Leap and Reconstruction: Breakthroughs in Xiamen SEZ's Fixed Asset Investment Structure (1981–1995)
Background: From ‘Frontline Outpost’ to ‘Investment Hotspot’ In the three decades preceding the establishment of the Xiamen Special Economic Zone (SEZ) (1950–1980), infrastructure development in Xiamen was severely restricted due to its position as a military frontline. Fixed asset investment during this period accounted for a mere 1.77% of the cumulative total over 45 years post-liberation, with funding almost entirely dependent on state fiscal appropriations. The establishment of the SEZ in 1980 marked Xiamen’s strategic transition from a closed military outpost to a modern port city. In October 1981, the groundbreaking of the Huli Processing Zone signaled the commencement of large-scale infrastructure development, initiating a historic reconstruction of Xiamen’s investment structure. ...