BEIJING, Jan. 9 (Xinhua) -- Local authorities in China's Yangtze River Delta region have recently signed a memorandum of cooperation to jointly promote the market integration in the region, marking a step further towards the regional integration.
Under the memorandum, Shanghai, Jiangsu, Zhejiang, and Anhui will gradually realize unified market rules, credit governance, and market supervision under the guidance of the Ministry of Commerce (MOC) and the State Administration for Market Regulation, and jointly promote the integration of market systems in the Yangtze River Delta region.
In addition to the local action, the National Development and Reform Commission (NDRC) is now compiling a plan for integrated development of the Yangtze River Delta, representing the top-level design for the regional development.
Since the beginning of 2018, China has quickened the pace to promote the integration in the Yangtze River Delta region.
Apart from related policies to promote the integration, the provinces and city in the region have also made progress in the integration of industry, transportation and finance.
For example, on November 29, 2018, the country's first inter-provincial 5G video call was interconnected in Shanghai, Suzhou, Hangzhou and Hefei. The Yangtze River Delta took the lead in launching 5G network test and became the first batch of areas for commercial use of 5G in China.
In December, the NDRC approved a total of ten transit rail lines in Shanghai and Hangzhou, with the investment expected to exceed 350 billion yuan.
In terms of finance, the Yangtze River Delta Collaborative Advantageous Fund led by the Shanghai International Group was officially landed in Shanghai on December 29, 2018. The total size of the fund is 100 billion yuan, and it will raise 10 billion yuan in the first phase. The fund will focus on investment in competitive technologies in the region to advance the deep integration of the industry chains in the region. (Edited by Hu Pingchao, hupingchao@xinhua.org)
A single purchase
