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Zhejiang Province considers building Shanghai-Hangzhou-Ningbo Bay zone

Global Times| Updated: June 17, 2021 L M S

The provincial government of East China's Zhejiang Province, neighboring Shanghai, is currently assessing replicating aspects of the blue print for constructing a Shanghai-Hangzhou-Ningbo Bay Economic Innovation Zone.

The development plan aims at building the economic innovation zone at a high-level equivalent to other international bay areas which has been listed in the key work schedule of the National Development and Reform Commission in 2021, according to a notice released at the website of the Zhejiang provincial government.

The economic blue print, centered on the southern part Hongqiao international trade and commerce hub, is aimed at strengthening the linkages between the province and the Hongqiao international hub, Shanghai's Lingang New Area and Pudong New Area to promote the integration of innovation and industrial chains there.

The Zhejiang provincial government is now seeking opinions from the public institutions and think tanks to make the research on the blue print which is expected to kick off in June.

The research on the economic innovation zone comes on the heels of a document issued by China's State Council on Thursday, encouraging Zhejiang Province to enhance high quality development and become a pilot area nationwide to achieve common prosperity.

According to the plan, by 2025, the per capita GDP in Zhejiang Province is to reach the level of moderately developed nations. By 2035, the province is set to realize common prosperity with per capita GDP and the income of urban and rural residents equivalent to the level of developed economies.