Pudong hits impressive success rate of over 91% with national policies

Pudong was born out of reform and opening-up and thrived because of it.

On April 18, 1990, China announced Pudong's development and opening-up. After more than 35 years, its GDP reached 1.78 trillion yuan (US$243 billion) in 2024. Its fixed asset investment exceeded 373 billion yuan, the total industrial output value of businesses above the designated scale was 1.32 trillion yuan, and the business revenue of social service industries above the designated scale exceeded 1.2 trillion yuan.

A great deal has been accomplished in the last five years since the State Council released the guidelines intended to encourage Pudong's high level reform and opening-up and turn it into a pioneer area for socialist modernization. The completion rate of major national strategies exceeds 91 percent. These initiatives cover several important areas, including the construction of the socialist modernization pioneer area, the Pudong new Area comprehensive reform pilot, and the overall plan for the institutional opening-up of the pilot free trade zone.

Numerous significant reform initiatives have yielded the expected outcomes, and they are currently receiving nationwide promotion. In December last year, the national Development and Reform Commission promoted 11 innovative measures of Pudong's comprehensive reform nationwide.

Breakthroughs were made in factor marketization; for instance, the Shanghai Data Exchange recorded a 5-billion-yuan trading volume in 2024. The "one business, one license" policy was expanded to 58 industries, further widening market access.

High-level institutional opening-up is expanding steadily. The State Council has fully implemented measures for six FTZs, including Shanghai, by international rules. Goods trade liberalization has also advanced, exemplified by the operation of the Yangshan Special Comprehensive Bonded Zone and import pilots.

Pudong has further solidified its position as a hub for sci-tech innovation. Large corporations established 103 innovation centers, which currently support approximately 5,000 small and medium-sized businesses.

Pudong's global resource allocation function has grown significantly. The "Five Centers" – global hubs for science and technological innovation, trade, shipping, banking, and the economy – have been strengthened by the influx of elite institutions. Off shore trade benefited from a stamp duty exemption, which increased by 75 percent to reach US$90 billion in 2024.

Pudong's focus on establishing a people-centered metropolis has grown. A recognized 15-minute public service circle and "one network" solutions have all contributed to better governance.