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Policy

China issues new round of policies to boost regional economic development

November 21, 2018


Abstract : China has issued policies to support the development of regional economies, with priorities given to key regions such as the Yangtze River Delta region, Beijing-Tianjin-Hebei area and Guangdong–Hong Kong–Macau Greater Bay Area.

粤港澳大湾区

BEIJING, Nov. 21 (Xinhua) -- China's National Development and Reform Commission (NDRC) and several other government bodies recently have issued policies in succession to support the development of regional economies, with priorities given to key regions such as the Yangtze River Delta region, Beijing-Tianjin-Hebei area and Guangdong–Hong Kong–Macau Greater Bay Area.

Xinhua-run Economic Information Daily quoted Meng Wei, NDRC spokesperson as saying that China is actively preparing to accelerate the integration of the Yangtze River Delta.

In the future, China will build the Greater Bay Area into an international science and technology innovation center, said Meng.

Meng added that policies concerning the construction of Greater Bay Area will focus on strengthening the transportation connectivity, promoting the infrastructure interconnection and further enhancing the level of market integration between Chinese mainland and Hong Kong and Macao.

To achieve these, the NDRC will explore more convenient and efficient supervision modes,  the spokesman said. 

In addition, the NDRC recently released development plans for Han River Ecological Economic Belt and Huaihe River Ecological Economic Belt, which set the development goals for tens of cities along the Han River and the Huaihe River by 2035.

This new round of regional economic development policies specially stressed on further improving the key regions' capability to drive the development in surrounding areas. For example, the development of the Greater Bay Area is planned to give full play of the advantages of cities in Pearl River Delta economic zone, such as the Qianhai Bay area of Shenzhen and the Hengqin area of Zhuhai to expand the space for economic cooperation and development.

Experts pointed out that China is more precise and specific in promoting regional economic development, paying more attention to the coordinated development of cross-administrative regions and large regions, and stressing allocation of resources in a wider scope. (Edited by Li Wenxin, Yang Qi, liwenxin@xinhua.org)

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Keyword: Yangtze-River-Delta regional-development Greater-Bay-Area

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