On the morning of October 15, the Promotion Leadership Group of the China (Shanghai) Pilot Free Trade Zone released the Construction Plan for the Second Batch of Shanghai Pilot Free Trade Zone Linkage Innovation Zones. Among them, Changning District has been included as a Linkage Innovation Zone of the Shanghai Pilot Free Trade Zone. What does this mean? Recently, the Changning Development and Reform Commission provided a policy interpretation of this development.

Changning District is located at the Y-shaped intersection of the Shanghai-Nanjing and Shanghai-Hangzhou development axes, adjacent to the Hongqiao Comprehensive Transportation Hub. It serves as Shanghai’s "bridgehead" connecting the Yangtze River Delta and an important hub linking domestic and international markets. Changning has a strong gene for reform and innovation. From being one of the first in the country to conduct international bidding for land leasing and to establish a national-level development zone focused on the service industry, to recent years where six reform and innovation initiatives, such as "one license, multiple addresses," "one permit, multiple addresses," cross-regional collaborative regulation of online markets, "separate inspection and release with zero waiting," and economical and intensive land use, have received commendation from the State Council. Changning has always adhered to the principles of "relying on reform, walking the path of opening-up, and playing the card of innovation."

The released Construction Plan for the Second Batch of Shanghai Pilot Free Trade Zone Linkage Innovation Zones includes two lists. The first list is the "Replication and Promotion List," which contains 57 task measures applicable to all Linkage Innovation Zones, covering six major areas, namely investment, trade, finance, data, technology innovation, and talent. This aims to unleash reform dividends on a broader scale. The second list is the "Independent Reform List," which includes 29 task measures to support each district in developing specialized industries based on local conditions. The Changning Linkage Innovation Zone will focus on encouraging anchor enterprises to advance digitalization in aviation and trade, build trusted data spaces, and foster data innovation laboratories. It will explore the establishment of cross-border data service stations to guide enterprises in data classification, grading, and network data security risk assessments. Efforts will also focus on facilitating the transformation of breakthrough scientific and technological achievements in electronic materials, nurturing and incubating technology enterprises, and promoting the construction of the Shanghai Silicon Alley high-quality incubator. Additionally, it will deepen the construction of the national online market regulation and service demonstration zone, establish a full-process smart supervision model for the live-streaming economy, set up a live-streaming monitoring sub-center under the Municipal Market Regulation Bureau's Advertising Monitoring and Evaluation Center, and establish live-streaming monitoring points in key live-streaming enterprises.

Changning will fully promote the implementation of reform measures based on regional realities. On one hand, it will strengthen breakthroughs at specific points by advancing concrete tasks such as fostering data innovation laboratories, optimizing cross-border data services, and deepening the construction of the online market regulation and service demonstration zone, forging distinctive features, creating highlights, and achieving tangible results. For example, it will actively explore the construction of a full-process, multi-dimensional, and closed-loop smart supervision model for the live-streaming economy, leveraging functions such as real-time monitoring, risk warning, and compliance reminders to enhance the compliance and precision of enterprise live-streaming, standardize the development of new business formats, and create a safer and more trustworthy live-streaming business environment, thereby addressing the "growing pains" of the industry. On the other hand, it will emphasize integration across broader areas, using specific regions or scenarios as drivers to deploy a "combination punch" of reforms. For instance, building the Shanghai Silicon Alley high-quality incubator will integrate a series of reform measures in technology innovation, finance, talent, and more, forming a super-scenario for reform and leveraging greater reform effects. Through independent reforms, Changning will explore and accumulate experience for city-wide reforms.

Furthermore, regarding the Replication and Promotion List, Changning will conduct a comprehensive benchmarking and analysis, refining implementation pathways on the supply side and deepening demand assessment on the demand side, vigorously promoting precise supply-demand alignment and the continuous emergence of scenarios. For example, it will support lifting restrictions on the capital contribution ratio for partnerships between Hong Kong and Macao law firms and mainland law firms, deepen pilot projects for integrated domestic and foreign currency capital pools for multinational companies, encourage innovation in financing models for technology enterprises, utilize the recommendation rights for key employers recruiting non-Shanghai-born fresh graduates, and promote the integration of the Construction Land Planning Permit and Construction Engineering Planning Permit into a single permit, ensuring these measures are implemented as soon as possible to release their benefits.

In the next step, Changning will strengthen the replication and promotion of reforms, foster coordinated and synergistic development, and actively deepen exploration to enrich the application scenarios of Pilot Free Trade Zone policies. This will result in a batch of reform and innovation achievements with Changning characteristics, further amplifying the radiating and driving effects of the Pilot Free Trade Zone. Through these efforts, Changning will build new advantages and unleash new vitality in Shanghai’s comprehensive deepening of high-level reform and opening-up.