Shanxi issues plan for open economic development


Updated: 2021-12-29

North China's Shanxi province recently released its plan for open economic development and opening-up hub construction during the 14th Five-Year Plan period (2021-25).

The plan clarifies the development goals for the next five years: Shanxi will focus on key areas such as industries, market players, channels, and platforms, and accelerate its transformation from a relatively closed inland province into an open province.

By 2025, the province's open economy will see a substantial increase in size, a significantly optimized structure, and an improved level of quality, forming a new inland hub for opening-up to the outside world.

To achieve these goals, the plan proposes specific measures focusing on aspects such as the scale of the open economy, the quality of the open economy, and the open platform system targeting the outside world.

It also lists 10 key projects with the aim of promoting high-quality development of foreign trade and foreign capital, including the construction of the Belt and Road large business circle, the expansion and opening of the service industry, the construction of cross-border e-commerce comprehensive pilot zones, and the upgrading of the comprehensive bonded zone.