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The Story of Spring—Rise of Shenzheng as SEZ

In: China's Pathways to Prosperity

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  • Jun Fu

    (Peking University)

Abstract

Shenzheng was a small fishing village in a command or centrally planed economy in China. Now a global megacity. How did that happen in just a few decades? What’s the strategic thinking of Chinese leadership in terms of reforming what was a “command economy” into a “socialist market economy” through pilot projects of SEZs (special economic zones)? If the goal is the same, how can development strategies make a difference? Shenzheng is a window, through which one can see the growth of pro-market institutions. That is, how markets of various kinds—land, labor, and capital—were built over time from scratch. Did political leadership make a difference? Where do we draw the line between the state and markets? Perhaps more fundamentally, how property rights—a bundle of rights—got unbundled to make a difference in economic performance during an era of reforms and opening-up. And in the complex network of global economy, how to turn comparative advantage into competitive advantage, and from imitations to innovations? How to climb up the global value chains in globalization? What challenges lie ahead for Shenzhen and indeed for China in terms of sustained growth?

Suggested Citation

  • Jun Fu, 2025. "The Story of Spring—Rise of Shenzheng as SEZ," Springer Books, in: China's Pathways to Prosperity, chapter 0, pages 99-159, Springer.
    • Handle: RePEc:spr:sprchp:978-981-96-2196-5_4
    DOI: 10.1007/978-981-96-2196-5_4
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