China's Xi Jinping to deliver speech in Shenzhen on Oct 14 to mark its 40th anniversary

China’s President Xi Jinping will be delivering a speech in Shenzhen on October 14 to mark the anniversary of the establishment of the country’s first special economic zone in the southern city 40 years ago, Xinhua state news agency reported. Last week, the central government had announced measures to give Shenzhen greater control over land use in a bid to encourage foreign investment in the technology sector, while also reducing red tape in energy and telecoms. 

The Chinese Communist Party touts Shenzhen as a gleaming symbol of China’s emergence as a global economic power because it is one of the testing grounds for reforms that spurred in the country’s high-paced growth over the last four decades. While the details of Xi’s speech still remains unknown, he is, however, likely to talk about the integration of the Greater Bay Area, which is a region that includes Hong Kong, Macau and nine cities in China’s Guangdong province, including Shenzhen. 

On the other hand, Hong Kong leader, Carrie Lam, has also said that she would postpone her annual policy address scheduled for Wednesday and travel to Shenzhen instead. Lam won’t be meeting Xi during her visit to Shenzhen, however, she has plans to go to Beijing later this month. She is also expected to hold her policy address by the end of November. 

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Shenzhen SEZ 

The Shenzhen SEZ was set up in August 1980. Over a period of 40 years, the city has been transformed from a small fishing village into a metropolis. Shenzhen was one of the first four SEZs to implement China’s opening-up policy. The other zones are also coastal cities located in southern China - Zhuhai near Macau, Shantou and Xiamen. 

Previously, in a bid to celebrate the 40th anniversary, several high-rise building’s in the city also staged a light show. As per reports, the light show was performed using 826 drones combined with the city lights in Shenzhen. '40th Anniversary of the Establishment of Shenzhen Special Economic Zone’ were seen inscribed on high-rise buildings.

(Image: AP) 

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