China to promote high-quality development of national hi-tech zones

China is ready to roll out policies to deepen the reform and opening-up of national high-tech zones to boost high-quality development, the State Council’s executive meeting chaired by Premier Li Keqiang decided on Wednesday.

The meeting noted the exemplary and leading role of national high-tech zones, as important launchpads for promoting high quality development, in deepening reform and opening up.

“The vital role of national high-tech zones in underpinning innovation-driven development must be brought into full play. If we are to move China’s economy up the value chain and promote high-quality development, we must harness the magnetic effect of the high-tech zones,” Li said. 

Applicable policies tried and tested in pilot free trade zones and national innovation demonstration zones will be extended to national high-tech zones, where more pro-innovation policies will be piloted. Regulations on long-term multiple-entry visa and residence permit for overseas talent will be relaxed.

National high-tech zones will be further opened up. Diverse forms of cooperation will be encouraged between these zones and foreign counterparts.

National high-tech zones will be granted provincial or municipal administrative powers on economic matters.

Commercial banks will be encouraged to set up branches dedicated to science and technology sectors in the zones. Intellectual property pledge financing will be supported. Qualified developers of national high-tech zones may go public to raise funds.