China releases guidelines on promoting innovation in economic, technological development zones

0 Comment(s)Print E-mail Xinhua, May 29, 2019
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The State Council, China's cabinet, has released guidelines on promoting innovation in state-level economic and technological development zones.

The country should make efforts to promote innovation in the development zones in terms of opening-up, technology and mechanisms, according to the guidelines.

The market should play a decisive role in allocating resources while the government should play its role better to boost market vitality and foster new drivers for growth, the guidelines said.

The guidelines listed 22 tasks, including increasing the quality of foreign trade and advancing the innovation capabilities of various industries.

Inspections will be made to make sure all measures are implemented by relative departments and local governments.

At present, there are 219 state-level economic and technological development zones in China, contributing around 10 percent to the national gross domestic product and fiscal revenue.

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