Creation of Free Economic Zones in the People's Republic of China (Historical and Political Analysis)

Since the middle of the twentieth century, in connection with global processes in the world economy, free economic zones (FEZ) began to arise. Over the past decades, they have spread widely in many countries of the world. The main goal of the FEZ was to attract foreign investment, new technologies, progressive management experience, increase and diversify exports and, ultimately, accelerate the economic development of the country. The People's Republic of China is one of the leaders in the global economy. Over forty years of implementing the policy of "reform and openness", the country's economy has achieved impressive results. According to many analysts, this result was achieved thanks to the creation and operation of the FEZ. Their activities in China have contributed to attracting huge foreign investments, Chinese companies have gained access to advanced scientific and technical production facilities, as well as modern management methods. The reasons and prerequisites for the creation of the FEZ are outlined. The article is devoted to the analysis of the history of the creation and functioning of FEZ in the People's Republic of China, which are the locomotives in the development of the country's economy. Special attention is paid to the historical and political science background of the formation and activity of the FEZ. The experience of FEZ activities clearly shows that their success is inextricably linked with the transition to an open economy. The work reveals the stages of the creation of FEZ in China. Currently, FEZs have entered a new period of their improvement. Experimental free trade zones are being created, which I advocate not only as a way to solve economic problems, but also as an important factor in economic growth. This direction is becoming a key strategic step of the CPC Central Committee in promoting the policy of reform and openness in the new era.