3 July 2019
China Looks to Boost Development Zones Through Overseas Partnerships
In a bid to boost the country’s economic and technological development zones, while facilitating greater co-operation with potential overseas partners, the State Council has issued a new strategy document – Opinions on Promoting the Innovative Upgrade of National Economic and Technological Development Zones in Order to Optimise Future Reform and Opening-up.
Among the proposed measures are the following:
- Priority to be given to encouraging multinationals to establish their regional headquarters and research and development, finance, procurement, sales, logistics and settlement facilities within such designated mainland zones
- Local governments to be incentivised to restructure and optimise their equity in all such national economic and technological development zones, while also being encouraged to secure private capital and overseas investment
- A number of new international co-operation parks to be established within the existing network of national economic and technological development zones as a means of nurturing a substantial pool of high-level personnel and robust industrial chains. In line with this, businesses, non-commercial establishments and investors from Hong Kong, Macao and further abroad will be encouraged to participate fully in all such international co-operation parks
For further details (in Chinese), please access the following link: