The Chinese mainland has kicked off a two-year pilot program to reshape market-based allocation of production factors across ten strategic regions. Unveiled by the State Council Information Office, the initiative spans Beijing's municipal sub-center, major cities in southern Jiangsu Province, the Hangzhou–Ningbo–Wenzhou corridor, the Hefei metropolitan area, the Fuzhou–Xiamen–Quanzhou cluster, Zhengzhou, the Changsha–Zhuzhou–Xiangtan region, the nine mainland cities of the Guangdong–Hong Kong–Macao Greater Bay Area, Chongqing, and Chengdu.
Under the pilot's microscope are traditional factors such as land, labor, and capital, along with emerging resources like data, computing power, airspace, and spectrum. Li Chunlin, deputy head of the National Development and Reform Commission, notes that each region will focus on specific factor areas tailored to local conditions.
The program aims to accelerate technology commercialization, boost efficient land use, and enhance talent mobility. It also seeks to streamline data utilization, channel more capital into the real economy, and introduce market-driven mechanisms for environmental and resource factors.
Yun Donglai from the Ministry of Human Resources and Social Security highlights a push for high-quality job creation, expanded service supply, improved labor-market conditions, and strengthened vocational skills to unleash workforce potential.
Wang Xin of the People's Bank of China's Research Bureau says financial standards, statistics, and information disclosure will be upgraded to smooth capital flows, support regional financial reforms, and manage risks.
Data takes center stage for the National Data Administration. Deputy director Yu Ying emphasizes unlocking public data value, fostering collaborative innovation, and establishing secure, orderly data circulation mechanisms—tools that could drive smart city solutions in Chengdu and AI manufacturing in Hefei.
As these ten regions rethink resource allocation, global entrepreneurs, tech enthusiasts, and young change-makers will be watching closely. If the pilot succeeds, it could redefine growth strategies in the Chinese mainland and offer a fresh blueprint for market-oriented reforms worldwide.
Reference(s):
cgtn.com
