China issues guideline on high-level reform, opening-up of Shanghai's Pudong

China on Thursday issued a guideline to support high-level reform and opening-up of the Pudong New Area in Shanghai.

The guideline was jointly released by the Communist Party of China Central Committee and the State Council, and listed measures to build Pudong into a pioneer area for socialist modernization.

By 2035, Pudong will see its modernized economy comprehensively established, modern urban districts built, and modernized governance fully realized. Its urban development level and international competitiveness will be at the forefront globally, said the guideline.

By 2050, Pudong is expected to become an important urban area which is highly attractive, creative, competitive and influential globally, a global model of urban governance and a "shining pearl" of a great modern socialist country, it said.

China will promote high-level reform and opening-up in Pudong to provide an important channel for making better use of domestic and international markets and resources, according to the guideline.

Pudong is positioned as a central node of the domestic circulation and a strategic link of China's new development paradigm of "dual circulation," and is expected to play a better role in leading and stimulating the integrated development of the Yangtze River Delta.

The area will be a pioneer in promoting higher-level reform and opening-up. It will expand openness from the factor level to the system level and take the lead in establishing a new system for an open economy that is compatible with prevailing international rules.

The country will build economic zones with special functions in Pudong and intensify risk tests on the open economy, said the guideline.

A core area for international technological innovation will also be built in Pudong to increase the capabilities regarding independent innovation, strengthen the leading role of high-end industries, and upgrade national industrial chains.

China will build international financial, trade and shipping centers in Shanghai through the active allocation of global capital, information, technology and human resources to shore up support for the real economy, and take the lead in setting up a system of high-standard international economic and trade regulations.

The guideline plans to support Pudong in leading the domestic consumption upgrade and the trend of consumption and constructing an international consumption center.

It also aims at making the area a model of modern urban governance with a more scientific, refined and intelligent administration.