The three provinces and one municipality in the Yangtze River Delta have successively released the 2024 provincial government work report and the national economic and social development plan for the new year. What important work in Shanghai, Jiangsu, Zhejiang, and Anhui has been put at the "beginning of the article"? What are the characteristic practices of various localities?

At the same time, the four provinces and cities announced the list of major projects in 2024. Does this list of projects indicate the region's future growth potential?

Through horizontal and vertical comparison, The Paper Institute found two commonalities and four characteristics in the New Year's planning of various parts of the Yangtze River Delta, in an attempt to outline the development picture of the Yangtze River Delta for the New Year.

Common point 1: play the role of "ballast stone" of high-tech manufacturing projects

Looking at the 2024 government work report, the draft national economic and social development plan and the list of major projects of the three provinces and one city, the most distinctive features are:The government has invested more in large projects and is focusing on high-tech manufacturing。 According to the statistics of researchers from The Paper, except for Shanghai, the annual planned investment growth rate of major projects in the Yangtze River Delta provinces in 2024 will reach double digits.

Source: Related reports
*Note: As of this writing, Anhui has only released the first batch of data, and there are still three batches that have not yet been released, and the annual growth rate of investment amount is based on 2023 data as a reference value.

In Shanghai's 2024 list of major projects, the science and technology industry accounts for 40%, mainly concentrated in the fields of life and health, high-end equipment, integrated circuits, artificial intelligence and other fields (in order from high to low), in line with Shanghai's"3+6" science and technology innovation policy。 Compared with the other three provinces, many of the projects in Shanghai belong to the aerospace and cruise industries.

The investment in Jiangsu Province is dominated by large projects.Of the 600 projects, more than 1 billion accounted for 70%. Among them, 69.5% belong to strategic emerging industries such as biomedicine, intelligent manufacturing equipment, and integrated circuits, 12.8% belong to future industries such as third-generation semiconductors, hydrogen energy, and new energy storage, and 17.7% belong to the transformation of traditional industries.

Zhejiang's "thousands of trillions" major projectsIt is also concentrated on construction. ThisplanIt is required to promote more than 1,000 major provincial construction projects in 2024, and plan to complete an investment of more than 1 trillion yuan.

Anhui's 2024 data only discloses the first batch of major construction projects. However, the "Special Action Plan for Effective Investment in Anhui Province (2024)" proposes to implement a special action to invest in a strong province in science and technology and a strong manufacturing province, with a total of 680 billion yuan of physical workload. In 2023, there will be 9,601 key projects in Anhui Province, with annual planned investment1,659.75 billion yuan，This year, it is expected to continue to break through。

Common point 2: Optimize government affairs and further improve the business environment

The three provinces and one municipality have all mentioned in their New Year's plans to "improve the business environment", and plan to focus on the optimization of government affairs, and optimize the government service environment through the construction of digital government, simplification of government procedures and various "one-time" reforms.

But each has its own emphasis. As an international metropolis, Shanghai has formulated and implemented version 7.0 of the Action Plan for Optimizing the Business Environment in accordance with the World Bank's new business environment assessment systemOpenness, joint construction and optimization of supervisionfor the implementation of the focus (for details, please refer to theThe Three Priorities of Shanghai's Business Environment Version 7.0: Openness, Co-construction, and Optimization of Supervision》）。

Zhejiang's business environment improvement policy focuses on the local economic structure dominated by the private economy (see "32 articles on the private economy), with "Let private enterprises operate with peace of mind, invest with confidence, and concentrate on entrepreneurshipAs the goal, a series of measures such as no arrears in the government, no arrears of wages in Zhejiang, and the construction of a new type of political and business relationship that is pro-Qing and unified. The "Zhejiang Provincial Regulations on Optimizing the Business Environment", which came into effect on March 1, also focuses on "giving active support to small, medium and micro enterprises, individual industrial and commercial households, etc.", and the government should "respond to everything and do not disturb anything".

The construction of business environment in Jiangsu is based on"Empower the construction of a modern industrial systemFeaturing a commitment to providing local manufacturers with first-class quality, standardized productsDetection system。 In 2023, Jiangsu Province has promoted a series of key industrial chain standardization improvement projects, inspection and testing to promote industrial optimization and upgrading, and small and micro enterprise quality certification improvement actions. In the New Year, Jiangsu will continue its efforts in this field.

Anhui's business environment focuses on improving the level of rule of law.Anhui (Hefei) Innovation Legal ZoneIt is trying to accelerate the accumulation of scarce high-end legal resources, and promote the cultivation and introduction of high-end talents in the fields of international commerce, international finance, and intellectual property.

Differences: move forward under pressure, strive for innovation

In addition to vigorously investing in science and technology innovation projects and improving the business environment, the New Year's work arrangements of the three provinces and one municipality also have their own characteristics.

Shanghai: The construction of the "five centers" of internationalization and institutional opening-up

In the 2024 Shanghai Municipal Government Work Report and the Draft National Economic and Social Development Plan (hereinafter referred to as the "Development Plan"), the first priority is to build Shanghai's internationalization"Five centers”。

There are a number of arrangements in place around this goal.The first is to improve Shanghai's international services and facilities.On January 1, the new version of the Shanghai International Service Portal was put into trial operation, which is committed to providing authoritative policy services for foreigners coming to Shanghai. The website refers to the advice of expatriates in Shanghai, and has reached the "It felt like an authentic Shanghai local was taking me with melevel.

secondlyThis year, the Shanghai Municipal Government will launch a series of activities to enhance international cooperation.The "Tide Surge Pujiang" Investment Shanghai Global Sharing Season series of activities lasted from February to June. At the same time, Pudong will support activities such as the Global Operator Program (GOP) and the Global Institutional Investor Summit (GIC).

The most fundamental way to improve the level of internationalization is to rely on institutional opening-up.The "Development Plan" states that "we will steadily expand the opening up of rules, regulations, management, standards and other institutions." "Important "test fields" include the Pudong New Area, the Pilot Free Trade Zone and the Lingang New Area. For example, Shanghai has released a new implementation plan in February.allowUnder the framework of the national security management system for cross-border data transmission, financial institutions transfer data required for daily operations overseas.

Zhejiang: Improve the investment system and expand the science and technology innovation fund

Zhejiang's top New Year's resolutions are all about investment.The first is to arrange 102.36 billion yuan of provincial financial funds to stimulate the marketand implement and upgrade the "8+4" economic policy system. This system includes eight major policy areas, including the expansion of effective investment, scientific and technological innovation, and the cultivation of two trillion-dollar industrial clusters. The tax reduction policy plans to reduce the burden of market operators by more than 250 billion yuan.

meantimeExpand the scale of state-owned funds for science and technology innovation industries, including "making good use of local government special bonds", "annual planned investment of 20 billion yuan in special funds, leveraging 100 billion yuan of social capital, and expanding the scale of provincial science and technology innovation funds". In 2023,HangzhouIt has built an industrial fund cluster with a scale of more than 300 billion yuan;WenzhouIt is also planned to set up a 50 billion yuan guidance fund. In 2024, this trend is expected to expand.

The "digital economy" is still a key target industry。 The digital economy is Zhejiang's "trump card industry", and the new year will improve the quality of digital economy innovation with in-depth implementation"No. 1 Development Project"For traction, it is expected that the added value of the industry will increase by about 9%, and the digital transformation coverage rate of industrial enterprises above the designated size will reach 85%.

Jiangsu & Anhui: independent scientific research, new industry and cross-border e-commerce

The priorities of Jiangsu and Anhui in the New Year are similar. First of all, Su Wan put itImprove the level of independent scientific researchput in a very important position. Compared with Jiangsu and Shanghai, the scientific and educational resources of Jiangsu and Anhui are more scattered. In this context, Jiangsu proposed to "promote high-level scientific and technological self-reliance and self-reliance", and Anhui's work at the top of the article is also to strengthen the construction of "innovative provinces". In terms of specific measures, Su and Anhui plan to start from the construction of national laboratories, "double first-class" universities and research institutes, and the introduction of high-end talents.

Enhance scientific research capabilities,Broadly empower the industrial base。 Jiangsu New Year's Proposal Focus"1650"Industrial System Construction,"51010"Strategic emerging industrial clusters and other key industries, to improve market competitiveness ("strong chain"), enhance security and resilience ("supply chain"), and increase added value ("chain extension") actions. Anhui intends to "Take advantage of the momentum to expand the first industry of automobilesAt the same time, Anhui also emphasizes the layout of emerging industries and future industries. In terms of policy tools, Su and Anhui have taken the introduction of high-quality enterprises in key areas as an important idea.

Manufacturing comes first, and exports keep up.In 2023,JiangsuThe procurement trade in the cross-border e-commerce market increased by more than 50%;AnhuiExports of the "new three" products (new energy vehicles, lithium batteries, and solar cells) increased by 11.6 percent, of which automobile exports increased by 80.1 percent. In the New Year, Su Wan hopes to continue this trend. Jiangsu proposed to implement a three-year action plan for the high-quality development of cross-border e-commerce, focusing on the development of "cross-border e-commerce + industrial belt" and the layout of overseas warehouses. Anhui targets cross-border e-commerce transactions to increase by more than 30%, strengthen market development such as the "Belt and Road" and RCEP, and accelerate the development of intermediate goods trade.

In general, in the New Year's development plan of the three provinces and one city, the same or different "plays" all reveal a common idea -Under the innovation-driven transformation, government investment will drive economic development。 Government investment to drive the economy is an "old way", which has effectively driven the take-off of China's economy, and the investment structure shows the characteristics of tending to real innovation industries. It is worth noting, however, that the implementation of government investment depends on good fiscal and financial conditions.

In the current Chinese governmentThe size of the debt is highAgainst the backdrop of high currency issuance and internal and external pressure on the RMB, the actual implementation of the new investment-driven economic policy and its cascading effect on the economic and financial system deserve continuous attention. The effectiveness of strong industrial policies on the development of innovative industries also needs to be tested in practice.

(Intern Huang Bingyu also contributed to this article)

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