This annual report presents an overview of the development of China’s special economic zones in 2021, including reform pilot zones and some new special zones, from the perspective of the overall national development strategic planning. It takes the development status, comparative analysis and policy suggestions of the special zones as the starting point, summarizes and analyzes the transformation problems, carbon production and sustainable development problems, scientific and technological innovation problems, social security problems, employment service problems, financial system reform problems, cultural industry problems, and puts forward suggestions for development.

This report focuses on special economic zones (SEZs) which are widely used across most developing and many developed economies. It explores the place of SEZs in today's global investment landscape and provides guidance for policymakers on how to make SEZs work for sustainable development. It presents international investment trends and prospects at global, regional and national levels, as well as the evolution of international production and global value chains. It analyses the latest developments in new policy measures for investment promotion, facilitation and regulation around the world.

Special economic zones (SEZs) are important doorways for countries to attract foreign investment and promote trade. A strong correlation between the creation of SEZs and economic development indicators has also been identified in previous studies, at the municipal level, in China. Thus, the fundamental question that needs to be explored is to what extent SEZs can play the role of development enablers in different regions, development states, and institutional settings. The Handbook of Research on Special Economic Zones as Regional Development Enablers discusses the diverse and international track records in the implementation of SEZs, the interplay of SEZ models and local institutional infrastructure and stakeholders, and the SEZ models that can best fit certain development states and/or settings. Covering topics such as the Belt and Road Initiative, local and national economies, and regional integration, this book is essential for government officials, development officers, scholars, students, researchers, entrepreneurs, public decision makers, aid agencies, company executives, investors, and academicians.

In the past 30 years, China has achieved an unprecedented development 'miracle' in human history. How did China achieve this? What are the key drivers for such a rapid growth? And most importantly, what can be learned from China s success? While many factors could be identified to explain China's success, it is no doubt that the numerous Special Economic Zones (SEZs) and industrial clusters that emerged after the country s reforms are two important engines that have been driving China s rapid development. The key experiences of China's SEZs and industrial clusters could be best summarized as: gradualism with experimental approach; strong commitment; and an active facilitating state with strong pragmatism. This book reviews the development experiences of China's SEZs and industrial clusters through extensive research, field visits, and case studies in an attempt to benefit the policy-makers, development practitioners, scholars from developing countries, and the global development community in general. It contains five detailed case studies three SEZs in the broadest sense (Shenzhen, Tianjin and Kunshan) and two industrial clusters (Wenzhou footwear cluster in Zhejiang and Xiqiao textile cluster in Guangdong). This volume represents the most comprehensive volume to date on China's experiences with both its SEZ and cluster experiences.

A recovery is underway, but the economic fallout from the global pandemic could be with us for years to come. With the crisis exacerbating prepandemic vulnerabilities, country prospects are diverging. Nearly half of emerging market and developing economies and some middle-income countries are now at risk of falling further behind, undoing much of the progress made toward achieving the UN Sustainable Development Goals.

Prior to the initiation of economic reforms and trade liberalization 36 years ago, China maintained policies that kept the economy very poor, stagnant, centrally-controlled, vastly inefficient, and relatively isolated from the global economy. Since opening up to foreign trade and investment and implementing free market reforms in 1979, China has been among the world's fastest-growing economies, with real annual gross domestic product (GDP) growth averaging nearly 10% through 2016. In recent years, China has emerged as a major global economic power. It is now the world's largest economy (on a purchasing power parity basis), manufacturer, merchandise trader, and holder of foreign exchange reserves.The global economic crisis that began in 2008 greatly affected China's economy. China's exports, imports, and foreign direct investment (FDI) inflows declined, GDP growth slowed, and millions of Chinese workers reportedly lost their jobs. The Chinese government responded by implementing a $586 billion economic stimulus package and loosening monetary policies to increase bank lending. Such policies enabled China to effectively weather the effects of the sharp global fall in demand for Chinese products, but may have contributed to overcapacity in several industries and increased debt by Chinese firms and local government. China's economy has slowed in recent years. Real GDP growth has slowed in each of the past six years, dropping from 10.6% in 2010 to 6.7% in 2016, and is projected to slow to 5.7% by 2022.The Chinese government has attempted to steer the economy to a "new normal" of slower, but more stable and sustainable, economic growth. Yet, concerns have deepened in recent years over the health of the Chinese economy. On August 11, 2015, the Chinese government announced that the daily reference rate of the renminbi (RMB) would become more "market-oriented." Over the next three days, the RMB depreciated against the dollar and led to charges that China's goal was to boost exports to help stimulate the economy (which some suspect is in worse shape than indicated by official Chinese economic statistics). Concerns over the state of the Chinese economy appear to have often contributed to volatility in global stock indexes in recent years.The ability of China to maintain a rapidly growing economy in the long run will likely depend largely on the ability of the Chinese government to implement comprehensive economic reforms that more quickly hasten China's transition to a free market economy; rebalance the Chinese economy by making consumer demand, rather than exporting and fixed investment, the main engine of economic growth; boost productivity and innovation; address growing income disparities; and enhance environmental protection. The Chinese government has acknowledged that its current economic growth model needs to be altered and has announced several initiatives to address various economic challenges. In November 2013, the Communist Party of China held the Third Plenum of its 18th Party Congress, which outlined a number of broad policy reforms to boost competition and economic efficiency. For example, the communique stated that the market would now play a "decisive" role in allocating resources in the economy. At the same time, however, the communique emphasized the continued important role of the state sector in China's economy. In addition, many foreign firms have complained that the business climate in China has worsened in recent years. Thus, it remains unclear how committed the Chinese government is to implementing new comprehensive economic reforms.China's economic rise has significant implications for the United States and hence is of major interest to Congress. This report provides background on China's economic rise; describes its current economic structure; identifies the challenges China faces to maintain economic growth; and discusses the challenges, opportunities, and implications of China's economic rise.

"This book, designed for policymakers, academics and researchers, and SEZ program practitioners, provides the first systematic and comprehensive analysis of SEZ programs in Sub-Saharan Africa. It is the result of detailed surveys and case studies conducted during 2009 in ten developing countries, including six in Sub-Saharan Africa. The book provides quantitative evidence of the performance of SEZs, and of the factors which contribute to that performance, highlighting the critical importance not just of the SEZ itself but of the wider national investment climate in which it functions. It also provides a comprehensive guide to the key policy questions that confront governments establishing SEZ programs, including: if and when to launch an SEZ program, what form of SEZ is most appropriate, and how to go about implementing it. Among the most important findings from the study that is stressed in the book is the shift from traditional enclave models of zones to SEZs that are integrated ? with national trade and industrial strategies, with core trade and social infrastructure, with domestic suppliers, and with local labor markets.Although the book focuses primarily on the experience of Sub-Saharan Africa, its lessons will be applicable to developing countries around the world."

How will China reform its economy as it aspires to become the next economic superpower? It's clear that China is the world's next economic superpower. But what isn't so clear is how China will get there by the middle of this century. It now faces tremendous challenges such as fostering innovation, dealing with ageing problem and coping with a less accommodative global environment. In this book, economists from China's leading university and America's best-known think tank offer in depth analyses of these challenges. Does China have enough talent and right policy and institutional mix to transit from input-driven to innovation-driven economy? What does ageing mean, in terms of labor supply, consumption demand and social welfare expenditure? Can China contain the environmental and climate change risks? How should the financial system be transformed in order to continuously support economic growth and keep financial risks under control? What fiscal reforms are required in order to balance between economic efficiency and social harmony? What roles should the state-owned enterprises play in the future Chinese economy? In addition, how will technological competition between the United States and China affect each country's development? Will the Chinese yuan emerge as a major reserve currency, and would this destabilize the international financial system? What will be China's role in the international economic institutions? And will the United States and other established powers accept a growing role for China and the rest of the developing world in the governance of global institutions such as the World Trade Organization and the International Monetary Fund, or will the world devolve into competing blocs? This book provides unique insights into independent analyses and policy recommendations by a group of top Chinese and American scholars. Whether China succeeds or fails in economic reform will have a large impact, not just on China's development, but also on stability and prosperity for the whole world.

For countries as diverse as China and Mauritius, Special Economic Zones (SEZs) have been a powerful tool to attract foreign investment, promote export-oriented growth, and generate employment; for many others, the results have been less than encouraging. While the benefits and limitations of zones will no doubt continue to be debated, what is clear is that policymakers are increasingly attracted to them as an instrument of trade, investment, industrial, and spatial policy. Since the mid 1980s, the number of newly-established zones has grown rapidly in almost all regions, with dramatic growth in developing countries. In parallel with this growth and in the evolving context of global trade and investment, zones are also undergoing significant change in both their form and function, with traditional export processing zones (EPZs) increasingly giving way to larger and more flexible SEZ models. This new context will bring significant opportunities for developing countries to take advantage of SEZs, but will also raise new challenges to their successful design and implementation. This volume aims to contribute to a better understanding of the role and practice of SEZs in developing countries, in order to better equip policymakers in making effective decisions in planning and implementing SEZ programs. It covers some of the emerging issues and challenges in SEZs including upgrading, regional integration, WTO compliance, innovation, the environment, and gender issues with practical case examples from SEZ programs in developing countries.