Playing the melody of Yangtze River Delta integration for the new era

Editor's note: Xue Tianhang is a researcher at the Research Center for Regional Coordinated Development, Zhejiang University, and deputy director of the Regional Economic Planning Institute. The article reflects the author's opinions and not necessarily the views of CGTN. It has been translated from Chinese and edited for brevity and clarity.

Major leaders from the Yangtze River Delta region convened a symposium in Wenzhou, Zhejiang from June 5 to 6. The symposium, themed "Writing a New Chapter in the Integration of the Yangtze River Delta and Being the Pioneer of Chinese-style Modernization," discussed the future development direction of the Yangtze River Delta, and further signaled a strong message of "uniting people's efforts and pooling their strengths to start anew".

Since the integration of the Yangtze River Delta was elevated to a national strategy, the degree of integration in the region has continuously deepened, regional cooperation capabilities have strengthened, and significant results have been produced, making the Yangtze River Delta one of the most dynamic areas in China's economic development. 

According to the latest data, in the first quarter of 2024, the economic aggregate of the delta region reached 7.4 trillion yuan ($1.02 trillion), accounting for about 25 percent of the national total, with its major indicators outperforming those of other regions across the country. 

At the Yangtze River Delta Major Leaders Symposium, a consensus was solidified that the delta region will focus on the strategic positioning of "one pole, three zones, and one highland", playing a leading role in driving the development of other regions, leveraging each area's strengths, and deepening cross-province and cross-city cooperation. These initiatives contribute to continuously consolidating and enhancing the vital function of the Yangtze River Delta as an active growth pole.

The symposium demonstrated the Yangtze River Delta's determination to achieve greater breakthroughs and accomplishments in scientific and technological innovation and cultivation of new quality productive forces. 

Currently, global scientific and technological innovation is entering an unprecedentedly active period. Breakthroughs have been made at an accelerated pace in next-generation technologies represented by artificial intelligence and quantum information, reshaping the global innovation landscape. 

The Yangtze River Delta is one of the regions with the strongest scientific and technological innovation capabilities and the most complete industrial systems in the country. 

The latest statistics show that the industrial scales of integrated circuits, biomedicine, and artificial intelligence in the Yangtze River Delta account for 3/5, 1/3, and 1/3 of the national total, respectively. The area's R&D investment intensity reached 3.23 percent, nearly 0.7 percentage points above the national average. 

In the future, the Yangtze River Delta will pool efforts to enhance original technological innovation capabilities, foster a more globally competitive innovation ecosystem, deeply integrate scientific and industrial innovations, vigorously advance the construction of a digital Yangtze River Delta, and take the lead in and shoulder the heavy responsibility of cultivating and developing new quality productive forces.

The symposium highlighted that the delta will better play its role as a pioneer and experimental ground in aspects such as opening up to the outside world and institutional guarantees. Opening up to the outside world holds significant opportunities for the delta region, and also a crucial driver for the region to achieve high-quality integrated development. 

In 2023, the import and export value of the delta region totaled 15.16 trillion yuan, making up 36.3 percent of the national total, up 0.5 percentage points from 2022. The degree of opening up continued to improve, and the quality of foreign investment utilization steadily increased. 

For instance, 30 new foreign-funded R&D centers were established in Shanghai throughout the year, and foreign investment used in Zhejiang's manufacturing sector grew by 85.8 percent. 

In the future, the delta region will strive to promote institutional opening up and broaden market access, among others. It will focus on building a dual-circulation strategic hub, actively advancing high-level coordinated opening up, and creating new advantages in international competition and cooperation. 

The Yangtze River Delta region will consistently align with national strategies and better shoulder the major responsibilities and missions of being the pioneer of Chinese-style modernization.