Xi: China needs to deepen reforms, boost Shenzhen's model city concept
China needs to deepen its reform with more courage and wisdom in the new era, said Chinese President Xi Jinping on Wednesday, adding that many unprecedented challenges are ahead.
Reforms today are more difficult and complicated to carry out compared to 40 years ago, said Xi, who was speaking at a celebration event marking the 40th anniversary of China's first special economic zone (SEZ) in Shenzhen, southern Guangdong Province.
"Therefore, the Shenzhen SEC must shoulder the responsibility of pioneering the reform and creating effective models that can be replicated and promoted in other places (of the country)," Xi said.
A detailed policy package, including 27 measures and 40 new authorizations in key areas, will guide the city's implementation of comprehensive reforms in the macro economy, business, urban development, city governance and environment sectors, according to Xi's speech.
The city will also be given more room and flexibility to manage its land system and market and easier access for foreign investment in cutting-edge technologies.