The construction of the Shenzhen demonstration pilot zone for socialism with Chinese characteristics is of great significance for deepening reform and creating a new pattern of opening-up in an all-around way. Beijing Youth Daily comments:

The State Council, China's Cabinet, recently issued guidance on supporting Shenzhen in building a demonstration pilot zone for socialism with Chinese characteristics.

According to the document, the construction of Shenzhen demonstration pilot zone for socialism with Chinese characteristics aims to deepen reform and expand opening-up. This move is conducive to the Guangdong-Hong Kong-Macao Greater Bay Area development plan and the practice of "one country, two systems", and to exploring a new approach of comprehensively building a great modern socialist power.

As the pioneer of China's reform and opening-up, Shenzhen has always been the "experimental field" for reform and opening-up, and has made great achievements in recent decades. Building a demonstration pilot zone for socialism with Chinese characteristics is the new mission that the central government gives this vigorous and innovative international city.

The top priority for the new demonstration pilot zone is to support the construction of the Guangdong-Hong Kong-Macao Greater Bay Area.

The new demonstration pilot zone will improve urban functions, continuously extend the opening-up to Hong Kong and Macao, and help residents of the special administrative regions that live and work in Shenzhen enjoy better livelihoods, which is expected to further enhance Hong Kong and Macao people's sense of identity and cohesiveness.

Meanwhile, it will promote the highly efficient and convenient flow of talent, capital, technology and information, which will help build Shenzhen into an innovative national and even global financial center.

The new demonstration pilot zone will accelerate the implementation of an innovation-driven development strategy to build Shenzhen into a comprehensive national science and technology center. And many significant innovation platforms including ones for 5G, artificial intelligence and cyberspace technology will be built in Shenzhen.

These moves will encourage enterprises to enhance their investment in technology and innovation, which will be conducive to promoting China's economic development.