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Foreign Direct Investment Inflows and Economic Development: The Case of Shenzhen Special Economic Zone in China

Foreign Direct Investment Inflows and Economic Development: The Case of Shenzhen Special... I. INTRODUCTION The Chinese government has tried hard to attract FDI since the economic reform in 1979. The amount of FDt flows into China increased from US$0.9 billion in 1983 to US$69.5 billion in 2006. In the meantime, the annual average real economic growth rate during the period 1979-2006 reached 9.1 percent. The share of the primary sector in GDP decreased from 30 percent in 1980 to 12 percent in 2006, while that of the secondary sector increased a little bit from 48 percent to 49 percent during the same period. As a result of rapid industrialization, the ratio of manufactured exports/total exports increased from 50 percent in 1980 to 95 percent in 2006. The exports/GDP ratio, which was lower than 10 percent until 1985, increased to as high as 37 percent in 2006. FDI flows into China enabled such a rapid economic development (sources: UNCTAD, World Investment Report 2007; State Statistics Bureau, 2005 and 2007). The measures used by the Chinese government to attract FDI were apparently headed by the establishment of the Special Economic Zones (SEZS) since 1979. The SEZS were provided appropriate infrastructure and various tax incentives. Of several SEZS, Shenzhen SEZ has been noteworthy http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of World Investment and Trade Brill

Foreign Direct Investment Inflows and Economic Development: The Case of Shenzhen Special Economic Zone in China

Journal of World Investment and Trade , Volume 9 (4): 13 – Jan 1, 2008
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References (11)

Publisher
Brill
Copyright
Copyright © Koninklijke Brill NV, Leiden, The Netherlands
ISSN
1660-7112
eISSN
2211-9000
DOI
10.1163/221190008X00098
Publisher site
See Article on Publisher Site

Abstract

I. INTRODUCTION The Chinese government has tried hard to attract FDI since the economic reform in 1979. The amount of FDt flows into China increased from US$0.9 billion in 1983 to US$69.5 billion in 2006. In the meantime, the annual average real economic growth rate during the period 1979-2006 reached 9.1 percent. The share of the primary sector in GDP decreased from 30 percent in 1980 to 12 percent in 2006, while that of the secondary sector increased a little bit from 48 percent to 49 percent during the same period. As a result of rapid industrialization, the ratio of manufactured exports/total exports increased from 50 percent in 1980 to 95 percent in 2006. The exports/GDP ratio, which was lower than 10 percent until 1985, increased to as high as 37 percent in 2006. FDI flows into China enabled such a rapid economic development (sources: UNCTAD, World Investment Report 2007; State Statistics Bureau, 2005 and 2007). The measures used by the Chinese government to attract FDI were apparently headed by the establishment of the Special Economic Zones (SEZS) since 1979. The SEZS were provided appropriate infrastructure and various tax incentives. Of several SEZS, Shenzhen SEZ has been noteworthy

Journal

Journal of World Investment and Trade – Brill

Published: Jan 1, 2008

Keywords: Key words: Shenzhen, special economic zone, economic development.

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