CHINA has been setting up economic and technological development zones (ETDZs) to boost knowledge-based and technology-intensive industries for the past decades. Typically, the governments offer preferential policies and incentives to these zones. During the country’s rapid industrialization since the adoption of the reform and opening-up policy in 1978, ETDZs have played a vital role because of their appeal to foreign investors and capability to innovate. In particular, the ETDZs at the state level have been the engines of regional economic growth.
The Ministry of Commerce on January 27 released the results of its evaluation on the performance of national ETDZs during the year 2020. According to the ministry, 218 national ETDZs across the country witnessed improving development quality and played a significant role in opening up and driving regional economies in 2020.
Vanguard of Open Economy
National ETDZs excel in industry scale, technology development, innovation capability, openness, production efficiency, growth rate, and quality.
During the country’s rapid industrialization since the adoption of the reform and opening-up policy in 1978, ETDZs have played a vital role because of their appeal to foreign investors and capability to innovate.
Different from pilot free trade zones, bonded zones or export processing zones, ETDZs focus on attracting investments in the real economy and building an open industrial system, rather than work on a special trade arrangement or a particular link along the industrial chain. In practice, areas seating national ETDZs have outperformed other regions in terms of innovation-driven development and open business environment.
This story is from the April 2021 edition of China Today (English).
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This story is from the April 2021 edition of China Today (English).
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