Concessions in China

Concessions in China refer to specific areas or zones where foreign businesses are granted special privileges, such as eased regulations, reduced tariffs, or exclusive rights, to promote economic cooperation and investment. Historically established during the 19th and early 20th centuries, these zones allowed foreign powers to operate with different legal and economic rules. Today, concessions often serve as open cities or industrial parks to attract foreign investment, facilitating trade, technology transfer, and economic development within a regulated framework that balances opening markets with national interests.