In this paper I have made an intensive study on the Guangdong special economic zones, which was designed to develop economic cooperation and technical exchange with foreign countries and to promote the socialist modernization programme of China. The s...
In this paper I have made an intensive study on the Guangdong special economic zones, which was designed to develop economic cooperation and technical exchange with foreign countries and to promote the socialist modernization programme of China. The special zones, which were to be established within three cities of Shenzhen, Zhuhai and Shantou in Guangdong Province, were to encourage investors, including foreigners, Chinese living abroad, and those residing in Hong Kong and Macao, to make their business in these areas. The purpose of these measures is to help them open factories and set up enterprises and other establishments with their own investment, or in joint ventures, and protection is provided for their assets, the profits due from them, and other rights and interests in accordance with the law.
In general, economic reform and opening of China have been appraised as successful. In this context, special consideration was placed on Chinese economic reform and opening, as a successful case in comparison with the Gaeseong case of North Korea.
North Korea has shown willingness for economic opening by designating three additional special zones including 'Sinuiju Special Administrative Region', 'Mt. Geumgang Tourist Zone' and 'Gaesong Industrial Complex.'
It can be estimated that the designation of special economic zones was a tangible example that North Korea has made benchmarking of the Chinese model of economic reform and opening. On the other hand, reform and opening of North Korea have been in close connection with inter-Korean relations, as well as the interests of China, Russia, Japan, etc. Therefore, it is very important that Chinese economic reform has not a little influence on that of North Korea.
This study is concentrated more on the analysis of the Regulations of Special Economic Zones in Guangdong rather than any other special economic zones in China. Moreover, the writer fried to make efforts to gain some impressive lessons from China in order to give model for the law of special economic zones of North Korea in detail.