The China (Shanghai) Pilot Free Trade Zone has released a new plan for the second batch of its linked innovation zones, bringing Changning district into the city's expanding network of reform-driven innovation hubs.

The plan introduces two task lists. The first, with 57 measures applicable to all linked innovation zones, covers six key areas: investment, trade, finance, data, science and technology innovation, and talent. These measures aim to extend institutional innovation and amplify the benefits of reform.

As part of the first task list, Changning will implement several reform initiatives, including expanding the pilot program for multinational companies' integrated renminbi and foreign currency cash pools, encouraging innovative financing models for tech enterprises, and streamlining construction permits through the integration of the Construction Land Planning Permit and the Construction Project Planning Permit.

The district will also leverage policies that support non-local university graduates to attract young talent.

The second list includes 29 measures that allow each district to develop distinctive industries and pilot locally tailored reforms.

Under the plan, the Changning linked innovation zone will focus on encouraging key enterprises to advance digital transformation in shipping and trade, build trusted data spaces, and establish data innovation laboratories.

The district will also explore the building of cross-border data service centers to help enterprises improve data classification, cybersecurity risk assessment, and compliance management.

In addition, Changning will accelerate the commercialization of breakthrough technologies in the electronic materials sector, support tech startups, and foster the development of the Shanghai Silicon Lane High-Quality Incubator.

Source: Official WeChat account of Changning district information office at "shchangning"