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The Shenzhen Special Economic Zone (Chinese: 深圳经济特区) is a special economic zone (SEZ) of China. One of four special economic zones (SEZ) established in May 1980, it was the first SEZ created by Deng Xiaoping , [ 1 ] and, like the other three zones, was modeled after Ireland 's Shannon Free Zone .
It transformed from 126 square miles of villages into a business metropolis. [19] As seen by the table below, the ten years of economic reform from 1980 to 1990 increased population in Shenzhen by six-fold, GDP by around sixty-fold, and gross industrial output by two-hundredfold. Before 1980, Shenzhen's GDP was just 0.2 percent of Hong Kong's.
Shenzhen was the first of the Special Economic Zones (SEZ) to be established by then paramount leader Deng Xiaoping. [97] [38] Back to Apr 1979, Shenzhen was reformed as a Special Export Zone to create a favorable investment environment and introduce advanced technology and management experience, later renamed to Special Economic Zone in May ...
The definition of an SEZ is determined individually by each country. According to the World Bank in 2008, the modern-day special economic zone typically includes a "geographically limited area, usually physically secured (fenced-in); single management or administration; eligibility for benefits based upon physical location within the zone; separate customs area (duty-free benefits) and ...
Learning from Shenzhen: China's Post-Mao Experiment from Special Zone to Model City is a 2017 collection of essays, co-edited by Mary Ann O'Donnell, Winnie Wong, and Jonathan Bach, and published by the University of Chicago Press.
First edition. The Shenzhen Experiment: The Story of China's Instant City is a 2020 non-fiction book by Juan Du, published by Harvard University Press.. Du argued that there was a misconception that Shenzhen was built almost entirely by the central government when officials from Guangdong province had first advocated for the idea of making Shenzhen a "special economic zone".
Other reforms have transferred state-owned assets to social-security funds to help finance pensions, and the Shenzhen municipal government has proposed using their state-owned enterprises to finance a social dividend-type of system for its residents.
Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone is a large masterplanned commercial free trade zone comprising 14 km 2 (5.4 sq mi) of reclaimed land under construction in Qianhai, Nanshan. Upon scheduled completion in 2020, special policies including lower taxation rates would be implemented in the new district.