Building Shenzhen into Demo Area Could Have Huge Global Impact

 

Shenzhen is the country’s first special economic zone. It has a population of about 13 million and its GDP hit 2.42 trillion yuan (about US$346b) in 2018, up 7.6 percent year on year.

 

Writing for the newspaper Beijing Youth Daily, commentator Fan Dayu pointed out Shenzhen has always been a pioneer in China’s reform and opening-up. Now a vibrant international innovative city, it can fully turn into such a pilot city. 

 

The move also has a global impact on deepening reform and expanding opening up, which is first reflected in boosting the development of the Guangdong-Hong Kong-Macao Greater Bay Area, Fan said.

 

Included in the document are improving the city’s environment and functions, opening to Hong Kong and Macao, and giving people from the two special administrative areas working and living in Shenzhen access to public services and resources. These will help promote the efficient, convenient flow of personnel, fund, technology and information, and bring about a breakthrough in the development of the Greater Bay Area, Fan noted. 

 

It also reflects the impact in building Shenzhen into an example of high-quality development. In terms of economic development quality, Shenzhen has maintained a leading position among tier-one cities. Its innovation development abilities have become a model for China’s high-tech sector that has had an international impact, he wrote.

 

One of the key measures to build the pilot area is to build a comprehensive national science center in Shenzhen and develop major innovations in 5G, artificial intelligence, cyberspace science and technology, he noted. 

 

Building such an area will boost companies’ input in technology innovation, energize economic development and prepare the Chinese economy for risks and challenges including trade frictions, he concluded.