China's open door policy

• China was an insular communist country with a centralised planned economy when Mao Zedong was in power.
• When Deng Xiaoping came into power, he introduced economic reforms to become a more open market economy.
• In 1980, four SEZs were introduced, such as Schenzhen.
• In the mid 1980s whole coastal cities linked with global capita, technology and talent.
• In the mid 1980s there was large economic growth. SEZs were upgraded and many attracted FDI such as the China-Signapore cooperation park.
• In the 21st century, China was the world's top trading nation. SEZs had 45% of China's FDI, 60% of exports and over 30 million jobs created, accelerating industrialisation.
• They caught up with the 2007/8 recession in 2015/16
• In 2017 China was the 3rd largest recipient of FDI with over $135 billion recieved and more than 43% investment in the manufacturing sector.
• However, foreign TNCs faced issues in China such as poor protection of intellectual property rights and legal uncertainties.