China to make Shenzhen a global city with competitiveness and innovation
China Knowledge Online
Aug 21, 2019

Aug 21, 2019 (China Knowledge) - China plans to support Shenzhen in building a demonstration pilot zone with more comprehensive development, under a guideline issued on Sunday by the Central Committee of the Communist Party of China and the State Council.

The guideline points out that it will make Shenzhen one of the top global cities in terms of its economy and R&D capabilities by 2025, and help better develop the Guangdong-Hong Kong-Macau Greater Bay Area. It is also planned that by 2035, Shenzhen will become a national model of developed global city recognized for center of innovation and entrepreneurship. By 2050, China hopes Shenzhen will serve as an example for all other cities in the world in terms of its economic competitiveness, influence and innovation capabilities.

Shenzhen’s economy has grown in importance to the country since it was approved as the first special economic zone in 1980. And over the past 40 years, Shenzhen has made great achievements and accumulated valuable experience, which has provided conditions for the construction of a pilot zone in Shenzhen.

The city in the south China’s Guangdong province is the country’s third-largest metropolis with a RMB 1.21 trln (USD 172.9 bln) GDP in the first half of 2019, after Shanghai and Beijing. Its economy expanded by 7.4% YoY in the first six months.

According to the document, the central government will support Shenzhen in building a more open and convenient environment with the introduction of foreign talent promotional campaigns, and granting contributors from overseas with permanent residency that set hi-tech enterprises in Shenzhen and serve as legal representatives.

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