Shenzhen is a Socialist Market Economy

The establishment of special economic zones is a great creative practice with “Chinese characteristics” in the contemporary era. The special economic zone is a choice of a market economy, running through the whole process of China’s reform and opening-up. Deng Xiaoping made a famous judgment that “a market economy is not equal to capitalism” in his southern talks, and clearly stated that “Shenzhen is a socialist market economy” when reviewing the fourth draft of the “report of the 14th CPC National Congress”. In 2010, professor Su Dongbin summed up what the special economic zones relied on for the realization of the goal of “standing firm at the age of 30”. First, they chose, introduced, and adhered to the market economy orientation of reform, and the rise and development of the Shenzhen special economic zone mainly relied on the market economy system; secondly, the reform has mobilized the enthusiasm of market economy entities, respected, and expanded the emancipation of people, and also made the element of innovation become the mainstay of the special economic zones. Today, Shenzhen has moved from “standing firm at the age of 30” to “having no doubts at the age of 40”, and in the meantime, the overall environment of China’s development also has undergone major changes, that is, “a new pattern of dual-circulation development, with domestic circulation as the mainstay and mutual promotion at home and abroad, is taking shape”. Under the new situation and while adhering to international development, how to further explore and deepen the road of rule of law and innovation of a socialist market economy will determine the height of Shenzhen’s future development.