SHENZHEN -- China on Wednesday held a grand gathering to celebrate the 40th anniversary of the establishment of the Shenzhen Special Economic Zone (SEZ) in southern Guangdong province.

President Xi Jinping, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, attended the gathering and delivered an important speech.

The gathering started at 10:30 am with participants singing together the national anthem.

Hailing Shenzhen's development over the past 40 years as "a miracle in the world development history," Xi said the establishment of SEZs is a great innovative move made by the CPC and the country in advancing reform and opening up as well as socialist modernization.

On Aug 26, 1980, the Standing Committee of the fifth National People's Congress, the top legislature, approved the establishment of special economic zones in Shenzhen, Zhuhai and Shantou in Guangdong province and Xiamen in Fujian province.