In September, China’s State Council approved Zhengzhou as one of 10 pilot zones for comprehensive market-oriented reforms in resource allocation. To implement national directives, the Henan Provincial Government recently released the "Zhengzhou Market-Oriented Resource Allocation Comprehensive Reform Pilot Work Plan," aiming to develop replicable institutional innovations.

**Key Highlights of the Plan:**

### **1. Promoting Innovation in Technology Markets** - **Strengthening IP Protection & Commercialization:** - Establish pilot units for reforming rights over scientific achievements (usage, disposal, and profit-sharing). - Create a technology transfer center and improve mechanisms for shared IP ownership and revenue distribution. - Empower universities, research institutes, and medical institutions to autonomously manage and commercialize their IP.

- **Optimizing Innovation Resource Allocation:** - Build 30 pilot verification and testing bases for advanced manufacturing, biomedicine, and new materials. - Develop market-driven evaluation systems for scientific achievements.

- **Merging Technology & Capital Markets:** - Support fintech reforms, including specialized tech insurance and debt-to-equity funds. - Launch the Zhengzhou M&A Fund to facilitate corporate restructuring. - Expand "Zhengchuangtou," a venture capital roadshow platform, to connect startups with investors.

### **2. Enhancing Land Use Efficiency** - **Industrial Land Reforms:** - Introduce flexible leasing models (long-term leases, rent-to-own) to lower initial costs for businesses. - Implement "standard land" sales with pre-approved zoning and environmental benchmarks.

- **Revitalizing Underutilized Land:** - Identify and repurpose inefficient land through redevelopment plans. - Promote mixed-use zoning to support industrial upgrades.

### **3. Labor & Talent Mobility Reforms** - **Residency Policy Relaxation:** - Ease household registration (hukou) requirements for rural migrants and long-term residents. - Integrate residency permits with ID cards to streamline access to public services.

- **Talent Incentives:** - Allow universities and firms to set up independent salary systems. - Launch a "Zhengzhou Skills Points" program linking vocational training to benefits like housing and education.

### **4. Data Market Development** - **Public Data Sharing:** - Open datasets in healthcare, transport, and meteorology via a provincial platform. - Establish a unified data registry and valuation framework.

- **Regulating Data Transactions:** - Draft rules for data trading, covering rights, compliance, and risk management. - Pilot secure data-sharing models in finance, healthcare, and logistics.

### **5. Capital Market Reforms** - **Boosting Equity Financing:** - Support local firms in listing via regional exchanges, the New Third Board, and international markets. - Expand Zhengzhou Commodity Exchange’s global influence in futures trading (e.g., PTA, peanuts).

- **Green & Tech Finance:** - Launch intellectual property and data asset securitization. - Introduce "Tech Talent Loans" tailored to innovators’ profiles.

### **6. Green Resource Trading** - **Carbon & Emissions Markets:** - Enforce carbon quota compliance and explore emission trading. - Test pollution rights trading and eco-development (EOD) projects.

### **Implementation & Oversight** A dedicated task force will oversee reforms, coordinate with central ministries, and assess progress. Zhengzhou is encouraged to pioneer localized solutions and share best practices nationally.

The plan underscores Zhengzhou’s push to become a hub for innovation, efficient resource use, and market-driven growth.