Shanghai to implement policies to boost Yangtze River Delta, galvanised by third plenum

Name: SCMP
Telephone: +852-2680-8888

Shanghai and neighbouring provinces of Zhejiang, Jiangsu and Anhui will fine-tune their business environment to spur activity in the YRD region, official says

Reading Time:2 minutes

Why you can trust SCMP

Shanghai and its neighbouring provinces are set to implement policies to bolster growth in the key Yangtze River Delta region. Photo: Shutterstock

Daniel Renin Shanghai

Published: 9:16pm, 23 Jul 2024

Shanghai, along with its neighbouring provinces, will launch more policies to enhance logistics capabilities and bolster trade and investment in the Yangtze River Delta (YRD) region, giving a much-needed boost to the slowing Chinese economy, according to an economic adviser to the municipal government.

Zhang Zhaoan told reporters on Tuesday that the documents unveiled by the Communist Party’s Central Committee following the conclusion of the third plenum last week had paved the way for further liberalisation in the YRD region, which would facilitate the flow of talent, goods, capital and data at lower costs.

“Institutional reform will play a key role in propelling economic growth of the Yangtze River Delta,” he said. “You can be assured that Shanghai and other provinces [in the region] will continue to fine-tune their business environment to spur economic activities.”

He did not elaborate on the policies Shanghai, Zhejiang, Jiangsu and Anhui plan to implement soon, but said tax incentives, reduced red tape and a cut in road toll fees could effectively improve business morale, as well as buoy production and trade.

Zhang said the documents published after the plenum will serve as a guideline to implement reforms on various fronts, including development of YRD. Detailed operating guides will be published to enforce the policy direction, he added.

03:14

China’s Communist Party wraps up policy meeting amid growing uncertainties