China’s Special Economic Zones

Shenzen at Night

Economic Development (China in Brief)

China began to reform the national economic setup in 1978. Here is a summary

1980: China established five special economic zones,

1. Shenzhen, Guangdong Province
2. Zhuhai, Guangdong Province
3. Shantou, Guangdong Province
4. Xiamen, Fujian Province
5. Hainan province
   

1984: Opened 14 coastal cities—Dalian, Qinhuangdao, Tianjin, Yantai, Qingdao, Lianyungang, Nantong, Shanghai, Ningbo, Wenzhou, Fuzhou, Guangzhou, Zhanjiang and Beihai—to overseas investment.

1985: extended the open economic zones of the Yangtze River Delta, Pearl River Delta, Xiamen-Zhangzhou-Quanzhou Triangle in south Fujian, Shandong Peninsula, Liaodong Peninsula, Hebei and Guangxi into an open coastal belt.

1990: Opened the Pudong New Zone in Shanghai to overseas investment, and opened more cities in the Yangtze River valley.

1992: the State Council has opened a number of border cities, and in addition, opened all the capital cities of inland provinces and autonomous regions.

In addition,

• 15 free trade zones,
• 32 state-level economic and technological development zones,
• 53 new- and high-tech industrial development zones

have been established in large and medium-sized cities.

The five special economic zones are foreign-oriented areas which integrate science and industry with trade, and benefit from preferential policies and special managerial systems. The Shanghai Pudong New Zone has made great progress in both absorbing foreign capital and accelerating the economic development of the Yangtze River valley.

The 5,900 foreign-funded enterprises have formed six pillar industries:

1. automobiles and spare parts and components
2. microelectronics and computers
3. household electrical appliances
4. bio-medicines
5. optical, mechanical
6. Electrical products