Shekou Industrial Zone Officially Established on Jan 31, 1979

The Shekou Industrial Zone is formally established in 1979. [Photo/sasac.gov.cn]

Shekou Industrial Zone officially established on Jan 31, 1979

On Jan 31, 1979, the central government approved the establishment of an industrial zone in Shekou, South China's Shenzhen city. The Shekou Industrial Zone was officially born that day.

As the "test tube" of reform and opening-up, the zone was China's first for export-oriented economic development, and was fully invested and developed by China Merchants Group.

The industrial zone pioneered a number of institutional and conceptual innovations. It took the lead in such fields as staff recruitment, reform of the cadre system and the payment distribution system as well as implementation of the social insurance system.

China Merchants Bank, China's first joint-stock commercial bank founded by enterprises, was established in Shekou.

These bold reform practices, known as the "Shekou model", were later promoted throughout the country. 

(Executive editor: Wang Ruoting)