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China Seeks to Repeat Deng’s Shenzhen Success in Shanghai

Three decades after Deng Xiaoping’s experiments with capitalism in the southern city of Shenzhen began lifting millions from poverty, his successors are applying that same strategy to the tougher task of making China rich.

Playing the role of Shenzhen is 11 square miles of low-rise office buildings, white warehouses and concrete parking lots on the outskirts of Shanghai. The State Council said today that it will reduce state controls on interest rates, the currency and investment in the zone. By giving markets and the private sector a bigger economic role, China may become a high-income nation by 2030, according to the World Bank.