OVERVIEW
 

Shenzhen, a city on the South China Sea coast, is a hub on the Maritime Silk Road. It neighbors Hong Kong. Occupying an area of 1,953 square kilometers, the city has a subtropical marine climate with plenty of rain and sunshine and is rich in tropical fruit.

As a city of migrants, Shenzhen is open-minded, tolerant and innovative. It is an ideal place for domestic and international talent to start businesses. It has been voted as China's Most Dynamic City and City Most Favored by Migrant Workers. Shenzhen was named by Forbes' Chinese version as the most innovative city on the Chinese mainland in October 2010. According to a listing by the Chinese Academy of Social Sciences, Shenzhen is the fourth most competitive city in China.

With the "Shenzhen Speed", the metropolis has created world urban development miracles over the past 35 years. Its spirit for innovation and entrepreneurship, together with the deep reform, has given many starters to grow in the society which became the driving force behind its development.

In less than 30 years, Shenzhen, a tiny border town of 30,000 people in 1979, has grown into a modern metropolis. It established many firsts in the history of world industrialization, urbanization and modernization. In 2008, Shenzhen’s GDP reached RMB 780.65 billion, ranking the 4th, and its GDP per capita peaked USD13,153, ranking the 1st among major cities in China. Moreover, the city’s industrial added value amounted to RMB 361.83 billion. The economic structure and the ratios of agriculture, industry and service are 0.1:50.9:49.0.In 2009, Shenzhen mapped out plans to promote the development of three new industries - namely biotech, new energy and Internet - which are quickly becoming new engines for the city's economic growth. In 2010, the growth speed of biotech, new energy and Internet industries reached 30%, 24.2% and 29.3% respectively.By the end of 2010, there were 10.36 million permanent residents, of whom 2.51 million had hukou (household registration).

The history has brought creative changes in various ways. Innovation and the further development of the "Belt and Road" initiative are of historic importance to Shenzhen, which thus has the opportunity of spearheading globalization and leapfrog development.

A gateway to the world for China, Shenzhen is one of the most developed cities in China and a city that has grown the fastest. It is also the high-tech and manufacturing hub in southern China, the world's fourth-busiest container port, China's fourth-busiest airport and one of the most popular tourist destinations in China. The high-tech, logistics, financial services and cultural industries are mainstays of the city.

Shenzhen is changing its mode of growth. While great attention was put in onto the speed of economic growth in the past, now the emphasis is on the quality of growth.

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