Urban Modernization

This book posits that, beyond China's reform and opening-up policy and various factors of timing, geographical advantages, and popular will, the institutional innovations introduced in Shenzhen--including allowing inputs to receive reasonable returns, leveraging the market's role, cultivating modern industrial chain (clusters), promoting high-quality economic development, emphasizing contractual obligations and the rule of law, and establishing a limited yet effective governance framework--constitute the unique drivers of Shenzhen's modernization. The city's new designation as a Pilot Demonstration Zone has charted a course for its future development by defining new goals and consolidating its institutional advantages.