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Business丨Yangtze River Delta set to up innovation

CHINADAILY · 公众号 · 时评 · 2024-12-06 12:50

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The Yangtze River Delta region, a cornerstone of China's economic landscape, is poised for a future defined by heightened cooperation and innovation, as officials unveiled ambitious plans during a recent news conference held by the YRD Regional Cooperation Office.

Bolstered by a strategic focus on research and development and a steadfast commitment to cross-regional cooperation in innovation and industry, the YRD region has solidified its status as an economic powerhouse. Noteworthy statistics showcase the region's economic ascent, with its share of the country's total GDP climbing from 23.9 percent in 2018 to 24.4 percent in 2023. Impressively, nine cities within the region now feature economies surpassing 1 trillion yuan ($140 billion) annually, representing one third of such urban areas nationwide.

Central to this remarkable growth trajectory has been a deliberate shift toward high-quality economic development, exemplified by a surge in R&D expenditures. The region's R&D intensity has surged from 2.81 percent in 2018 to 3.34 percent in 2023. This dedication to groundbreaking research has garnered international acclaim, with Shanghai-Suzhou and Nanjing, Jiangsu province securing the fifth and ninth positions, respectively, in the 2024 Global Innovation Index's ranking of the top 100 science and technology urban clusters.

▲ Tourists congregate at the Bund area of Shanghai. Wang Gang/For China Daily

Gu Jun, director of the YRD Regional Cooperation Office, hailed these achievements as emblematic of the regions economic resilience and dynamism. Gu emphasized the successful implementation of the third round of the Three-Year Action Plan for Integrated Development of the YRD Region, a pivotal roadmap guiding the region's progress from 2024 to 2026.

A linchpin in the region's success story has been collaborative endeavors, such as the joint research program spearheaded by comprehensive national science centers in Shanghai's Zhangjiang high-tech industrial development zone and Anhui's provincial capital Hefei. These partnerships have birthed 12 innovation alliances and a roster of 41 demand-driven research tasks for the region's third phase, fostering a fertile ground for cutting-edge discoveries and advances.

As the YRD region looks to the future, officials underscored the paramount importance of sustained collaboration in navigating the complexities of a rapidly evolving global landscape. Zhang Zhongwei, executive deputy director of the YRD Regional Cooperation Office, emphasized the necessity of a dual-pronged strategy to fortify regional integration, blending governmental initiatives with the vibrancy of market forces.

"To propel integrated development in the Yangtze River Delta, we must establish robust institutional frameworks within our operational mechanisms," Zhang said. "This institutional setup encompasses both governmental and market dimensions, embodying two-wheel drive and mutual empowerment of governmental and market forces."

Luo Bin contributed to this story.

Business丨​Yangtze River Delta set to up innovation

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Business丨Yangtze River Delta set to up innovation