Pioneering economic reforms in China's special economic zones: the promotion of foreign investment and technology transfer in Shenzhen
This book examines the performance of China's Special Economic Zones, particularly in attracting foreign investment and promoting technology transfer, through an in-depth case study of the largest zone - Shenzhen. The major theme is that spatial placement and unique planning activities are more important in explaining their performance than is acknowledged in existing literature. The significant growth of foreign investment has been primarily a positive function of proximity to major sources, in physical, economic, cultural and political terms; and has been positively related to the favourable local policy environment. Labour cost differentials and domestic market potential, in contrast to traditional 'neoclassical' investment theory, have only been residual factors. The growth of foreign investment, however, has not led to meaningful technology transfer, primarily because of the low-tech nature of foreign investment and lack of protection for intellectual property rights. The growth of foreign investment also has not been accompanied by substantial net exports and creation of domestic linkages, mainly due to the high import propensity of foreign enterprises and limited domestic supply capabilities.
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Conceptual and Policy Context
Local Policy Environment and Labor Costs
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advanced technology Asian attracting foreign investment Bank Beijing capital central government China China's SEZs Chinese coastal open cities contract developing countries domestic linkages domestic market potential enterprises in Shenzhen EPZs established factors Foreign Direct Investment foreign investment inflows Fujian garments Guangdong Province Guangzhou Hong Kong firms Hong Kong investment import propensity incentives income industrial relocation inland areas inland enterprises Investment in China investment in Shenzhen investors Japanese joint ventures Kong's labor costs labor-intensive loans machinery major manufacturing industries metal products million output value overseas Chinese particularly Pearl River Delta percent personal interviews political profits promoting foreign investment raw materials reform region sector SEZ policy Shanghai share Shenzhen Statistical Bureau Shenzhen total Shenzhen's Industrial Singapore sources South Korea Special Economic Zones Table Taiwan technology transfer textiles & dyeing Tianjin TNCs transportation U.S. dollars utilized foreign investment wages workers yuan
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The New Chinese City: Globalization and Market Reform
No preview available - 2002