The Central Government is drafting special measures to ease market access in Shenzhen and Hengqin Free Trade Zone in Zhuhai City, a senior official with the country’s economic planner said Thursday.
Xu Shanchang, head of the general economic system reform department of the National Development and Reform Commission (NDRC), made the remarks at a press conference in Beijing. At the conference, a guideline to ease market access in the southernmost province of Hainan was unveiled in the country’s latest efforts to build the resort island into a globally influential, high-level free trade port.
Xu said the guideline will provide a reference for Shenzhen and Hengqin, which are vital to the development of the Guangdong-Hong Kong-Macao Greater Bay Area and are better test fields for further reform and opening up. He stressed local conditions will also be taken into consideration when making future policies.
The guideline, jointly released by the NDRC and the Ministry of Commerce, detailed a slew of measures to ease market access in the pharmaceutical and health sectors, optimize financial market entries and development environment, and promote wider entry into fields of culture and education.
China will support innovative development of domestically manufactured high-end medical equipment and high-end medical beauty industry in Hainan, as well as promote online sales of prescription drugs, the guideline said.
Authorities will support Hainan in building charging stations and battery swapping facilities across the island for new-energy vehicles and will push for the application of autonomous driving technology.
China will also support Hainan in encouraging firms — both domestic and foreign — to develop new drugs, the NDRC said, adding that it will push for an international center for transplantation sciences in the southern province.
An investment fund dedicated to the health care industry is also going to be set up, and the Central Government may also delegate the job of approving domestic online games to Hainan, the NDRC said.
The government also has plans to step up the support given for upgrading the Wenchang Spacecraft Launch Site into a “world-class” site for commercial spacecrafts.
Last June, China gave the status of a free trade port to Hainan, which it aims to make fully functional by 2035, so it can build an offshore center of trade and finance for streamlining the flow of commodities, capital and talent.
In March last year, the NDRC said it will formulate and introduce special measures to relax market access in Hainan and Shenzhen this year.