Shenzhen is a major city in the south of Southern China’s Guangdong Province, situated immediately north of Hong Kong. The area became China’s first – and one of the most successful – Special Economic Zones (SEZs). It currently also holds sub-provincial administrative status, with powers slightly less than a province.
Shenzhen’s novel and modern cityscape is the result of the vibrant economy made possible by rapid foreign investment since the institution of the policy of “reform and opening” establishment of the SEZ in the late 1970s. Before this, Shenzhen was a small village. Both Chinese and foreign nationals have invested enormous sums in the Shenzhen SEZ. More than US$30 billion in foreign investment has gone into both foreign-owned and joint ventures, at first mainly in manufacturing but more recently in the service industries as well. Shenzhen is now reputedly one of the fastest-growing cities in the world.
Being southern mainland China’s major financial centre, Shenzhen is home to the Shenzhen Stock Exchange as well as the headquarters of numerous high-tech companies. Shenzhen is also the third-busiest container port in China, after Shanghai and Hong Kong.
In the 1990s, Shenzhen was described as constructing “one highrise a day and one boulevard every three days”. The Shenzhen skyline has 13 buildings at over 200 metres tall, including the Shun Hing Square (the 8th tallest building in the world).
Shenzhen is home to some of China’s most successful quality brand high-tech companies, such as BYD, Dingoo, G’Five, Hasee, Huawei, JXD, Konka, Netac, Skyworth, Tencent and ZTE. BYD, Hasee and Huawei are headquartered in the Longgang District. TCL Corporation, best known as China’s number one TV brand, has a presence in the city. Taiwan’s largest company Hon Hai Group has a manufacturing plant based in Shenzhen. Many foreign high-tech companies have their operations in the Science and Technology park in Nanshan District or outside the core districts where labor and land are much cheaper. CSG Holding is the largest architectural glass manufacturer in China. Vanke is the largest residential real estate developer in China. In the financial sector, Shenzhen Development Bank, China Merchants Bank and Shenzhen City Commercial Bank are some of the largest banks in China, with headquarters in Shenzhen.
The World’s biggest manufacturer for electronics Foxconn is located in the Bao’an Quarter, were over 30,000 staff members produce in the so-called “iPod City” Apple’s iPod, parts for Sony, Nintendo, Hewlett-Packard and others.
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