Pudong pushing for higher-level reform and opening-up

Shanghai's Pudong New Area has been propelling a higher level of opening-up and institutional innovation in terms of rules, regulations, management and standards, following its selection by the central government last year to be a pilot area for socialist modernization.

Over the past year, all aspects of work have been steadily progressing, with 370 of the specified 450 tasks having been accomplished.

For example, a number of tertiary industry opening-up projects came into being, helping Shanghai become an international resource allocation center. The projects included the first "Offshore Connection" platform in the country's first free trade zone, the first Chinese foreign joint venture natural gas trading company, the first foreign-owned joint venture commercial finance company and the first foreign-funded financial technology company.

Heavyweight international organizations, such as the International Chamber of Commerce, the Climate Bonds Initiative and the TIC Council, have opened their Shanghai offices in Pudong.

Behind the achievements is the unswerving direction of progress – even in the face of risks and challenges, sometimes even when "the wind is high and the waves are fierce."

Pudong spares no effort to explore ways to put the new development concepts into practice, making the area the central node of domestic circulation and the strategic link of domestic and international dual circulation, in a bid to sharpen China's advantages in international cooperation and competition.

Pudong also tends to cultivate strong potential for regional development while shouldering the mission to help drive the high-quality development of Shanghai, the Yangtze River Delta region and the Yangtze River Economic Belt.

It works hard to set a demonstration model for improving the overall efficiency of China's economy. It aims to become a "window" to socialist modernization and an interpreter of "Chinese concept, Chinese spirit and China road."