State Council approves open economy pilot zone in Jiangxi

The State Council has approved establishing an open economy pilot zone in East China’s Jiangxi province, according to a circular released on April 13.

The general construction plan will be issued by the National Development and Reform Commission (NDRC).

According to the circular, the construction of the pilot zone should adhere to new development concepts, persist in promoting high-quality development, and focus on supply-side structural reform. It should also actively integrate into the co-construction of the Belt and Road Initiative, participate in the development of the Yangtze River Economic Belt, and coordinate with the construction of Guangdong-Hong Kong-Macao Greater Bay Area and the development of the Yangtze River Delta.

The circular stressed to tapping into regional cooperation potential, promoting the free and efficient flow of resources, accelerating the construction of an open market layout, and exploring a new development path that advances reform, development and innovation through opening-up.

It urged the Jiangxi provincial government to reinforce the leadership during the construction of the pilot zone, improving work mechanisms and working out and implementing detailed plans. Major policies and projects involved should be applied for approval in accordance with procedures.

Related departments under the State Council will strengthen the guidance and support for the construction and development of the pilot zone. NDRC should enhance coordination and supervision, and present timely reports on major issues to the State Council.