In 2023, the total import and export volume of national economic development zones will be 10 trillion yuan, and the actual use of foreign investment will be 39.5 billion US dollars.
On October 24, the Ministry of Commerce held a press conference where spokesperson He Yadong emphasized the significant role of national-level economic and technological development zones as “the national team” of China’s high-level open economy. In 2023, these zones achieved an impressive total import and export value of 10 trillion yuan and attracted foreign direct investment totaling 39.5 billion USD, accounting for over 24% of the national totals in both categories.
As the leading body responsible for the management of these zones, the Ministry of Commerce has focused on several key areas to promote high-level external opening:
First, there has been an emphasis on policy guidance. In recent years, the ministry has facilitated the issuance of three State Council documents aimed at advancing high-level openness while serving in a radiating, exemplary, and leading capacity.
Second, enhancing investment attraction has been a priority. The ministry has organized events like the “Dialogue with Fortune Global 500” and industrial transfer matching conferences to promote investment. It supports innovative investment practices within the national-level zones, including industry chain recruitment and business-to-business investment efforts.
Third, there’s a strong focus on industrial cultivation. The ministry has worked diligently to draw foreign multinational corporations into these zones, facilitating major projects that stimulate supporting industrial development. This has led to the establishment of diverse industrial systems, particularly in advanced manufacturing sectors such as biomedicine and equipment manufacturing.
Fourth, international cooperation is highlighted. The ministry supports the development of international cooperation parks in qualified national-level development zones and aims to deepen global partnerships in green industries. Notably, the Suzhou Industrial Park, Guangzhou Economic Development Zone, and Tianjin Economic Development Zone were recognized among the top 50 global sustainable development goal demonstration zones.
Lastly, sharing successful experiences is crucial. The ministry has compiled and published outstanding case studies from these national-level zones and has strengthened collaboration with international organizations to communicate best practices related to investment attraction, operational management, and improving the business environment.
Looking ahead, He Yadong underscored that the Ministry of Commerce will collaborate with relevant departments and local governments to push for the introduction of supportive policies that yield tangible reform benefits. They aim to bolster investment attraction and support services for national-level development zones further. Additionally, there will be a focus on optimizing management and services, providing comprehensive support throughout the development cycle. The ministry plans to build on 40 years of experience to help these zones achieve new milestones on the journey of modernization in China.
