China's Special Economic Zones

China's Special Economic Zones (SEZs) are designated areas where the government has established more flexible economic policies to attract foreign investment, encourage exports, and promote economic growth. These zones offer benefits like tax incentives, simplified customs procedures, and less restrictive regulations compared to other parts of the country. Established starting in the late 1970s, SEZs such as Shenzhen and Zhuhai played a crucial role in transforming China into a global economic powerhouse by fostering industrial development, innovation, and trade. They serve as testing grounds for economic reforms that can later be expanded nationwide.