Title: The Development of China’s Special Economic Zones | Internships China
Headings: SEZs for China’s Economic Growth
The Development of China’s Special Economic Zones
SEZs for China’s Economic Growth
The Fast Development of Shenzhen
Attract Foreign Investments
Special Economic Zones Classifications
Economic and Technological Development Zones (ETDZ)
Free Trade Zones (FTZ)
The Growth of Free Trade Zones Across China
Free Trade Zone Investment Restrictions

Content: Some of its benefits are less restrictions on customs and business registration, fastest foreign investments approvals, big discounts on import and export sales, and more lenient trade regulations. Each zone has its own industry and development focus, supported with corresponding policies. The FTZs have done well when it comes to attracting foreign investment, contributing significantly to China’s economic growth and development. Within only the first half of 2016, close to five thousand companies were established among the four FTZs, with investments adding up to 359 billionRMB. In 2016 the four FTZs attracted 81.3% more foreign investment compared to the previous year, an estimated figure of 87.96 billionRMB. By 2017 more than 1 trillion RMB in value has been imported or exported through Shanghai’s free trade zone alone. The Growth of Free Trade Zones Across China
Shanghai Yangshan Deepwater Port
On the 31 st of March 2017, the Chinese State Council announced the approval of seven new FTZs, bringing the total number up to eleven. These new FTZs will not be like the previous ones, as they are not going to be located in the coastline, but instead in China’s interior in underdeveloped areas. This change comes with strategic reasons for China. Firstly, the Chinese government uses these new FTZs to stimulate regional economic development and develop its interior.