Reform and opening up reshapes pioneering area in Shanghai

Non-stop reform

The changes would not have been possible without the area's constant steps toward reform and opening up.

"The important decision to reform and open up Pudong showed the world China's unswerving resolution and confidence to push forward the reform and opening up," Weng said.

In the initial stage, Pudong was granted a host of supportive policies, including tax exemptions, easier project approval and easier access for foreign investment.

With the policy preferences, Pudong saw the establishment of many of the country's firsts: a bonded area, a securities exchange and a foreign-invested bank, as well as the first foreign insurance company, among many others.

In 1993, Pudong was expanded with the establishment of the Pudong New Area. In 2005, the State Council approved the Pudong New Area's role as the first pilot area for comprehensive reforms.

Five years ago, the government decided to establish a China (Shanghai) Pilot Free Trade Zone (FTZ) in the Pudong New Area, the country's first FTZ.

Shanghai FTZ in Pudong published the country's first negative list with items which were off limits for foreign investment. The negative list has gradually been shortened as the opening-up drive expands, with items cut from 190 to 48.

The area also spearheaded the country's efforts of streamlining business registration, speeding up customs clearance and corporate supervision. So far, more than 100 categories of institutional innovation have been duplicated and rolled out in other parts of the country.

"Pudong's development is an important witness of China's reform and opening up and fully corroborates the greatness and correctness of the CPC Central Committee's decision of building special economic zones and new areas," Weng said.

It also shows the correctness of the reform and opening up under the Party's leadership, and the path of socialism with Chinese characteristics, he added.

In early November, Shanghai will host the China International Import Expo, which has attracted more than 2,800 companies from more than 130 countries and regions.

Pudong has chosen 13 platforms and enterprises to provide exhibition and logistics services to exhibitors from all around the globe.

The area will take the opportunity of the expo to create new heights in pursuing opening up in all fronts, said Weng.