China”s new comprehensive reform plan to build Shenzhen into a pilot demonstration area of socialism with Chinese characteristics by 2025 is expected to inject new dynamics of institutional innovation into the construction of the Guangdong-Hong Kong-Macao Greater Bay Area and specify the direction of development, an expert said.
“It will demonstrate the country’s system-building approach,” said Zhong Yun, director of the Institute of Economics: Hong Kong, Macao and Special Economic Zones at Jinan University.
“Looking back on the development process of Shenzhen over the previous four decades, reform, innovation and opening-up have become key words for Shenzhen’s development,” Zhong said.
Under to the plan, the word “demonstration” will become another key word for the Shenzhen special economic zone’s development in the years to come, she said.
“As a core city of the Guangdong-Hong Kong-Macao Greater Bay Area, Shenzhen’s positive role in institutional innovation will be reflected in the future,” Zhong said.
The Greater Bay Area includes nine cities in Guangdong: Guangzhou, Shenzhen, Zhuhai, Foshan, Dongguan, Zhongshan, Huizhou, Jiangmen and Zhaoqing, plus the Hong Kong and Macao special administrative regions.
Meanwhile, innovations in the system of introducing scientific and technological talent will help Shenzhen attract more brains and help the Greater Bay Area ease its shortage of scientific and technological talent, especially in basic science and technology, she said.
“As building scientific and technological innovation in the Greater Bay Area requires closer cooperation and exchanges between cities, Shenzhen’s talent reforms will benefit not only that city, but also the entire area, Zhong added.