Special Economic Zones and the Economic Transition in China

by Ge, Wei

• ISBN13: 9789810237905
• ISBN10: 9810237901
• Format: Hardcover
• Copyright: 1999-08-01
• Publisher: WORLD SCIENTIFIC PUB CO INC

Summary

This book examines China's economic development since 1949, with special emphasis on the economic transition of the past two decades and the role of special economic zones in this gradually evolving process. Various issues concerning the formation of the zones are explored. The performance of the zones and their impacts on the Chinese economy and the transitional path are assessed in aspects such as economic growth, structural changes, investment financing, employment and wages, technology transfers and learning, productivity gains, standards of living, trade expansion and the changing pattern of foreign investment. The implications of the special economic zones as a policy instrument to facilitate the process of economic transition and development, as well as the relevant policy issues, are examined.

Table of Contents

Foreword	v
Acknowledgements	vii
Introduction	1	(10)
Two-Decade Development: A Brief Account	1	(4)
Economic Transition and Special Economic Zones	5	(3)
The Scopes of the Study	8	(3)
Why a Special Economic Zone?	11	(34)
The Chinese Economy in the Pre-Reform Era A History Background	12	(12)
Installation of a Central Planning System	13	(5)
Progress Made During the Pre-Reform Era	18	(3)
Economic Structural Changes	21	(3)
Issues Brought to Light in the Pre-Reform Development	24	(15)
Development Strategy and Sectoral Relationships	24	(5)
Accumulation and Consumption	29	(3)
The Source of Economic Growth and Efficiency	32	(2)
Economic Independence and Resource Utilization	34	(5)
Initiation of Economic Reform and Opening-Up Policies	39	(6)
Establishment of Special Economic Zones	45	(22)
Formation of Special Economic Zones	45	(3)
Objectives and the Economic Structure of Special Economic Zones	48	(2)
Policies and Regulations	50	(4)
Prototype Arrangement with Foreign Investor	54	(5)
Development of Infrastructure	59	(8)
The Performance of Special Economic Zones	67	(42)
Growth Pattern and Economic Structure	68	(5)
Utilization of Foreign Capital	73	(10)
Labor Employment and Wages	83	(8)
Productivity	91	(6)
Foreign Trade	97	(5)
Standards of Living	102	(7)
Impacts of Special Economic Zones on the Chinese Economy	109	(32)
Gains from the Special Economic Zones	109	(3)
Promotion Regional Development	112	(3)
Employment and Resource Utilization	112	(1)
Capital Formation and Technology Transfer	113	(1)
Trade Expansion	114	(1)
Opening of the Economy	115	(20)
Opening as a Gradual Process	116	(2)
Utilization of Foreign Capital	118	(8)
Trade Development	126	(9)
Economic Reforms	135	(6)
Special Economic Zones in the 1990s: The Pudong New Area	141	(30)
Establishment of Pudong New Area	141	(3)
Infrastructure Development and Financing	144	(4)
Foreign Investment	148	(4)
Pattern of Trade	152	(4)
Emergence of Non-State Sector	156	(3)
Economic Growth and Structural Changes	159	(12)
Policy Lessons and Concluding Remarks	171	(12)
Factors Required for a Successful Special Economic Zone Operation	171	(2)
Links between Special Economic Zone and Domestic Economy	173	(1)
Special Economic Zone and Economic Transition	174	(9)
The Types of Foreign Investment Matter	175	(2)
Economic Transition and Sequencing	177	(2)
A Note on Economic Transition and Development	179	(4)
Bibliography	183	(6)
Index	189