The economic development zones across the province have received a major boost from streamlining administration, delegating power and strengthening regulation in a bid to advance administrative reform and transform government functions.
In 2016，131 provincial level economic development zones in Jiangsu contributed half of the province’s economic aggregate, 55.2% of the province’s fiscal revenue and 80.3% of the province’s industrial added value to become the accelerators behind regional economic growth and the incubators for the accelerated pace of urbanization.
For years, excess intervention and stifling supervision by the government over microeconomic activities as well as too much emphasis on review and approval to the neglect of regulation have sapped economic vitality, incurred high administrative costs and provided breeding grounds for corruption.
To streamline administration, delegate power and strengthen regulation is a crucial step to address these acute problems. It tackles the crux of administrative and economic reform and what matters the most in improving the socialist market economy and enhancing social development.
It is fair to say that this reform is right at the heart of all reforms with wide-ranging implications.
