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456 81 Reporting to Yao Yilin on the Development of Pudong1 March 29, April 2, April 7, 1990 From March 28 to April 8, 1990, on behalf of the Party Central Committee and the State Council, Vice Premier Yao Yilin led a delegation to Shanghai that included leading members from the State Council Office of Special Economic Zones, the State Planning Commission, the Ministry of Finance, the People’s Bank of China, the Ministry of Foreign Economic Relations, the Ministry of Commerce, and the Bank of China. They conducted special studies and discussions on issues concerning Pudong’s development and drafted a report to the Party Central Committee and the State Council titled “An Outline Work Report on Several Issues Regarding the Development of Pudong in Shanghai.” 1. March 29, 1990 When it comes to raising the issue of Pudong’s development, [Wang] Daohan2 is the most zealous of all; he’s much more zealous than I am. However, it was [Chen] Guodong3 who first raised the subject, and we presented two reports on this matter to Deng Xiaoping and Yang Shangkun during their recent visit to Shanghai. The first issue to consider is what direction Shanghai will take and the exact strategic position the central government is assigning to it. The second issue is that developing Pudong provides a way out [of Shanghai’s difficulties] and we must further open up. I agree with this view, as does [Hu] Lijiao.4 I also think that to solve Shanghai’s problems, it won’t work to try to get something from the central government, or to depend on other provinces and municipalities. 1. These are Zhu Rongji’s main comments on the work reports covering the basic concepts and master planning for Pudong’s development that the Shanghai Municipal Party Committee and the Shanghai municipal government submitted to Yao Yilin. The remarks were made on three separate occasions. 2. See chapter 11, note 2. 3. See chapter 28, note 4. 4. See chapter 78, note 3. Zhu_Shanghai Years_1987-1991_hc_9780815731399_i-xii_1-620.indd 456 12/26/17 12:01 PM Reporting to Yao Yilin on the Development of Pudong 457 They won’t even give us cotton anymore, for example. In 1987 all 300,000 tons were allocated; in 1988 we received 200,000 tons only after a tremendous effort by the central government; in 1989 we received only 150,000 to 160,000 tons, or one-half; this year we estimate we’ll only receive one-third. If the textile industry continues to shrivel up like this, it will be impossible for Shanghai to meet its target of having textiles account for 40% of its exports. Given this trend, it won’t work to rely on the central government or try to make it reduce Shanghai’s export target in its budget. The problem now is that you wish Shanghai to make a greater contribution, but we can only do as much as we are capable of. Of course we will still have to rely on fellow provinces and municipalities, but this is increasingly difficult. After thinking it over, I’m wondering if we can forge a way out through an externally oriented economy, because Shanghai is already inextricably tied to an externally oriented economy —a third of our products are exported. If we don’t export, we won’t survive , and we won’t even have the forex to import raw materials. Besides, we have a unique problem: at present Shanghai has US$2.7 billion in foreign debt, and of this amount, US$700 million was borrowed to build tourist hotels. Now no visitors are coming, so how are we supposed to repay these debts? It looks as though the only way to get Shanghai out of its current dilemma is to open up further and develop Pudong. At the same time, Pudong’s development is bound up with that of Shanghai—without dispersing to Pudong, we can’t solve Shanghai’s traffic and housing problems. But to disperse to Pudong, we must solve the problem of river crossings. Only by linking the development of Pudong to Shanghai’s growth can we ease Shanghai’s present dilemmas. Another consideration of ours is that Shanghai is “living in an inopportune time,” in view of which we hope the central government will give us some preferential policies. We are laying a foundation during this period. If we don’t have such a period, foreign businessmen won’t come. That’s...


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