Chinese economy News
Wenzhou backs away from the 'Wenzhou model'
Wenzhou, a city along China’s coast in southeastern Zhejiang province, has long been known for its booming private enterprise. Since China’s economic opening and reforms in the 1970s, Wenzhou has been treated as a test case for a capitalist model relying heavily on small- and medium-sized enterprises focused on low-end manufacturing for export. This approach was so successful that it became
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