On the 40th anniversary of China establishing its first special economic zone (SEZ)—which paved the way for capital market reforms to be introduced—Chinese leader Xi Jinping hinted at the severity of economic challenges ahead.
In 1980, the Chinese regime designated its first four SEZs in Shenzhen, Zhuhai, Shantou, and Xiamen cities. Compared with the other three, Shenzhen in southern China benefited from trade with and investment from Hong Kong, just across the border.
