On Aug. 18, 2019, the Central Government unveiled a detailed guideline on supporting Shenzhen in building a pilot demonstration area of socialism with Chinese characteristics. We are publishing a series of reports on what Shenzhen is doing to implement the strategy.
Great progress has been made in building Shenzhen into a pilot demonstration area of socialism with Chinese characteristics since China unveiled a detailed plan on implementing pilot reforms in the city Oct. 11, 2020, Shenzhen Special Zone Daily reported.
Shenzhen, granted with greater autonomy in the reform of important areas, will advance higher-level reform and opening up towards higher goals, according to the plan set for the 2020-2025 period.
In 2020, Shenzhen bravely undertook the new mission tasked by the Central Government to implement pilot reforms and advanced the city’s opening up in the new era, said the Daily.
The 16th plenary session of the sixth Shenzhen Municipal Party Committee, which was held Nov. 27 and 28, 2020, made it clear that implementing the guiding principles of President Xi Jinping is the top priority and the primary task of Shenzhen for now and a period in the future.
Last year, Shenzhen actively promoted the construction of the pilot demonstration area, Guangdong-Hong Kong-Macao Greater Bay Area, Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone, Guangming Science Town, and the development and opening up of Qianhai.
Five meetings were held to deliberate over a series of major strategic issues related to the development of the whole city.
Shenzhen has also formulated a plan for the division of responsibilities in implementing the pilot reforms and outlined more than 50 specific tasks.
On Aug. 24 last year, the first batch of 18 mainland enterprises went public on the ChiNext board under the registration-based reforms, marking a new start for the Shenzhen-based tech startup board. The registration-based reforms of the ChiNext board are of great significance to improve China’s capital market system.
Over the past year, the city’s legislature has made full use of the legislative power of the special economic zone. It has formulated 15 new laws and regulations and revised seven laws and regulations. These laws and regulations provide a strong legal support for Shenzhen in building a pilot demonstration area, and take the lead in exploring and accumulating experience for the legislation at the national level and other regions.