1.3.
Current Hong Kong China Economic Developments: Monthly Notes:
July 1981
Policy Initiatives on the Development of Special Economic
Zones (SEZS)
On 26 July Wen Wei Po gave an account of a Provincial People's Congress meeting which discussed the conference in Peking on SEZs which was held at the end of June (see Monthly Notes : June 1981). Vice Governor and Party First Secretary of Shenzhen, Liang Xiang and Vice Governor Zeng Dingshi, who had attended the meeting in Peking, reported to the Congress a number of policy decisions which had been taken. They said that on the basis of these decisions it was hoped to promulgate a number of specific regulations regarding Shenzhen SEZ as early as August or September this year.
Wen Wei Po listed the policy measures as follows:
(a)
(b)
.
The planning and construction of the Special Zones must be suited to local conditions with particular emphasis on the actual experience gained.
A new system of "labour companies" will be set up within the Zones. (According to other newspaper reports, terms of employment of Chinese labour will be altered to give the factory management the right to fire lazy or incompetent workers).
(c) Foreign trade will be conducted on the SEZs own
initiative under the guidance of a central unified
policy.
(a) Noting that the Renminbi remains the principal
currency in the SEZs, with the circulation of foreign currencies theoretically confined to limited spheres, the report said that a plan to issue a special zone currency (first of all in Shenzhen) was under consideration. Also under
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