Both the central government and local governments are important subjects for policy experimentation,within which their roles have a logic of mutual conversion.Factors such as policy goals,politics,risks,costs,and benefits have a significant impact on the transformation of their roles.When policy objectives are vague,the central government will delin-eate political risk red-lines,using risk investment strategies.However,when clear policy objectives and controllable risks are presented,the central government will provide a top-level design.After considering a local government's resources and risk exposure,the center will choose a single"point"strategy.Shenzhen's experience with policy experimentation provides ample evidence of the phenomenon.
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