China

SOURCE: West ASIA and Africa Journal
OUTPUT TYPE: Journal Article
PUBLICATION YEAR: 2017
TITLE AUTHOR(S): Y.April
KEYWORDS: CHINA, GOVERNANCE, INDUSTRIAL DEVELOPMENT
DEPARTMENT: African Institute of South Africa (AISA)
Print: HSRC Library: shelf number 9834

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Abstract

Currently,to fully realize industrialization is one of the objectives for South Africa's economic development, and the government has committed to achieving it through various measures,including developing the special economic zones. After years of development,the special economic zones in South Africa have yielded some fruits. However, limited by factors like lack of incentive methods,poor stakeholder coordination and collaboration mechanisms,lack of integration of fundamental strategies as well as low level of the local governments' participation,the potential of the special economic zones in South Africa is waiting to be further tapped. By contrast,the reform and opening up policies and measures have played important roles in the fast development of Chinese economy. Among them, the initiative of developing special economic zones has been widely lauded for its remarkable success in attracting foreign direct investment,promoting export oriented industrialization,and catalysing market-wide reforms. This is a good lesson for the economic development of South Africa. China may share its development experience with South Africa particularly in the following aspects: carrying out related supporting reform measures, reinforcing reform of local governance, developing human resource as well as conducting strong state intervention and institutional legislation