During the 1980s, China established the first of its Special Economic Zones with the intention of attracting and accommodating foreign businesses and investments to China. Their development and expansion—and more liberal systems and regulations—played an important part in China’s global economic transition.
China’s late-twentieth-century process of economic transition began with the establishment of what are known as special economic zones (SEZs). SEZs are geographically insulated areas opened economically to the outside world. They are regulated by