Bright future expected for China-ROK demonstration zone

Updated: 2020-07-02

The Information Office of Jilin Provincial Government held a news conference on July 1, focusing on the development of the new China-ROK (Changchun) International Cooperation Demonstration Zone, which officials said had an exciting future.

The establishment of the new zone in partnership with South Korea was announced in Changchun, capital of Northeast China's Jilin province, on June 29.

Officials from the Jilin Provincial Development and Reform Commission, the Changchun municipal government and the newly established demonstration zone attended the July 1 conference.

Officials said the development of the zone will boost innovative economic cooperation between China and South Korea, as well as higher-level and wider partnerships.

They said the zone will also lead to the all-round revitalization of Northeast China and help explore a new model for economic cooperation in Northeast Asia.

Located in the northeast of Changchun, the establishment of the zone received support from more than 20 national ministries and commissions.

The National Development and Reform Commission has issued 24 supportive policies for the zone and the Jilin provincial government also launched a raft of supportive policies -- in finance, tax, land and other areas -- to boost the venture.

Officials said that the zone will focus on institutional innovation, improving the business environment and attracting top professionals.

They said by the end of 2025, the zone will have promoted economic cooperation and exchanges with South Korea and other countries -- and will have progress its evolution as an international opening-up and cooperation platform featuring high-quality development.

By the end of 2035, the zone is expected to have become a hub for high-end industry, made remarkable achievement in economic exchanges between South Korea and other countries -- and developed into a competitive and influential international cooperation demonstration zone in Northeast Asia, officials added.