Shanghai issues guideline for next stage of Lingang development

Shanghai government issued a guideline for the next stage of development of Lingang on Wednesday, two days ahead of the second anniversary of this special area of the China (Shanghai) Pilot Free Trade Zone.

With a total of 40 policies, the guideline requires Lingang to carry out institutional innovation in specific fields to upgrade the efficiency of regional administration, in particular, to deepen the reform of streamlining administration, delegating powers, while improving regulation and services.

Hence, Lingang will promote the institutional integration reform of administrative matters, deepen reform of the commercial system, and promote the registration and confirmation system of commercial subjects.

At the same time, the special area will improve its administrative system and mechanism, including optimizing regional administration, integrating Situan Town of Fengxian District into Lingang's industry city integration area, improving the cross regional affairs coordination mechanism, reforming the employment system, and strengthening the exchange of cadres.

Moreover, it will deepen the reform of state-owned assets and state-owned enterprises, support state-owned enterprises beneath the administrative committee of Lingang to explore the business model with capital operations as the core, and explore the establishment of a market-oriented salary mechanism in line with the characteristics of state-owned enterprises.

Also, Lingang will build an open industrial system and improve the scale and quality of its economy.

It will build a world-class cutting-edge industrial cluster, by developing the integrated circuits industry with the integration of the whole industrial chain, accelerating the development of biomedicine, creating an artificial intelligence innovation and application demonstration area, expanding the intelligent new-energy vehicle industry, deepening automatic driving test demonstrations, accelerating the construction of an international data port, improving the capacity of scientific and technological innovation strategies, and strengthening the protection of intellectual property rights.

The guideline also indicates that Lingang will develop new-type international trade and high-end international shipping, create a practice area for innovative development of offshore trade, promote the innovative development of service trade, strengthen the industrial function of Yangshan comprehensive bonded zone, and improve the functional level of its role as a global shipping hub.

Furthermore, Lingang will promote the innovative development of financial openness, improve the global resource allocation function, build an Asia-Pacific supply chain management center, strengthen financial reform and innovation, actively develop offshore yuan transactions, improve the level of financial services to the real economy, and study the construction of a science and technology insurance innovation demonstration area.

Apart from the measures in economic development, Lingang will also shoulder the mission to become a high ground to attract talent at home and abroad, a model of high-quality land use and construct a modern new town with improved urban functional level and core competitiveness.