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Yangtze River Delta Pushing for Innovative Economic Development

Pub Date:18-06-22 08:58 Source:Shine

The central government’s recent instructions on promoting higher quality integrated development in the Yangtze River Delta have had strong repercussions in Shanghai, Jiangsu, Zhejiang and Anhui.

In order to make the Yangtze River Delta a truly leading demonstration area for the implementation of new development concepts and a globally competitive world-class urban agglomeration, governments at all levels have adopted a series of concrete measures in planning, cooperation, strategic coordination and market integration.

According to the spirit of the 19th CPC National Congress, the key to high-quality development is innovation-driven development, which is the transformation of old and new kinetic energy.

In turn, the new kinetic energy will stimulate the development of the new economy.

In this sense, to understand the higher quality integrated development in the Yangtze River Delta, we must lay out a grand plan in the areas of science and innovation resources (new kinetic energy) and emerging industries (new economy) agglomeration, sources and radiation.

A key part of achieving this is to build the Yangtze River Delta into a core area of higher quality and integrated development, because technology and innovation resources and emerging industries have strong agglomeration characteristics.

The three provinces and one city in the Yangtze River Delta cover nearly 360,000 square kilometers. It is obviously unrealistic to gather technology and innovation resources and new industries in such a vast region.

Like the urban agglomerations in Guangdong-Hong Kong-Macau Greater Bay Area, nine cities in southern Guangdong, Hong Kong and Macau are not only the essence of the Pearl River Delta, but also enjoy the highest level of development in China. Meanwhile, technological innovation and emerging industries are the most concentrated, new kinetic energy is most likely to be gathered, and new economy is most likely to be born in such an area.

Therefore, from the perspective of the integration of technology and innovation resources and the development of emerging industries, the Yangtze River Delta must consolidate similar core areas. In fact, the essence of the problem is planning and construction of the Hangzhou Bay urban agglomeration.

Nowadays, the key issue is to raise China’s second Bay Area economy to a national strategy. The State Council presides over its development plan, just as it does for the Guangdong-Hong Kong-Macau Greater Bay Area urban agglomeration development plan.

The importance of the core area is concentrated in the following aspects:

First, the core region has the advantage of gathering talents. In the context of innovation-driven and transformational development, the “war” of talents in some cities in China demonstrates the fact that all these cities have a strong desire for talents. On the other hand, it also highlights the predicament of lots of cities in attracting talents. What do discovery, invention and the subsequent industrialization depend on? The new economy is the result of the trial and error of entrepreneurs and investors.

Secondly, there is the wisdom and hard-work of a large number of scientists, engineers, and skilled workers.

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