It has been 38 years since China began its reform and opening-up with the launch of Special Economic Zones (SEZs) and the promise of giving more room for foreign companies to grow. The economic policies system which made a fishing village such as Shenzhen into an innovation mega-hub is still in place and constantly evolving.

According to Rafael Jimenez Buendia, Business Development Advisor at the EU SME Center, this is because SEZs are actually working. He noted that there is a rise in EU companies seeking to establish themselves in SEZs, especially in the tourism sector.

Buendia spoke along with 11 other business experts at the EU Sino Round Table discussion co-organized by BenCham, the EU SME Center, ICI – Beijing B&R, and EU Sino Business Consulting, recently held in Beijing. However, according to VP of Galaxy Internet Capital Karen Guo who spoke with TechNode after the panel, foreign entrepreneurs should not take the market for granted.

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Masha Borak

Masha Borak is a technology reporter based in Beijing. Write to her at masha.borak [at] technode.com. Pitches with the word "disruptive" will be ignored. Read a good book - learn some more adjectives.