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In the Focus

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In the Focus

China Central Television: Celebrating 40 Years Of Economic Reform -- Special Economic Zones Are Carrying Out A New Mission

Jun 25, 2018 In the Focus

The following report is part of the transcript of a documentary released by China Central Television to celebrate the 40th anniversary of China's economic reform. SUSTech Professor Le Zheng was interviewed in the documentary.

In 1980, the sound of cannon in Shenzhen's Shekou Industrial District of Shenzhen marked the beginning of China's economic reform. Through the setting up of five special economic zones and innovative policies, China has successfully achieved modernization and amazed the world.

Shenzhen, Zhuhai, Shantou, Xiamen, and Hainan were designated as special economic zones in the early 1980s and took the leading role of China's economic reform. They all achieved great success despite locating in the remote coastal area: Shenzhen became the first Chinese mainland city to issue shares and is currently one of the country's leading cities; Xiamen opened the Chinese mainland's first Sino-foreign joint venture international bank and established a comprehensive partnership with Taiwan; Zhuhai was the first city to offer premium awards to technological innovations; Shantou took the lead in requiring governmental organizations to reply to public inquiries in 24 hours; and Hainan was the first to deregulate price control of goods such as steel, cement and grain.

In the new era, the abovementioned cities will carry on with their innovative spirit and take China to the next level. In Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone (Nanshan District, Shenzhen), there are on average 76 new business openings every business day and  one new innovative product release every three days. The cooperation zone will lead the development of Guangdong-Hong Kong-Macau Greater Bay Area, which aims to compare with the Silicon Valley in the future. In Zhuhai, the Hong Kong-Zhuhai-Macao Bridge will soon make its official debut as the world's longest sea-crossing bridge. Zhuhai Municipal Government also announced more than 300 favorable policies for startup businesses and enterprises. In Shantou, the Overseas Chinese Economic and Cultural Cooperation Experimental Area is under rapid construction, and will be the base of China's first Overseas-Chinese-themed over-the-counter market. In Hainan, the first intercontinental flight will begin in Sanya next month, and a free trade zone has been established in the provincial capital Haikou. Moreover, visitors from 59 countries can travel to Hainan Island without applying for Chinese visa.   

A snippet of the documentary is below (in Chinese):

 

 

English Translation by Fan Yining and Chris Edwards

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