yang said. “Shanghai should make the best use of being the pioneer, and faster in pushing forward various reforms,” he said.
In the second half, the city will make efforts to adapt itself to the new management mechanism, which has been in operation since April, to match the expanded coverage of the FTZ. The city will also improve the negative list and make it simpler for companies to operate within the pilot area.
The reforms to achieve full convertibility of the yuan and further opening of the financial market will be accelerated, Yang said.
The construction of a global science and innovation center will be another priority in the second half. “The core is the implementation of the supportive policies mapped out in May to attract talented people and invite innovation,” he said.
Other key works on the city government’s agenda include the improvement of the health care services for the senior citizens and better management of residential communities.
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