President Xi Jinping prepares to speak on Oct 14 at a gathering to celebrate the 40th anniversary of the establishment of the Shenzhen Special Economic Zone in Shenzhen, Guangdong province. (FENG YONGBIN / CHINA DAILY)

China is committed to broader reform and opening-up with higher quality while its miracle city of Shenzhen is set out for a new vision 40 years after it became the country’s first special economic zone.

In a speech delivered at a celebration marking the 40th anniversary in Shenzhen, President Xi Jinping said reform will not come to a standstill, and opening-up will only go further.

“Reform and opening-up must be moved forward at a higher level, and new advances must be made in work on the fronts of special economic zones”, said Xi, who is also general secretary of the Communist Party of China Central Committee and chairman of the Central Military Commission.

Xi urged Shenzhen to develop into a pilot zone for socialism with Chinese characteristics and set an example for cities of a modernized socialist nation.

In the new historic mission in the new era, Shenzhen should bolster its capacities and levels to implement the new development philosophy, strive to deepen reform and expand opening-up in a comprehensive manner, and promote the development of the Guangdong-Hong Kong-Macao Greater Bay Area.

In addition, the city should enrich the new practice of “one country, two systems” and take the lead in achieving socialist modernization.

In his speech, Xi also recalled the decision-making process for setting up the special economic zones 40 years ago, which also include Zhuhai and Shantou in Guangdong province and Xiamen in Fujian province.

Their establishment was a great pioneering act for the Party and the country to promote reform, opening-up and socialist modernization, Xi said.

Shenzhen has become a new city built by the Party and the people after reform and opening-up and is also a marvelous illustration of socialism with Chinese characteristics, he said.

Shenzehn’s GDP surged to 2.7 trillion yuan (US$401 billion) in 2019 from 270 million yuan in 1980 in what Xi described as “a historic leap from a backward border town to an international metropolis with global influence”, and a miracle created by the Chinese people.

The development of SEZs must be continued at a better and higher level, Xi said.

It is important for Shenzhen to unwaveringly carry out an innovation-driven strategy, foster new growth engines and become a leading hub in scientific, technological and industrial innovation with global influence, he said.

He highlighted the need to plan the development of strategic emerging sectors, foster the growth of future industry and develop the digital economy, adding that more investment must be made into fundamental and basic research that can be applied.

The growth of the modern services sector, such as finance, research and development, design, accounting, legal services and conventions and exhibitions, must be stepped up, he said.

The city must carry out a more open policy to attract and cultivate a group of world-class talent in areas such as strategic science and technology and high-caliber innovation teams, Xi said.

“Reform has come to a new historic point, and many problems (we face) are unprecedented, new ones. The level of complexity, sensitivity and difficulty in pressing ahead with reform is no easier than 40 years ago,” he said.

He added it would require greater political courage and wisdom and sticking to the approach of “crossing the river by feeling the stones” to enhance top-level design and deepen reform in key areas and procedures.

Xi pledged support to the city in piloting reforms in a number of key areas, such as bettering the system and mechanism for market allocation of resources, the business environment, the high-level open economic system and the governance system for the ecology, environment and urban space.

In pushing forward across-the-board opening-up, Xi called for efforts to accelerate advancing opening-up with institutional guarantees such as rules and norms, and explore a more flexible policy system and a more scientific management system in terms of domestic and foreign trade, investment, finance and taxation, financial innovation and personnel exit and entry.

He highlighted the challenges faced by the city in urban governance and lack of urban space for development, saying that it should accelerate steps to modernize its governance system and capacities.

Xi underlined the solid implementation of the people-centered philosophy of development in the reform and development of SEZs, with efforts to address issues in areas such as employment, education, medical care, social security, housing, elderly care, food safety, the environment and public security.

The president also urged the city to seize historic opportunities arising from the development of the Guangdong-Hong Kong-Macao Greater Bay Area, stressing that rules and mechanisms for the economy in the three areas must be better synergized and the development of intercity railways must be accelerated.

Xi said compatriots in Hong Kong and Macao are encouraged to play important roles in investment, entrepreneurship and opening-up.

Hong Kong’s Chief Secretary for Administration Matthew Cheung Kin-chung on Oct 14 said given its advantages under the “one country, two systems” policy, Hong Kong could serve as a “two-way gate” to the Chinese mainland and the international market in the new era.

Business magnate Allan Zeman expressed a similar view. With its worldwide reputation in financial services, Hong Kong constantly assists mainland businesses in “going global” and attracting investment, he said.

On Oct 11, China unveiled a plan, comprising an array of innovative policies, on implementing pilot reforms in Shenzhen to build the city into a demonstration area of socialism with Chinese characteristics.

Zeman welcomed the move, saying that Hong Kong could share the fruits of Shenzhen’s technological development, as the two cities are both cornerstones of the development of the Bay Area. “The two cities are like brother and sister,” he said.

Richard Cullen, a law professor at the University of Hong Kong, said President Xi’s speech has laid a “very good foundation” for closer Greater Bay Area cooperation. “Good opportunities are coming, and it’s good to get in early to take advantage of them.”

He said that Hong Kong people should remember that Shenzhen is a competitor in certain ways, but it is much more a partner. “It’s much better to be next door to this powerhouse in innovation and technology.”

Swiss financial consultant Angelo Giuliano hoped to see more incentives to increase the mobility of talents between the two cities to enhance cooperation between Shenzhen and Hong Kong.

The central government and local governments need to launch a lot of communication and exchange programs to better explain the mega city cluster project and its necessity, especially to Hong Kong’s young people, he suggested.

Attending the celebration in Shenzhen, Tang Ching-ho, a Hong Kong member of the National Committee of the Chinese People’s Political Consultative Conference, said that with the recovery of the mainland economy following the coronavirus outbreaks, Hong Kong’s youth should try to find opportunities on the mainland.

A thriving economy with a broader industrial basis will provide young people in Hong Kong with an opportunity to advance, said Lau Siu-kai, vice-president of the Chinese Association of Hong Kong and Macao Studies, adding that Hong Kong should join forces with Shenzhen in developing innovative technology and the creative sector.

Contact the writers at xuwei@chinadaily.com.cn