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FTZ trials and SOE reform will move ahead

2014-07-18 08:55 Shanghai Daily Web Editor: Qin Dexing
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Shanghai will continue to accelerate trials in the pilot free trade zone and push forward reforms among state-owned enterprises in the second half of this year, Party Secretary Han Zheng said yesterday.

The city will strive to ensure new breakthroughs in key areas, sustain social stability and harmony and train officials to lead by example, Han told Party members at the sixth plenary meeting of the 10th Shanghai Municipal Congress of the Communist Party of China, which ended yesterday.

"Reform is still our top priority," Han said. "We have reached a stage where reform is critical... Without it, we can not realize any advancement."

A series of policy innovations were initiated in the China (Shanghai) Pilot Free Trade Zone, a milestone underscoring Shanghai's commitment to reform, since its launch last September.

Earlier this month, the zone released the latest version of its so-called negative list. More than 50 rules and restrictions were lifted in a bid to further increase investment transparency and reduce administrative red tape.

"We have made another important step towards an internationalized zone," Han said. "But there is still a wide gap between our standards and global ones, which requires us to push forward further reforms."

Han said Shanghai will continue working to produce, by year end, policies that can be duplicated and expanded as demanded by the central government. Risk control will be the key bottom line, Han added.

The reform of state-owned enterprises was another core issue for the city. Han said Shanghai will push ahead relevant SOE reforms and deal with fundamental questions like the role of "platform companies," which regulate the capital management of state-owned enterprises.

Last year, Shanghai published a reform guideline, calling for reduction in government interference in the operation of state-owned enterprises. The goal was designed to ensure integrated management of state-owned assets. In the past, there were multiple layers of regulation by various supervision commissions.

Han also said at the meeting that the government has largely fulfilled its tasks set for the first six months, during which the city's gross domestic product was forecast to reach 7 percent with inflation around 2.6 percent.

The Shanghai Statistics Bureau is scheduled to announce first-half economic data today.

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