Special Economic Zones
-1979 four special economic zones were opened for trade and investment with the west
-Foreign firms were allowed to operate here
-Cheap labor was provided
-New technology and management practices were introduced
-Most firms come from Hong Kong to take advantage of the cheap labor
-Foreign firms were allowed to operate here
-Cheap labor was provided
-New technology and management practices were introduced
-Most firms come from Hong Kong to take advantage of the cheap labor
summary
Special economic zones are any of several localities in which foreign and domestic trade and investment are conducted without the authorization of the Chinese central government in Beijing. Special economic zones are intended to function as zones of rapid economic growth by using tax and business incentives to attract foreign investment and technology.