SZ's reforms to be promoted across the nation

China has identified eight experiences from Shenzhen’s pilot comprehensive reforms and is planning to promote them across the country, according to a notice released by the National Development and Reform Commission (NDRC) on Tuesday.

This is the third year, following 2022 and 2023, that the NDRC has promoted innovative measures and typical experiences in Shenzhen’s pilot comprehensive reforms.

Shenzhen’s pilot comprehensive reforms have so far accumulated 48 typical experiences that have been promoted nationwide.

The new batch of eight experiences include four aspects — the market-based allocation of factors of production, technological innovation, high-level opening up, and social governance.

Staff members of Shenzhen-based UBTECH Robotics, China’s biggest maker of educational and humanoid robots, test a humanoid robot at the firm’s headquarters in Nanshan District. Xinhua

In terms of the market-based allocation of factors of production, it mainly involves implementing a new mechanism for the early detection and training of top-notch, innovative talent and establishing a mechanism for cross-border credit data transmission and recognition.

The other experiences involve intellectual property securitization, overseas intellectual property protection, a maritime service system for liquefied natural gas (LNG) refueling on water, enhanced convenience of RMB cross-border payment and receipt, the establishment of a “carbon footprint certification” system in the Guangdong-Hong Kong-Macao Greater Bay Area, and a mandatory liability insurance system for environmental pollution.

In 2020, China issued a comprehensive plan on implementing pilot reforms in Shenzhen to build the city into a demonstration area of socialism with Chinese characteristics in the next five years.

Since the implementation of the pilot comprehensive reforms in Shenzhen, a series of institutional achievements have been formed and recognized by national laws, departmental administrative regulations, and normative documents.

The practice of carrying out pilot comprehensive reforms has been successively promoted in Shanghai’s Pudong New Area and Xiamen in Fujian Province.