China’s Special Economic Zones (SEZs)

China's Special Economic Zones (SEZs) are designated areas within the country that have different economic regulations compared to the rest of China. Established in the late 1970s, these zones aim to attract foreign investment, boost economic growth, and encourage innovation by offering tax incentives and reduced regulations. Successful examples include Shenzhen and Zhuhai, which transformed from small towns into bustling cities. SEZs have played a crucial role in China's rapid economic development, facilitating international trade and creating job opportunities while serving as testing grounds for more extensive market reforms.