China publishes guideline to help central regions set up industrial cluster bases

china publishes guideline to help central regions set up industrial cluster bases

Sumary of China publishes guideline to help central regions set up industrial cluster bases:

  • This will be another major Chinese blueprint to push regional high-quality development after the rollout of regional strategies like western development, the Greater Bay Area as well as the integrated development of the Yangtze River Delta.
  • The guideline drew up a development timeline for Central China regions, saying that by the end of 2035, Central China should basically build a modernized economic system.
  • The government will also speed up establishing national logistics hubs in cities like Zhengzhou and Hunan Province’s Changsha, while the number of commodities traded on the Zhengzhou Commodity Exchange will increase.
  • Dong Dengxin, director of the Finance and Securities Institute of Wuhan University, said that a major problem that hinders Central China’s development is that it has been too independent and protectionist.
  • For example, in past years, some cities in Central China saw each other as competitors and sought to develop the same industries, a mindset that obstructed cities’ development as a whole.

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