China's Special economic zones create economic miracles
中国经济特区创造经济奇迹

The setting up of special economic zones was one of the most important reforms enacted by the government, as part of the decision to open up the economy. These are zones where foreign investors enjoy many preferential policies. In the past three decades, these special economic zones have created economic miracles that are envied by the world.

In 1980, the State Council approved the establishment of the Shenzhen SEZ in Guangdong Province, the first of its kind in China. Once a small fishing village, the Shenzhen SEZ has evolved into a metropolis and is also the birthplace of many high-tech enterprises. Cities in China's Eastern Provinces like Zhuhai, Shantou and Xiamen were also approved for the setting up of SEZs. Eight years later, the entire province of Hainan was designated as China's largest special economic zone.

Meanwhile, China opened 14 other cities to overseas investment in 1984. Most of the cities were located along China's east coastal regions. As a result, China's economy has regained vitality and the rapid development of the national economy has also enhanced the country 's overall strength and raised the people's standard of living.