Recently, the People’s Government of Guangzhou released the Implementation Plan for Construction of Guangzhou National Independent Innovation Demonstration Zone (2016 to 2020) (hereinafter referred to as the Plan), requiring that, by 2020, Guangzhou National Independent Innovation Demonstration Zone should have fulfilled the goal to closely follow the development of international advanced science and technology parks and catch up with the development of national top-class independent innovation zones to build Guangzhou into a globally influential national central city for innovation and a hub for international science and technology innovation. The Plan clearly said that, the “two zone linkage mechanism” will be adopted to construct the Guangzhou National Independent Innovation Demonstration Zone and the China (Guangdong) Pilot Free Trade Zone in Nansha New Area of Guangzhou (hereinafter referred to as the Guangzhou FTZ) with bi-directional overlapped preferential policies and integrated system and mechanism innovation and service system improvement.

 

It also said that, relying on the advantage in rich human resources for science and technology education, the Guangzhou National Independent Innovation Demonstration Zone should play a leading role in innovation policies, sharing of innovation resources, innovative industrial clusters and talent cultivation. On the other hand, relying on the advantages in trade and financial opening-up and innovation, the pilot FTZ should establish a new pattern featuring coordinated development of various trade and financial instruments to support the innovation and development. Great efforts should be made to expand the connection and cooperation channels between the two zones and further promote free flow of various resource factors and cooperation between both sides.

 

Source: Translated from Invest Guangzhou, August 25, 2016