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Oct 23,2020

CHINA SHENZHEN 5 YEAR PLAN

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General Office of the CPC Central Committee and General Office of the State Council recently issued an implementation plan for the comprehensive reform of Shenzhen's Pilot Demonstration Zone for Building Socialism with Chinese Characteristics (2020-2025), urging all regions and departments to earnestly implement the plan in light of their actual conditions. 

The main objectives are to introduce a number of major reform measures in such important areas as market-based allocation of factors of production, optimization of the business environment, and overall planning and utilization of urban space by 2020, formulate and implement the first comprehensive list of authorized items, and make good progress in launching pilot projects. 

By 2025, China will has achieved landmark results in reforms in key areas and links, basically completed pilot reforms, and set an important example for institutional building nationwide. 

What are the big measures? Take a look at the following: 

1.  Entrust the Shenzhen Municipal Government to approve the conversion of agricultural land other than permanent basic farmland, which may be authorized by the State Council, into construction land. State will support efforts to put existing industrial land to good use, and explore ways to solve problems related to planning adjustments, land supply, revenue distribution, and land left over from history.

2.   Deepen the reform of household registration system, adjust and improve the points-based settlement policy. China will improve the residence permit system, encourage more public services to be provided and raise service standards in light of actual conditions, and steadily expand the coverage of basic public services to all permanent residents.

3.  Support the internal closed pilot test of the DIGITAL RMB, and promote the r&d and application of the digital RMB and international cooperation.

4. Reform the way of setting up and organizing scientific research projects, and establish a mechanism for selecting, allocating funds and evaluating results of scientific and technological projects mainly determined by the market. 

5. Take the lead in improving the data property rights system, exploring new mechanisms for data property rights protection and utilization, and establishing a data privacy protection system.

6. Fully respect scientific research, technology and management talents, and explore the realization forms that fully reflect the value of technology, knowledge, management, data and other elements.


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