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The Special Economic Zones of China (SEZ) are designated zoned areas in China with unique economic policies and regulations often for business with foreign nations and enterprise. These zones typically foster more free-market -oriented business regulations compared to the rest of the country.
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. [2]
A special economic zone (SEZ) is an area in which the business and trade laws are different from the rest of the country. SEZs are located within a country's national borders, and their aims include increasing trade balance, employment, increased investment, job creation and effective administration.
China's first Securities Law was passed December 1998, and became effective July 1, 1999. The nation's first comprehensive securities legislation, it grants CSRC "authority to implement a centralized and unified regulation of the nationwide securities market in order to ensure their lawful operation". [7]
Free trade areas are set up between countries; for example, the Latin America Free Trade Association (LAFTA) was created in the 1960 Treaty of Montevideo by Argentina, Brazil, Chile, Mexico, Paraguay, Peru, and Uruguay; and the North American Free Trade Agreement was established between Mexico, the United States, and Canada. In free trade areas ...
It is similar to the special economic zones of China and elsewhere, set up to pilot market economics in a designated controlled area. Foreign currency may be used in the zone. [3] Chinese and Russian companies have invested in the special economic zone, and Mongolia joined in about 2013. [4]
Negative list is a management model of foreign investment established in China and legalized by the Foreign Investment Law of the People's Republic of China, which comes into effect on January 1, 2020. It refers to special administrative measures for the access of foreign investment in certain industries or areas.
In Nepal SEZs laws were formulated in 2016 in the form of Special Economic Zone Act (2016). The laws were subsequently revised in 2019. [39] The industries inside the Special Economic Zones are given various facilities and in return they have to commit to export a minimum of 60% of their production to the foreign market. [40]