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AbstractDevelopment zones constitute a special type of place‐based policy that has been implemented worldwide. As an essential economic development engine, Chinese National Economic and Technological Development Zones (NETDZs) are perceived as a successful example. However, few studies have looked into the channel effects at work in development zones concerning industrialization and urbanization, despite the crucial nature of such effects with regard to sustainable development of development zones. Following a brief description of NETDZs and their theoretical mechanisms with urban economic performance, industrialization, and urbanization, this study used a simultaneous equation model to generate empirical evidence of the impact of the establishment of NETDZs on urban economic performance and its channel effects through industrialization and urbanization. The results confirm that NETDZs exerts a positive and significant impact on urban economic performance, and NETDZs also show indirect influence in urban growth through urbanization. Although significant and positive intermediation of industrialization remains invalid, foreign direct investment and investment in fixed assets are still crucial in Chinese industrialization. Both industrialization and urbanization play an important role in Chinese urban economic development. Meanwhile, compared with eastern regions more influenced by urbanization, industrialization still acts as a major impetus in inland China.

The rapid growth over the past three decades has been instrumental in lifting over 600 million people in China out of poverty, and people want to know why and how it happened. International evidence has made it clear that a global economy based on current patterns of consumption and production is simply not sustainable. Policymakers have repeatedly been advised that economic growth, poverty reduction, equity, and environment and resource sustainability must be integrated into national development strategies. What about China? The principle limitation of existing China-focused economic studies lies in its imbalances from the perspective of analysis and the impact of growth on poverty and inequality. A limited number of studies are devoted to structural transformation and China's structural imbalances, social disparities and the role of science and technology on growth and productivity. This book addresses the alarming environmental consequences of China's growth patterns within an overall quality growth framework. It contributes to the economic growth and development literature and current policy discourse on China by expanding the policy analysis to include several important new areas using the most recent data available. This includes analyzing macroeconomic factors that underlie the need for China to advance its economic transformation; examining how social inequalities, including health, education and gender, have evolved and presenting the scale of environmental problems associated with China's growth miracle. This report represents the first attempt to integrate the issue of environmental sustainability and climate change into the quality growth context, providing readers with a comprehensive account of China's success and challenges in its three decades of rapid economic growth.