Jiangxi open economy pilot zone approved

Jiangxi open economy pilot zone approved

The State Council has approved the establishment of an open economy pilot zone in eastern China's Jiangxi province, according to a circular released on Monday.

The general construction plan will be issued by the National Development and Reform Commission.

The circular said construction of the pilot zone should adhere to new development concepts, promote high-quality development and focus on supply-side structural reform.

It should also actively integrate with the Belt and Road Initiative, participate in the development of the Yangtze River Economic Belt, and coordinate with the construction of the Guangdong-Hong Kong-Macao Greater Bay Area and the integrated development of the Yangtze River Delta.

The pilot zone should tap into regional cooperation potential, promote the free and efficient flow of resources, accelerate the construction of an open market, and explore a new development path that advances reform, development and innovation through opening-up, it said.

It urged the Jiangxi provincial government to reinforce leadership during the construction of the pilot zone, improve work mechanisms and work out detailed plans for implementation.

State Council departments will strengthen guidance and support for the construction and development of the pilot zone. The NDRC should enhance coordination and supervision, and present timely reports on major issues to the State Council, the circular said.