Why did the special economic zones of china succeed

The Special Economic Zones of China have been for more than 30 years one of the main engines of economic development in that eastern country, whose average growth rates have been around 10% in recent years.

China's SEZs were created in 1978 by former President Den Xiaoping, who sought to attract productive foreign investment to the country to generate jobs and thus combat poverty.

The benefits for investors is tax exemption as long as their production is dedicated to export, sufficient skilled and productive workforce and land, which is rented to the government, who retains ownership. In addition, the SEZs have independent economic planning to the national budget.

In 1978, the former president intended to use the SEZs as a laboratory to test the benefits of capitalism, after adding 50 years of a centrally planned economy, which had not been able to reduce poverty. The formula that started in six cities worked and today has been replicated to more than 1,500 cities in the coast, the interior and its borders.

They largely explain China's export leadership and the dynamic growth it has had. Thanks to the SEZs, the eastern country has also become the largest recipient of Foreign Direct Investment with an average of 71 billion dollars annually.

Today, 50% of the country's Gross Domestic Product is generated by the SEZs and they continue to expand. Its productive boom has influenced the country's export dynamics and has had a strong impact on logistics, which has demanded the construction of airports, roads, ports and railways to mobilize inputs and finished products to the last corner of the world.

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