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Guizhou inland open economy demonstration zone approved

Updated: Aug 15,2016 3:44 PM

On Aug 15, the State Council issued a reply to the National Development Reform Commission (NDRC) and Guizhou provincial government, approving construction of the Guizhou inland open economy demonstration zone.

Construction of the demonstration zone will be based on the concept of innovative, coordinated, green, open and inclusive development. It should be proactively involved in the construction of the Belt and Road Initiative, development of the Yangtze river economic zone and global cooperation on production capacity, said the reply, adding that the demonstration zone is aimed at promoting entrepreneurship and mass innovation, speeding up the development of new economy, injecting new dynamics to the economic growth and updating traditional industries.

According to the reply, efforts should also be made to build demonstration zones covering areas from trade and investment, modern production to poverty relief, to set an example for inland areas in opening up and development under the New Normal.

Guizhou provincial government should carry out an orderly and efficient development of the demonstration zone with a sound construction planning. Departments under the State Council should also give support regarding major projects, trial policies, and system and mechanism innovation.

In addition, according to the plan, NDRC should build a platform for follow-up and supervision, attach importance to issues encountered during the construction, and report to the State Council in a timely manner in the case of major issues or emergencies.