Published : 2025-03-04
On March 4, 1988, the State Council of China held a "Coastal Areas Opening Up Working Meeting" in Beijing. At the meeting, it was concluded that over the past nine years of opening up, the special economic zones had gained experience and created conditions for the coastal areas to transform into an export-oriented economy and integrate into the international circulation.
The meeting discussed the strategic plan of developing an export-oriented economy in coastal areas to further improve investment environment, especially the "soft environment," aiming to enhance export earnings.
The strategy of development emphasised large-scale imports and exports, with focus on balancing imports to secure exports and nurturing exports through imports.
Thus, the meeting suggested that the State Council appropriately expand the scope of coastal economic development zones. Subsequently, on March 18, the State Council formally issued the notice, deciding to appropriately expand the coastal economic development zones.
The newly designated coastal economic development zones included a total of 140 cities and counties, including the three provincial capitals Hangzhou, Nanjing, and Shenyang.
This has significantly expanded the front-line areas of China's coastal opening-up, comprising special economic zones, coastal open cities, and economic development zones.
