14 existing development zones in China. Image: media.china
Two more national-level development zones shall be built to encourage innovation, as the country seeks to foster new engines for growth.
The government has approved the establishment of two “national innovation demonstration zones” in Fujian province and Anhui province respectively, according to a statement released after the State Council’s executive meeting on June 8, chaired by Premier Li Keqiang.
Similar zones, including Beijing’s Zhongguancun, and Shanghai’s Zhangjiang high tech zone, have played experimental and pioneering roles in the nation, and those models need to be replicated across the country, said the statement.
The government vowed to cut red tape and provide better services to those innovation incubators so as to support the nation’s economic rebalancing drive.
Currently China has 14 existing development zones, which are located at Beijing, Tianjin, Shanghai, Xi'an, Suzhou, Hangzhou, Chengdu, Wuhan, Hunan, Shenzhen, Henan, Shandong, Liaoning and PRD.