1706426527
After Shanghai’s economic growth failed to reach the target for two consecutive years, Mayor Gong Zheng openly said that achieving the growth target this year will require very arduous efforts. “We have to make one or even two jumps.”
Gong Zheng pointed out at a press conference after the Municipal People’s Congress meeting on Saturday (Jan 27) that the city’s expected economic growth target for this year is about 5%. He said: “We remain confident and confident of achieving this goal.”
Shanghai’s gross domestic product (GDP) grew 5% last year, falling short of expectations of more than 5.5%. It was also the second consecutive year that the economic growth rate fell short of target since the impact of the city’s lockdown in 2022. This shows that China’s financial center has not yet fully recovered from the economic crisis. Recovery from the economic downturn caused by the epidemic.
Gong Zheng said that achieving the above goals requires very arduous efforts, and we need to make one or even two leaps; This year, we would focus on three aspects, including accelerating the construction of the “five centers”, deepening reform and opening-up, etc. balancing supply and demand. Joint efforts on both sides.
He further said that deepening reform and opening-up should be an important step to better utilize the advantages of overlapping important national strategic tasks. Promote breakthrough reforms and leading opening-up, accelerate the formation of internationally competitive policies and institutional systems, continue to create a market-oriented, legal and international first-class business environment, stimulate enterprise vitality and strengthen economic development.
The “major strategic tasks” adopted by Shanghai include the 80 measures introduced last month to promote the opening of the Shanghai Pilot Free Trade Zone at a high institutional level and the comprehensive one announced on Monday (Jan 22). Pudong Reform Pilot Implementation Plan.
Gong Zheng explained that the Shanghai Free Trade Zone had two main tasks: on the one hand, the system should be tested for the country, and on the other hand, new paths for reform and opening-up should be explored. “Which clauses of CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership) and DEPA (Digital Economy Partnership Agreement) can we fully accept? Measures to prevent them? Shanghai needs to carry out a comprehensive experimental system.”
Speaking about Pudong’s comprehensive reform plan, Gong Zheng said that the next step will be to target key areas with prerequisites for initial breakthroughs and push forward the implementation of the pilot plan as quickly as possible. This includes examining temporary practice licenses for foreign skilled workers, accelerating the implementation of cross-border financing facilities for companies, promoting mutual financial opening and achieving substantial results in cross-border data flow, etc.
In the nearly two-hour press conference, Gong Zheng mentioned the “opening” more than 30 times. When answering Lianhe Zaobao’s question about financial openness, he emphasized that openness is one of Shanghai’s greatest advantages. By the end of last year, the total number of licensed financial institutions in Shanghai reached 1,771, with foreign financial institutions accounting for more than 30%. Shanghai has become a pioneer in the financial opening of mainland China.
Gong Zheng said Shanghai will resort to Pudong, Lingang New Area and other areas this year to conduct major financial stress tests, build an international financial asset trading platform and launch innovative pilot projects in cross-border financing, offshore financing and other areas support financially . In addition, Shanghai will also actively develop internationally-oriented financial products, improve cross-border investment and financing facilitation, increase financial support for the joint construction of the Belt and Road, and attract more foreign financial institutions and long-term capital to Shanghai to develop enterprises.
He announced that Shanghai will implement a new round of business environment reform this year, initially 150 reform measures, and will continue to make efforts to lower invisible thresholds, reduce operating costs and reduce corporate turnover.
For more new information, please visit our official Facebook page
#Shanghai #Mayor #Gong #Zheng #achieve #growth #target #year #leaps #Lianhe #Zaobao