Local residents take pictures when 2,020 drones form Chinese characters which read, "Celebrating the 40th anniversary of the establishment of Shenzhen SEZ" in the sky above Rencai Park in Shenzhen on Wednesday night.  Photo: Li Hao/GT

Shenzhen in South China's Guangdong Province, China's first special economic zone (SEZ) established in August 1980, has been playing a leading role in China's reform and opening up for 40 years, Qu Jian, vice president of the Shenzhen-based think tank China Development Institute, told the Global Times Thursday.

Shenzhen and China's other SEZs should be further strengthened so they can meet the unprecedented international challenges including Sino-US trade frictions, a sluggish world economy and the drift toward anti-globalization, Qu said.

The establishment of the SEZs opened up a new prospect for China's relations with the US and the world decades ago, Qu said. "They brought external capital to the Chinese market, and simultaneously took China's competitive labor-intensive products abroad," Qu told the Global Times in an exclusive interview Thursday, saying the SEZs have linked China to the globe with two-way interactions in investment and trade.

The current international environment, which has been impacted by Sino-US frictions in trade, science and technology, is still better than it was in the early 1980s, Qu said. How to further strengthen ties between China and the world and attract more foreign capital needs rethinking, he said.

Shenzhen could be used as a buffer zone between the China's and the world's economy, Qu added.

Shenzhen has grown faster than SEZs such as Zhuhai, Shantou and Xiamen, which were all initiated in 1980. Shenzhen's GDP reached 2.69 trillion yuan in 2019, far exceeding Zhuhai's 343.6 billion yuan, Shantou's 269.4 billion yuan and Xiamen's 599.5 billion yuan, official statistics show.

Shenzhen enjoys a unique advantage over other domestic SEZs, as it sought development in various fields, Qu told the Global Times. 

Different from some other SEZs which only focus on trade or industry while seldom seek technological breakthroughs, Shenzhen has been pushing five attributes including its labor force, capital, technology, education and institutional innovation, said Qu.

The city is playing a bigger role in leading the development of the Guangdong-Hong Kong-Macao Greater Bay Area, which is to being constructed as a pilot demonstration area for socialism with Chinese characteristics, Qu noted.

Apart from Shenzhen, all t SEZs have largely contributed to the development of their respective areas, Qu added. Zhuhai, Shantou and Xiamen are major cities in Guangdong and Fujian provinces, and they are all endowed with important missions in promoting China's future growth, Qu exampled.

Qu suggests the zones continue as pacesetters and testing grounds for economic reforms and welcome investors from all over the world by creating a world-class business environment.

Qu suggests the SEZs improve their business environment by reforming taxes, managing negative lists, and allowing foreign investment into less-restricted industries. The zones should also offer greater conveniences in the flow of labor, capital and material, he said.


Newspaper headline: Shenzhen other SEZs play 'leading role' in China's development