Shenzhen Unveils Market Entry Loosening Measures, Targets Data as a Factor of Production

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The southern Chinese tech hub of Shenzhen has issued new rules that loosen restrictions on entry into key areas of the tech sector.

The Shenzhen municipal government issued the “Several Special Measures on Loosening Market Entry Standards” (关于深圳建设中国特色社会主义先行示范区放宽市场准入若干特别措施的意见) on 26 January, for the purpose of “advancing reform and opening at a higher level.”

The Measures loosen market entry requirements for key areas of the digital economy, including trading of data as a factor of production and cross-border data operations, while also calling for the establishment of electronic component and integrated circuit trading platforms.

With regard to the financial sector, the Measures call for raising agricultural product supply chain capabilities, further integrating the Greater Bay Area of Guangdong, Hong Kong and Macau, and raising the convenience of systems for the settlement of cross-border trade.