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2nd LD-Writethru: President Xi says Shanghai can "pioneer" reform, innovation

Xinhua, March 5, 2016 Adjust font size:

President Xi Jinping said Shanghai should continue to serve as a vanguard and pioneer in reform and innovation when talking to lawmakers from the coastal city Saturday.

Xi made the remarks when he joined a meeting of Shanghai deputies, who were deliberating the government's work report, at the ongoing annual session of the National People's Congress.

Shanghai should use its courageous, pioneering spirit and youthful vigor to be innovative in the way it advances reform, Xi said.

Xi asked the region to accelerate measures that will help it establish itself as a globally influential center for technology and innovation.

As the country's finance and trade center, Shanghai was chosen as the location for China's first-ever free trade zone (FTZ) and has been used by policymakers as a testing ground for new policies, such as the negative list for foreign capital management, which defined sectors in which foreign entities could invest.

Speaking highly of Shanghai's efforts in reform and innovation, Xi said he hopes Shanghai could deepen reforms by focusing on the China (Shanghai) Pilot FTZ.

The FTZ should be used to trial and test mechanism innovation, Xi said. He urged Shanghai to take the lead in creating a convenient, international business environment based on the rule of law, as this would influence a fair, unified and efficient market.

A conducive relationship between the government and the market is influenced by economic system reform, Xi said, noting that the market plays the decisive role in resource allocation and government should assist this process.

The government should step up function restructuring, allowing the market to fully play its role and fulfill its responsibility, Xi said.

When talking about innovation development, Xi urged Shanghai to focus on science and explore core technologies.

Shanghai should make greater efforts to attract more leading scientific and technological talents with global vision and experience, Xi said.

Xi also asked Shanghai to speed up industrial restructuring, and identify and support new growth points to improve the real economy.

In addition, he spoke about China's innovative, coordinated, green, open and sharing developmental philosophy during the deliberation. Endi