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Farhan Ali Business in PacificMost of China's five special economic zones are located in southeast China. (1) The 327.5-square-kilometre Shenzhen Special Economic Zone is located in the south of Guangdong Province, bordering Hong Kong's Kowloon. (2) The Shantou Special Economic Zone is located in the southeast of Guangdong Province. It is divided into two parts: Longhu in the eastern suburbs of Shantou, occupying 22.6 square kilometres, and Guang'ao Peninsula to the southeast of Shantou, occupying 30 square kilometres. (3) The 121-square-kilometre Zhuhai Special Economic Zone is located in the south of Guangdong Province, west of the estuary of the Pearl River,
98 billion, the highest total of any Chinese city. The 14 open coastal cities play the dual roles of "windows" opening to the outside world and "radiators" spreading economic development in building up the export-oriented economy. ------------------------------------------------------------------------**Bibliography**. (5) The 34,000-square-kilometre Hainan Special Economic Zone, China's largest, encompasses the entire island province located to the south of China's mainland. For example, foreign investors enjoy more favourable tax rates in the special economic zones than in inland areas; entry and exit procedures for foreign businesspeople have been relaxed to expedite their passage to and from the country; and significantly, the state has increased the parameters of the special economic zones' right to independent economic management. By the end of 1993, the open coastal cities had approved 6,211 foreign-invested projects, and US$4. In recent years, foreign investment in these areas has accounted for 80 percent of foreign investment. Special economic zones have been established to !attract foreign investment, to import advanced techniques, to keep current with trends and activity in international markets, to expand export trade, to stimulate foreign exchange earnings, to facilitate participation in international economic and technological cooperation and to provide a training ground for scientific and technological personnel specializing in international economics and trade. Since their establishment, the five special economic zones have continually led the nation in the pace of economic development. Primarily geared towards exporting processed goods, the special economic zones integrate science and industry with trade, and benefit from preferential policies and special economic managerial systems intended to facilitate the export orientation. The economic and technological development zones estabished in these open cities have become hot spots for foreign investment. (4) The 131-square- kilometre Xiamen Special Economic Zone, including Xiamen Island and Gulang Islet, is located in the city of Xiamen, Fujian Province. The coastal areas centred on seven open coastal economic zones have become the most active place for foreign investment. China's special economic zones are opening wide and offering preferential conditions to foreign investors.
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