Asian and African observers of the Yantian miracle
- By Zhou Lin
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A pedestrian street named Fengtian Alley in Yantian Village. [File photo] |
Village collective development with Chinese characteristics
According to Ortom David Terdoo, director of Oracle Business Limited of Nigeria, the reason why foreign direct investment can boost Yantian Village's development lies in its strong leadership, transparent investment policy, convenient infrastructural facilities, and technological development and innovation.
The Deng clan plays a dominant role in the village's economic and political life. Their successive and successful leadership has become the sustainable momentum of the village collective economy development and they dominate almost every aspect of undertakings. The top village leader has always been a Deng clan member. The clan heads most local enterprises and has taken charge of the villagers' committee and the stockholding cooperatives, the latter of which actually controls the village land and assets.
At the beginning of China's opening to the outside world, Yantian Village had far fewer assets. The Deng clan made full use of their relations with overseas family members and relatives and persuaded them to invest in their hometown. To rouse their sense of belonging to their hometown, Yantian Village built a big memorial hall to display the connections among the clan members and celebrate major festivals and so enhance their hometown affections.
Collective land ownership of Yantian Village means that the village collective can reclaim the land distributed to individual villagers and rent it to outside investors and inland enterprises, which is the basis of shareholding economic cooperatives. Villagers also benefit from the annual dividend, depending on their formal registration as permanent residents.
Jonny Mek Kolkia, a lawyer from Papua New Guinea, found it interesting that most small countries are either solely dependent on foreign investment or simply copy international organizations' advanced experience to seek development. However, China presents a different example. It discovers a development road in accordance with its current situations in various areas, which he considers the most cherished wisdom of Chinese experience.
On April 27, 2015, the Qianhai & Shekou Area of Shenzhen as part of China (Guangdong) Pilot Free Trade Zone held its inauguration ceremony. The 40-minute ride from Yantian Village to Shekou again spurs Yantian Village to incubate a new strategy for future economic development and industrial transformation.
Anishka Bethune comes from the Bahamas and once worked in the CIBC First Caribbean International Bank. She shows a great interest in the Chinese government's Five-year Plan, "China's economic development is a constant process divided into different stages. After achieving one goal, the Chinese people are always ready for the next challenge," Ms. Bethune said.
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