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Comprehensive Reform in Pudong New District

Issuing Date: 2014-08-07   Author:Editor of site   Source: 2013 White Paper On Environment for Foreign Investment in Shanghai   Views:

 

 

Comprehensive Reform in Pudong New District

 

Pudong New District is token of China’s reform and opening up and miniature of Shanghai’s modernization as well as the core functional region for Shanghai’s “four center” initiative.

 

In the “12th Five Year”, Pudong New District is actively moving forward comprehensive, more aware of responsibilities and missions, centered on improving socialist market economy, implementing government, market and social reforms, promoting reform with wider openness, adopting demand-oriented, problem-oriented, and project based approaches, identifying critical breakthroughs, and strengthening efforts to achieve “breakthrough in Pudong, applicable to Shanghai, replicable to China” in terms of social involvement and democracy in legal environment, diversified culture, and public policy, restriction on administrative power, government’s transparency, social credibility, HR environment, capital mobility, and public services.

 

Foreign investment in Pudong New District

Pudong’s comprehensive reform has boosted the foreign investment in the district.

 

Up to the end of 2012, there were over 20,000 foreign-invested projects with total contracted foreign capital of USD 70 billion and paid-in foreign capital of USD 48 billion. 308 global 500 companies have invested 1,023 projects in Pudong.

 

 

Pudong will implement the principles of the 18th Party Congress, comply decisions and deployment of the city government, seek its position and responsibility in deepening reforms and opening up, play its role in innovation-driven and transformational development, take the change of “second leap”, move forward comprehensive reforms with higher standards and greater vision, and offer more experiences in the practices of optimizing government services, expanding reform, attracting talents, and balancing urban and rural development.

 

Main progress of Pudong’s comprehensive reform in 2012

 

2012 is the critical year for Shanghai’s innovation-driven and transformational development and the critical year in third three-year action plan of Pudong’s comprehensive reform. Under the leadership and instruction of CPC Shanghai Committee and the city government, Pudong’s comprehensive reform follows “three musts” of the State Council, strategizes on “three guides”, takes the advantage of city-ministry cooperation, focuses on priority tasks, and move forward progressively. The reform has achieved positive progress throughout the year.

 

Expand openness and improve resource allocation

 

Achieve breakthrough in attracting human resources and promoting entrepreneurship

Streamline government functions and innovate administrative approaches

 

Explore new practices in optimizing public services and stimulating social involvement

 

Innovative approaches in attracting foreign investment

 

Extend sectors open for foreign investment

In 2012, taking the advantage of comprehensive reform, Pudong New District worked together with Shanghai Commission of Commerce and Shanghai Administration of Industry and Commerce and Launched “Temporary Regulation on the Establishment of Commercial Factoring Companies in Pudong New District of Shanghai” in December 2012 according to the “Notice on Pilot Test of Commercial Factoring” and the “Reply of Pilot Test Plan of Commercial Factoring”. The pilot opening of commercial factoring is instrumental to structure of domestic and foreign investment, connection between domestic and foreign trade, and transformation and upgrade of economy in the district and contributes to Shanghai’s “four center” endeavors.

 

Increase regional responsible competitiveness

Up to 2012,312 companies have passed the social responsibility assessment and one third of them are foreign-invested companies. Pudong has compiled “Responsible competitiveness: the Fourth Trend-Innovation of Social Responsibility of Companies in Pudong New District”. Pudong Commission of Commerce and WTO Guide of Ministry of Commerce jointly launched “Responsible Competitiveness Index”, the first of its kind in China.

 

Optimize environment for foreign investment

Pudong New District has strengthened supports to corporate headquarters in 2012. To further improve business environment for Headquarter Economy, and close the gap with international cities like Singapore and Hong Kong in terms of global resources allocation capability, service functions, and business environment, effectively address difficulties and hurdles in RHQ operation, and create a more accommodating environment, Pudong New District has been the first one to establish Headquarter Economy Shared Service Center, and promote integrated service system with government guidance and participation of all stakeholders.

To implement the “Opinion on Promoting the Development of Multinational’s Regional Headquarters” jointly issued by Pudong New District, Customs, Inspection & Quarantine, Foreign Exchange, and Entry-Exist Authorities, Shanghai Customs, Shanghai Entry-Exit Inspection & Quarantine Administration, Shanghai Administration of Industry and Commerce Pudong Branch, Shanghai International Traveler’s Health Center and Entry-Exit Service Office of Pudong Public Security Bureau jointly enabled 14 detailed policies.

 

Priority tasks of Pudong’s comprehensive reform in the future

 

The following five aspects are the priovity tasks: