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| Three Major Institutional Contributions of the Establishment and Development of China’s Special Economic Zones |
| YUAN Yi-ming |
| China Special Economic Zone Research Center, Shenzhen University, Shenzhen, Guangdong, 518060 |
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Abstract The special economic zone is an important contribution of China's reform and opening up to the world in the past 40 years and is an important part of the Chinese program. Institutional innovation experiments and the promotion of overall economic take-off are two major signs that distinguish China's special economic zones from other types of special economic development zones in the world. Taking the lead in exploring the establishment and improvement of the socialist market economy target system, exploring the path from economic backwardness to take-off, and the transition path from growth to development are the two fundamental bases for the establishment and development of China's special economic zones. The development miracle of China's special economic zones is derived from institutional exploration and path practice. As one of the earliest institutional experimental areas in the process of transition from planning system to market economic system, the institutional improvement effect from the planning system to the socialist market economic system with Chinese characteristics is the fundamental driving force for its development. The establishment and development of China's special economic zones have made the world's special economic zone model an effective development system that exceeds the introduction of foreign capital, a dynamic optimization model that transcends the “model static”, and an endogenous institutional supply that transcends the external source of the system. In the future, transformation of development path and prioritization of institutional reform will remain the core of the development of special economic zones.
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Received: 02 June 2018
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2018, Vol. 35 
