In a recent announcement, the Chinese Ministry of Commerce has revealed its intention to intensify efforts towards promoting high-quality development in border and cross-border economic cooperation zones. The ministry has issued a circular that contains 15 measures in collaboration with other 16 government departments, including the Ministry of Foreign Affairs and the National Development and Reform Commission.
The circular highlights that border and cross-border economic cooperation zones are essential platforms for China to deepen cooperation with neighboring countries and regions while promoting high-quality joint construction of the Belt and Road Initiative. These zones also play a crucial role in the social and economic development of border areas.
The circular urges for more efforts to build these zones into platforms for high-level opening-up, integrating border trade, processing and manufacturing, producer services, logistics and procurement. To achieve this goal, the 15 measures include enhancing the layout and functions of border and cross-border economic cooperation zones through means such as establishing new ones and expanding existing ones.
Moreover, the measures also include expanding international cooperation, supporting innovative industrial development, enhancing supplies of production factors, and improving institutional structures of the zones. This would involve improving working and management mechanisms to achieve the desired results.
These efforts towards promoting high-quality development in border and cross-border economic cooperation zones demonstrate China’s commitment to regional development and cooperation. As China continues to develop its economic ties with its neighboring countries and regions, these zones will play an increasingly vital role in facilitating trade, investment, and economic growth.