Shanghai unveils priorities to advance Belt and Road Initiative in 2024

To promote the high-quality development of the Belt and Road Initiative in 2024, Shanghai will focus its efforts on the following nine aspects:

1. Deepen regional coordination and collaboration to synergize the integrated development of the Yangtze River Delta with the high-quality development of the BRI

(a) Expedite the establishment of the Belt and Road High-quality Development Promotion Association of the Yangtze River Delta. Support the global expansion of the YRD region's advantageous industries, quality equipment, applicable technologies, and standards, thereby enhancing the collaborative openness in the region to boost the high-quality development of the BRI.

(b) Continuously strengthen BRI information sharing and resource aggregation. Consolidate and enhance the functions of the Shanghai Belt and Road Comprehensive Service Center.

Continuously enrich the functions of the WeChat mini-program dedicated to providing information and services related to the BRI, known as Silk Road e-Together (丝路e启行).

2. Consolidate the foundation of cooperation and actively contribute to building the Belt and Road Connectivity Network

(a) Enhance the service capabilities of Shanghai Port and expedite the collaborative efforts with the YRD to establish a global shipping hub.

(b) Actively engage in the formulation of international maritime technical rules and standards, leading the transformation of shipping towards green, digital, and smart directions.

(c) Strengthen collaboration among Shanghai airports and other airports in the YRD in terms of functional positioning, planning and construction, operational management, ground transportation, and other aspects. This will continually enhance the coverage and accessibility of Air Silk Road routes.

(d) Strive to increase the routes and frequencies of Shanghai-Europe freight trains.

3. Actively integrate into the global economy and cultivate collaborative flagship brands

(a) Organize the seventh China International Import Expo effectively and encourage the participation of high-quality products and services from countries involved in the BRI.

(b) Accelerate the development of Silk Road E-commerce cooperation pilot zones, facilitating cultural exchanges, trade, and product exhibitions and sale. Utilize Shanghai's technological and engineering contracting advantages to support the construction of landmark projects and "small yet smart" initiatives.

(c) Foster the high-quality development of industrial Internet of Things service platforms, providing new impetus for economic cooperation within the BRI framework.

Facilitate trade and investment promotion agencies in hosting exhibitions in BRI countries, vigorously attracting enterprises from those countries to invest in Shanghai.

4. Continuously deepen pragmatic cooperation in the financial sector, offering stable, transparent, and high-quality financial backing for the BRI

(a) Continuously refine the renminbi clearing and settlement network to elevate the standard and quality of cross-border renminbi services for the BRI.

(b) Support financial institutions in Pudong New Area to explore opportunities for providing cross-border investment and financing, as well as other financial services, in line with international standards and practices. This aligns with Pudong's efforts to establish itself as a leading area, a pilot free trade zone, and to develop its Lin-gang Special Area.

(c) Deepen the bilateral opening-up and connectivity of financial markets, fostering an improved environment for equity and debt financing for enterprises involved in the BRI. Actively address overseas investors' demand for renminbi-denominated assets and their risk management requirements.

5. Jointly promote green development and expand cooperation in new sectors

(a) Encourage enterprises to participate in the joint development of national projects in sectors like green infrastructure, green energy, and green transportation in BRI countries.

(b) Support the establishment of the Green Technology Bank in Phnom Penh in collaboration with the Cambodian government to facilitate international cooperation in green technology innovation.

(c) Host the Shanghai International Carbon Neutrality Expo with high quality, providing more green solutions for green and low-carbon development in BRI countries.

(d) Strive to introduce a series of globally influential Green Silk Road demonstration projects in green industries based on environmental, social, and governance (ESG) principles.

(e) Explore innovative breakthroughs in green financial products related to the BRI, guiding sustainable development of overseas projects through policy-oriented financing.

6. Strengthen cooperation in scientific and technological innovation

(a) Establish joint laboratories with BRI countries to facilitate collaborative research, as well as commercialization and application of research outcomes.

(b) Promote key platforms such as the Yangtze River Delta National Technology Innovation Center, the Shanghai Technology Exchange, and the China-Israel (Shanghai) Innovation Park to broaden the scope of cooperation and engage with more regions.

(c) Facilitate Shanghai enterprises in their global expansion efforts by fostering industrial investment cooperation with BRI countries, especially in critical sectors such as information services and new energy design systems.

7. Enhance people-to-people exchanges

(a) Cultivate dialogue between civilizations with BRI countries

Further develop the Network of Silk Road Arts Festivals.

Promote the Network for Joint Promotion of Culture and Tourism in Sister Cities in the BRI Context.

Showcase Shanghai-style cultural and tourism projects, such as the eight-episode documentary China Before China, and A Dialogue with the World, a series of arts and cultural relics exhibitions held by the Shanghai Museum.

Explore diverse mechanisms for organizing film tours featuring movies from BRI countries.

(b) Strengthen education cooperation with BRI countries

Carry out advanced training programs.

Encourage the internationalization of professional standards and curriculum standards for vocational education.

(c) Enhance healthcare cooperation with BRI countries

Build a high-level overseas traditional Chinese medicine center.

Establish a base for the commercialization and international promotion of TCM achievements.

Promote the development of TCM services trade.

(d) Foster sports cooperation with BRI countries

Utilize international events, conferences, and activities held in Shanghai to actively engage in exchanges and cooperation in sports, research, and industry.

Actively invite teams from BRI countries to participate in Shanghai's signature events such as the Shanghai International Marathon and the Head of Shanghai River Regatta.

8. Improve mechanisms for international cooperation regarding BRI

(a) Actively explore the potential of sister city cooperation and enhance the integration and design of projects promoting friendly exchanges.

(b) Support think tanks in Shanghai to deepen collaboration with their counterparts from BRI countries through project cooperation, facilitating mutual learning and the sharing of development concepts and governance experiences.

9. Strengthen compliance management and foster a clean Silk Road

Guide enterprises expanding globally to establish compliance management systems, enhance their self-discipline, legal awareness, and sense of responsibility, and standardize their overseas business operations.

Source: Shanghai Municipal Development and Reform Commission