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The Special Economic Zones of China (SEZ) are designated zoned areas in China with unique economic policies and regulations often for business with foreign nations and enterprise. These zones typically foster more free-market -oriented business regulations compared to the rest of the country.
In Nepal SEZs laws were formulated in 2016 in the form of Special Economic Zone Act (2016). The laws were subsequently revised in 2019. [ 39 ] The industries inside the Special Economic Zones are given various facilities and in return they have to commit to export a minimum of 60% of their production to the foreign market.
The definition of an SEZ is determined individually by each country. According to the World Bank in 2008, the modern-day special economic zone typically includes a "geographically limited area, usually physically secured (fenced-in); single management or administration; eligibility for benefits based upon physical location within the zone; separate customs area (duty-free benefits) and ...
The Shenzhen Special Economic Zone (Chinese: 深圳经济特区) is a special economic zone (SEZ) of China. One of four special economic zones (SEZ) established in May 1980, it was the first SEZ created by Deng Xiaoping , [ 1 ] and, like the other three zones, was modeled after Ireland 's Shannon Free Zone .
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The 2008-20 plan, released by China's National Development and Reform Commission, was supposed to be designed to boost the pan-Pearl River Delta as a "center of advanced manufacturing and modern service industries", and as a "center for international shipping, logistics, trade, conferences and exhibitions and tourism".
Special administrative regions of the People's Republic of China [note 1] Name Chinese / Yale Pinyin Postal map Abbreviation and GB Population Area km 2 ISO ISO:CN Admin. Division Hong Kong: 香港: Hēunggóng Xiānggǎng Hongkong 港 (Gǎng), HK, HKSAR 7,184,000 1,104.4 HK: CN-HK: List (18 districts) Macau: 澳門 / 澳门: Oumùhn Àomén Macao
It was known before as the Nanning-Singapore Economic Corridor. The economic corridor connects several cities in Southern China with the major cities of Southeast Asia including Hanoi in Vietnam , Vientiane in Laos , Phnom Penh in Cambodia , Bangkok in Thailand , Kuala Lumpur in Malaysia , and Singapore with modern road, rail, and pipelines. [ 1 ]