From building China's first free trade pilot zone to leading socialist modernization, Shanghai's Pudong New Area is writing a new chapter on the country's reform and opening-up.

This year marks the 10th anniversary of the establishment of the China (Shanghai) Pilot Free Trade Zone, and Pudong is shouldering an important mission to explore new paths of achieving high-quality development.

Statistics show that in the first quarter of this year, Pudong has completed 409 key tasks, accounting for 90 percent of the total.  

It has taken a series of reform measures such as issuing more than 3,800 licenses for 31 pilot industries, introducing 17,000 new market entities, launching a supervision mechanism that replaces administrative compliance certificates with corporate credit reports and is optimizing the legal guarantee system with the release of 15 new laws, two local regulations and 13 management measures.

Making breakthroughs

This year, Pudong is focusing on the economy, reform, people's livelihoods and striving to drive the high-quality development in all aspects through a higher level of opening-up.

Pudong has initiated a package of policies to attract professionals worldwide. For example, under its Pearl Plan, Pudong will grant a contribution reward of up to 5 million yuan ($726,700) per year to overseas high-level talents who stand at the forefront of science and technology. The policy covers aspects such as financial support, housing and children's education.

The year of reforms

Pudong plans to continue reforming its policy system in two major aspects: launching forward-looking measures for institutional innovation and exploring the nation's comprehensive pilot reforms.

In 2005, Pudong became China's first pilot zone for comprehensive reform, and the area built China's first free trade pilot zone in 2013. The free trade zone has expanded from 28.78 square kilometers to five areas and the Lingang New Area, forming a batch of systems sectors such as investment management, trade supervision and finance.

An aerial view of Lujiazui, the financial center in Shanghai. [Photo/WeChat ID: gh_01c6f7b4cf3d]