China has announced ambitious reforms aimed at enhancing regional openness and accelerating economic growth across various parts of the country. Following the third plenary session of the 20th Communist Party of China (CPC) Central Committee, the reform document outlines a comprehensive strategy to optimize the regional opening layout.
The eastern coastal areas will continue to play a leading role, while significant efforts will be made to promote further opening in the central, western, and northeastern regions. These initiatives are part of China’s broader agenda to deepen reforms and advance modernization across the nation.
A key component of the reform is the strategy to upgrade pilot free trade zones and accelerate the development of the Hainan Free Trade Port. These zones are expected to become crucial hubs for international trade and investment, fostering a more dynamic and open economic environment.
In addition, the resolution emphasizes the consolidation and enhancement of Hong Kong's status as an international financial, shipping, and trade center. China aims to support Hong Kong and Macao in building themselves into international hubs for high-caliber talent, thereby playing a greater role in China’s opening to the global market.
The Greater Bay Area, encompassing Guangdong, Hong Kong, and Macao, will see increased cooperation through the alignment of rules and mechanisms. This collaboration is intended to create a more integrated and efficient economic powerhouse within the region.
Furthermore, the resolution highlights the importance of improving institutions and policies to promote economic and cultural exchanges across the Taiwan Strait. These efforts are aimed at advancing integrated cross-Strait development, fostering closer ties, and enhancing collaborative growth.
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China pledges to optimize opening up layout in reform resolution
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