China to upgrade national development zones

The State Council recently released a circular calling for further efforts to step up innovation and opening-up in national economic and technological development zones, in a bid to boost their international competitiveness and work for high-quality development.

The development of national economic and technological development zones should stick to innovation and opening-up, prioritize high-quality output, and remain market-oriented, the circular said.

A slew of approaches will be taken to beef up the open economy quality of the development zones, including diversifying ways of utilizing foreign investment and introducing multinational enterprises' regional headquarters, research and development centers, and finance departments. Improving the quality of foreign trades and supporting qualified development zones to establish comprehensive bonded areas also are among the plans.