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Economic Hubs

In: Business Opportunities and Risks in China

Author

Listed:
  • Tracy Dathe

    (Macromedia University)

  • Volker Müller

    (European Chamber of Commerce)

  • Marc Helmold

    (IU International University of Applied Sciences)

Abstract

China’s economic liberalisation started in the late 1970s with the enhancement of major economic zones and the establishment of special economic zones. Until now, China is experimenting with new reforms in limited areas. Most provinces have established free-trade zones (FTZ) with improved market access for foreign companies, lower corporate tax rates and simplified customs clearance. A special case is the southern island of Hainan, covering almost one complete province. It is planned to create a level of economic freedom comparable with Hong Kong. In addition to the FTZs, China has set up the Greater Bay Area development zone, including Hong Kong, Macao and the most developed parts of Guangdong Province. The target is to gradually integrate these three separate economies. Products and services as well as personnel from Hong Kong and Macao get easier access to Guangdong Province. Foreign invested companies in China tend to form clusters. A case study from Taicang neighbouring Shanghai shows how beneficial location and policy support have succeeded to attract a large number of German companies.

Suggested Citation

  • Tracy Dathe & Volker Müller & Marc Helmold, 2023. "Economic Hubs," Management for Professionals, in: Business Opportunities and Risks in China, chapter 7, pages 81-90, Springer.
    • Handle: RePEc:spr:mgmchp:978-3-031-31933-4_7
    DOI: 10.1007/978-3-031-31933-4_7
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