CHINA'S EXPERIENCE IN DEVELOPING FREE ECONOMIC ZONES IN THE COUNTRY
Keywords:
China, SEZ, economy, production, industrial economy, economic growthAbstract
This research explores China’s strategic implementation of Free Economic Zones (FEZs) as a catalyst for economic reform and globalization since the late 1970s. The study examines the establishment of the first FEZ in Shenzhen, which served as a model for subsequent zones across the country, facilitating foreign investment, technology transfer, and export-oriented growth. It analyzes the regulatory frameworks, incentives provided to businesses, and the socio-economic impacts on local communities. Furthermore, the research highlights challenges faced by these zones, including environmental concerns and income inequality, while assessing their role in China’s broader economic transition towards a market-oriented economy. By comparing various FEZs within China and their outcomes, this study aims to provide insights into effective policies that can be adapted by other nations seeking similar economic development strategies.
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