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China's Specialised Economic Zones
China's Specialised Economic Zones
China's Special Economic Zones (SEZs) were established in the late 1970s as a key
component of the country's economic reform and opening-up policy. The idea behind
SEZs was to create designated areas where the Chinese government could experiment with
market-oriented economic reforms and attract foreign investment, technology, and
expertise. The primary objectives and principles behind China's SEZs include:
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HSC Economics 2024
Economic Success Showcase: The success of SEZs, particularly Shenzhen, served as a
showcase of China's economic potential. The prosperity of these zones attracted
global attention and encouraged further investment in the country.
Replicating Success Nationwide: The success of SEZs led to the gradual expansion of
market-oriented reforms and incentives across China, eventually contributing to the
country's transformation into a major global economic player.
Overall, the idea behind China's Special Economic Zones was to create controlled
environments where the Chinese government could experiment with economic and social
reforms, attract foreign investment, and drive economic growth. These zones played a
pivotal role in China's economic development and its emergence as a global economic
powerhouse.
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HSC Economics 2024