China's Xi says Shanghai should lead in reform, innovation

China's Xi says Shanghai should lead in reform, innovation
Xi said the Shanghai free trade zone should be a channel for Chinese entities to "step outside" and an example for other regions, Xinhua reported.
PHOTO: Reuters

Shanghai should lead China's plans to reform and advance innovation, the official Xinhua news agency has reported President Xi Jinping as saying at the annual meeting of parliament.

Xinhua reported that Xi told the National People's Congress (NPC) on Sunday that Shanghai should try to ensure its free trade zone was a bastion of reform and financial innovation.

It should also assist China with its "One Belt, One Road" initiative that will provide services along Silk Road trade links, he told the NPC, China's largely rubber-stamp parliament.

Read also: How China's economy has evolved

Xi said the Shanghai free trade zone should be a channel for Chinese entities to "step outside" and an example for other regions, Xinhua reported.

The global environment was complex and volatile and downward pressure on the domestic economy was great, said Xi, while China insisted on steady progress.

Read also: China's economy will stabilise in 2017 but challenges weigh on outlook

China said last August it would set up seven new free trade zones in Liaoning, Zhejiang, Henan, Sichuan, Shaanxi and Chongqing.

Purchase this article for republication.

BRANDINSIDER

SPONSORED

Most Read

Your daily good stuff - AsiaOne stories delivered straight to your inbox
By signing up, you agree to our Privacy policy and Terms and Conditions.