Resource information
Special economic zones can be an
effective instrument to promote industrialization if
implemented properly in the right context. In China,
starting in the 1980s, special economic zones were used as a
testing ground for the country's transition from a
planned to a market economy, and they are a prime example of
China's pragmatic and experimental approach to reforms.
One of the great special economic zone success stories in
China is the Suzhou Industrial Park, a modern industrial
township developed in the early 1990s through a
Sino-Singapore partnership. It is successful not just in the
economic sense, but also in terms of urban and social
development in an eco-friendly way. One key lesson is that
in a weak market environment, a facilitating and
reform-oriented host government, coupled with foreign
expertise and knowledge as well as a "whole value
chain" approach can go a long way in developing
urban-industry well-integrated special economic zones. This
paper is intended to examine the success factors and key
lessons of the Sino-Singapore Suzhou Industrial Park, which
can be useful for other developing countries.
