Shanghai to support reform in Pudong

(chinadaily.com.cn)Updated : 2019-07-25

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A panoramic view of the financial hub in Pudong New Area of Shanghai. [Photo by Wang Gang/For China Daily]

Shanghai municipal government has approved measures to support Pudong New Area's further reform and opening-up to achieve 2 trillion yuan ($290.9 billion) GDP (Gross Domestic Product) by 2025, official sources said on Thursday.

According to a local people's congress standing committee decision, the legislative body will draft and adjust local regulations in accordance with Pudong's development requirements, so as to ensure the district becomes a vanguard in China's development.

"According to the decision, local laws and regulations will give way to future laws, regulations and measurements tailored for the reform and opening-up of Pudong by the central government," said Ding Wei, deputy director of the Shanghai municipal congress's law committee.

The legislative decision is also a response to guidelines issued in June on supporting Pudong's further reform and opening-up.

The municipal government of Shanghai will also allow Pudong to trial establishing their own regulations in reform and opening-up, innovative development, industrial upgrading and urban development.