Three Keywords on China’s Regional Development

by+Gong+Haiying

The Central Economic Work Conference， held in December 2014， confirmed Chinas regional development roadmap for 2015， according to which priority will be given to accelerating the “Belt and Road Initiatives，” the coordinated development of the Beijing-Tianjin-Hebei region， and the development of the Yangtze River Economic Belt. Few doubt that these three areas will become hot topics at the 2015 annual sessions of the National Peoples Congress （NPC） and the National Committee of the Chinese Peoples Political Consultative Conference （CPPCC）.

The Belt and Road Initiatives

Introduced by Chinese President Xi Jinping in 2013， the Belt and Road Initiatives （namely， the Silk Road Economic Belt Initiative and the 21st-Century Maritime Silk Road Initiative） aim to boost policy exchange， road connections， trade talks， currency circulation， and people-to-people communication in relevant regions to form an open system with extensive coverage.

As channels linking China with other relevant countries， the Belt and Road Initiatives will help all involved parties with promotional cooperation in realms including transport infrastructure， trade， investment， energy， regional integration， and the internationalization of the RMB. Moreover， the Belt and the Road stretch through Chinas territory from east to west and link the countrys major harbor cities longitudinally， thus facilitating intercon- nection between relevant provinces and autonomous regions.

By the end of 2014， the Belt and Road Initiatives had received positive feedback from more than 50 countries involved. With the establishment of the Asian Infrastructure Investment Bank and the Silk Road Fund， conditions are already ripe for the Belt and the Road to be officially launched. In addition to 16 Chinese provincial-level regions designated as part of the core area so far， the Belt and the Road will likely expand to cover the majority of Chinas territory.

The Initiatives link eastern， central and western China and involve a wide range of industries which are expected to tap fresh potential in Chinas economy. More importantly， the Initiatives offer a platform characterized by inclusive development and link the Asia-Pacific and the European economic circles， with far-reaching stimulation of the world economy.

Coordinated Development of Beijing， Tianjin and Hebei

The plan to realize coordinated development between three neighbors in northern China – Beijing， Tianjin and Hebei– can be traced back to 1982. In 2004， the National Development and Reform Commission of China began to formulate the Plan for Beijing-Tianjin-Hebei Region.

However， the integrated development of Beijing， Tianjin and Hebei didnt merge into the fast lane until 2014. That year， the three neighbors signed a series of coopera- tive agreements in realms including transportation， industries， and ecology. Early in 2015， “coordinated development of Beijing， Tianjin and Hebei” was written into government reports of all these three places. Beijing places “coordinated development of Beijing， Tianjin and Hebei” at the top of its agenda for economic development this year while accelerating the pace of“decreasing non-core functions of capital.”Hebei stresses its role in the coordinated development of the region as “accepting industrial transfer while seeking cooperation.” Tianjin plans to use the opportunity to introduce some industries and projects from Beijing.

Analysts expect Overall Plan for the Coordinated Development of Beijing， Tianjin and Hebei， the blueprint for the top-level design of the regions integrated development， to soon be released. The Plan will define the respective functions of Beijing， Tianjin and Hebei in the region， further clarify the regions industrial layout and industries to be transferred， and bring major breakthroughs in ecosystem protection and integrated development of transport infrastructure.

Transport integration is being given priority in the coordinated development of the Beijing-Tianjin-Hebei region. On December 30， 2014， the governments of Beijing， Tianjin and Hebei， together with China Railway Corporation， invested 10 billion yuan to establish the BeijingTianjin-Hebei Intercity Railway Investment Co.， Ltd. Moreover， Chinese authorities are formulating a plan to integrate the transportation network of the Beijing-TianjinHebei region， which will bring projects concerning infrastructure， transportation， smart traffic， harbor waterways， and comprehensive transport hubs. For instance， customs agencies of Beijing， Tianjin and Hebei will build a mechanism to share information， achieve mutual recognition of supervision measures， and help each other in law enforcement and facilitating customs clearance.

Yangtze River Economic Belt

The Yangtze River Economic Belt was defined as an axle of Chinas economic de- velopment as early as the Seventh Five-Year Plan period （1986-1990）. Over the past three decades， however， the Yangtze River Economic Belt has lagged behind other coastal economic zones such as the Pearl River Delta and the Bohai Economic Rim.

In April 2014， Zhejiang and Guizhou provinces were added as part of the Yangtze River Economic Belt. The economic belt now covers 11 provinces and municipalities. On September 25， 2014， the State Council of China announced that the country would push the development of the Yangtze River Economic Belt and make it a new growth point of Chinas economy. The economic belt is seeing a new oppor- tunity for development.

China will optimize urbanization along the Yangtze River Economic Belt， linking the Yangtze River Delta urban agglomeration， the city cluster on the middle reaches of the Yangtze River and the Chongqing-Chengdu city cluster. By 2020， a comprehensive three-dimensional transportation corridor serving the economic belt will be completed.

The Yangtze River Economic Belt will join the Pearl River Delta and the Yangtze River Delta to serve as an important pillar of Chinas economy. It will compose a T-shaped economic layout which will support the countrys growth in decades ahead.