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Spotlight on China
SPOTLIGHT ON CHINA
The sustainable
development of Shanghai
Applying G20 principles and results can help Shanghai’s
contribution to growth and governance, writes Yang Xiong
Yang Xiong
Mayor of Shanghai, People’s Republic of China
Shanghai has hosted, since the
beginning of this year, a G20 finance
ministers and central bank governors
meeting, the G20 trade ministers
meeting, the Youth 20 (Y20) Summit,
and the second G20 Employment Working Group
meeting. Guided and supported by the central
authorities, we planned meticulously and spared
no efforts in the preparations to ensure the
above G20 meetings were convened successfully.
In the organising process, it has become clear to
us that the G20 meeting mechanism and results
will have positive effects on the development of
the city of Shanghai.
An important initiative
First, implementing the principle of sustainable
development. One of the key items on the
agenda of this year’s G20 summit is to formulate
collective action plans to implement the
United Nations 2030 Agenda for Sustainable
Development. It is an important initiative
to promote inclusive and coordinated
development globally and is perfectly aligned
with the principles and targets of Shanghai’s
development. Shanghai aims, by 2020, to
become an international economic, financial,
trade and shipping centre and to put in place
the basic framework of a centre of innovation in
science and technology (IST Center Initiative)
with global influence. We are committed to
developing an international metropolis that is
brimming with the energy of innovation and
that is green and liveable with a sustainable,
inclusive and sharing economy. We have set our
sights on becoming a truly global city.
Second, advancing structural reforms.
Implementing structural reforms is the inevitable
path that countries take to counter the downward
pressures weighing on the global economy. It is
also an important part of the G20 summit agenda.
Shanghai is currently at a critical point of pushing
for innovation-driven development and economic
transformation and upgrading. We are therefore
focusing on promoting supply-side structural
reforms and losing no time in developing new
growth momentum. In particular, we must
prioritise the transformation of government
functions, whereby we will streamline
government procedures and delegate powers,
balance regulation with liberalisation initiatives,
and constantly improve government services,
with an aim to cutting institutional transaction
costs, unleashing the vigour and creativity of the
market, and securing stable growth.
Third, promoting trade facilitation measures.
G20 meetings advocate trade facilitation and the
development of an inclusive multilateral trade
cooperation mechanism. Since 2013, focusing
on its free trade zone initiative, Shanghai has
implemented a series of trade facilitation
measures with significant impacts, including
negative list management, international trade
‘single window’ management and categorised
status-based cargo supervision. We will continue
to benchmark against international best practices
and develop a system consistent with the
world’s investment and trade norms, creating
an internationalised business climate featuring
convenience and the rule of law.
Global value chains
Fourth, seeking new space for international
cooperation. G20 meetings advocate for solidarity
in the spirit of partnership and seeking win-win
cooperation in our endeavour to break new
ground in international economic cooperation.
This matches China’s One Belt, One Road
initiative perfectly and creates more opportunities
for Shanghai to develop a more open economy.
We will follow the national strategy
and integrate global value chains. Playing
to Shanghai’s strength as an international
metropolis in pooling and distributing resources,
we will allocate high-quality assets globally
by encouraging businesses to invest overseas
and take part in globalised supply chains and
international cooperation in equipment and plant
manufacturing. Shanghai will play an important
role in international economic cooperation.
In upholding and implementing the national
strategy, Shanghai will further the reform
measures, open wider to the outside world,
promote sustainable and sound development of
the city, and make its due contribution to global
growth and governance. G20
70 G20 China: The Hangzhou Summit • September 2016 G7G20.com