Business / Economy

More reforms expected for Beijing-Tianjin-Hebei coordinated development

(Xinhua) Updated: 2015-08-24 09:44

BEIJING - China is determined to deepen reforms to clear away obstacles to the coordinated development of Beijing, Tianjin and Hebei regions.

The governments will break down barriers that block the free flow of capital, technology, property rights and labor, said a document issued by the office of a leading group for the coordinated development of the Beijing-Tianjin-Hebei area on Sunday.

The document revealed key information of an outline of the Beijing-Tianjin-Hebei integrated development program, which was approved by the Political Bureau of the Communist Party of China (CPC) Central Committee in April.

Unified markets in financial services, land resources, technology and information will be promoted.

Coordination will be established in policymaking concerning administration, infrastructure construction, environmental protection, industrial development and technological innovation.

The governments will also unify public services, such as public job centers, a better pension system and reforms for the college entrance test and student enrollment.

The reform will also help boost the innovation capacity of the region, according to the document.

The capital is home to the majority of top universities and research institutions in China, while Tianjin, a busy port and free trade zone, has been authorized to try out new ideas. Hebei, a prominent steel producer now grappling with overcapacity and severe pollution, is in urgent need to tap new technologies and methods.

The plan seeks to beef up innovation centers such as Beijing's Zhongguancun Science and Technology Park and Binhai New District in Tianjin, the document said.

The government will encourage enterprises to invest in R&D, improve financing channels and prompt the sharing of resources and research results among innovators.

China hopes the integration will help the areas to reinforce the position as a technological innovation center by 2017 and boost the R&D investment and its proportion in regional GDP by 2020.

A guideline for coordinated development of the Beijing-Tianjin-Hebei region was approved by the Political Bureau of the CPC Central Committee in late April, aiming to reshape the densely populated region.

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