(Let Pudong start again) Abide by and seek change: Pudong's "system innovation" is copied and promoted to the whole country

　　China News Service, Shanghai, November 11th, title: Abide by and seek change: Pudong's "system innovation" is replicated to the whole country

　　Author Li Shuzheng Yumei

　　"I didn't expect happiness to come so quickly!" On the 49th floor of the Shanghai Tower, the tallest building in China, Park Xueqian, chairman and CEO of JPMorgan Chase Securities (China) Co., Ltd., shared with reporters the "sense of happiness" after the company settled in Pudong. .

　　Pu Xueqian's "happiness" is closely related to the measures taken by the Shanghai Free Trade Zone to promote China's further opening up of the financial industry.

JPMorgan Chase Securities (China) Co., Ltd., which officially opened in March this year, was the first batch of newly established foreign-owned securities companies.

　　From the opening of the first wholly foreign-owned insurance holding company to the opening of the first batch of newly established foreign-funded reinsurance institutions, since the new round of the expansion of the financial industry, Pudong has landed more than 20 foreign-funded financial projects.

　　For 30 years, Pudong has been bravely standing at the forefront of the trend. Pudong has abided by the mission of "Pioneering and Forerunner", boldly experimenting, boldly breaking, and independent.

A series of reproducible and generalizable institutional innovations produced by this "experimental field" have explored new ways and accumulated experience for China to further deepen reform and expand opening up.

　　If you don't accumulate steps, you can't reach a thousand miles.

From the "empty transfer of funds and real transfer of land" at the beginning of development and opening up to the establishment of the Shanghai Free Trade Zone, Pudong took the lead in launching a negative list of foreign investment, a "single window" for international trade, free trade accounts, and "one industry, one certificate". To approve basic system and core system innovation.

　　Weng Zuliang, secretary of the Pudong New Area District Committee of Shanghai, said that with the construction of Shanghai Free Trade Zone and Lingang New Area as the lead, up to now, 55 nationally pioneering projects of expanding opening up have landed in Pudong, and 328 system innovations have been replicated and promoted nationwide.

　　Without accumulating small currents, there is no way to become a river.

A system innovation initiative launched by Pudong either started with subtleties or used the attitude of "dare to be the first" to bring the "big ocean" of China's economy into the global economic community.

　　Over the past 30 years, Pudong has attracted a total of US$102.95 billion in foreign investment, gathered 36,200 foreign-funded enterprises from 170 countries and regions, and 346 of the Fortune Global 500 companies have investment projects in Pudong.

Among them, Pudong has 350 regional headquarters of multinational companies, accounting for almost half of Shanghai.

　　In April this year, Volvo Construction Equipment announced that it would move its Asia Pacific headquarters from Singapore to Shanghai.

Thomas Kuta, President of Volvo Construction Equipment Asia, once said that this is not a simple "moving". More importantly, the Chinese headquarters company has also been "upgraded" into a dual headquarters in Asia and China, which will become its global headquarters. One of the three headquarters in the sales area.

　　This is exactly a living case of the innovative development and superposition of functions of the Pudong headquarters economy.

Hang Yingwei, Mayor of Pudong New Area, Shanghai, believes that the development of the headquarters economy is inseparable from institutional innovation. “Institutional innovation should be carried out in accordance with the needs of headquarters development and eliminate the factors that restrict the allocation of global capital, information, technology, services, goods, and talents within the headquarters. Bottleneck."

　　Take offshore trade as an example. The payment problem under the conditions of "three-flow separation" of order flow, goods flow, and capital flow has always restricted the development of offshore trade in China.

Pudong has solved the issue of trade authenticity review by exploring the "white list" system, and has gradually promoted the normal operation of offshore trade.

　　"Volvo Construction Equipment moved its Asia-Pacific headquarters from Singapore to Pudong. This reform is an important'catalyst'." With the help of institutional innovation, Volvo Construction Equipment has become the first order of offshore trade in China and promoted the development of offshore trade. Pudong's first trial.

According to Hang Yingwei, the scale of offshore resale transactions in Pudong now accounts for more than 90% of Shanghai.

　　Abiding is persevering, and seeking change is always new.

In 30 years of developing and opening up roads, Pudong abides by its mission, "dare to venture, dare to test, dare to be the first."

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