Shenzhen

City Profile

Economics

Overview

Shenzhen is a city in China, located on the Southern tip of the mainland, and on the eastern bank of the of the Pearl River Delta. This city has a sub tropical marine climate that has an area of 199.64 square kilometres. There were around 10.63 million permanent citizens in Shenzhen by the end of 2013.

Shenzhen is the first special economic zone in the mainland. It was established in 1980 by the late Chinese leader Deng Xiaoping. Since then, in just 35 years' time, it rapidly grew and transformed from a tiny border town with a population with only around 30,000, to a modern metropolis. It started many records and firsts in terms of urbanisation, industralisation,

As Shenzhen began to open up to the rest of the world in 1980, it has become one of China's major links of communication to the outside world. It is also been said that although it was only founded in 1980, it has an everlasting history of 5000 years.

How has Shenzhen's economics grown and developed to its fully developed state today?

When it was first established in 1980, it was just a very tiny and poor town, with only 30,000 citizens inhabiting the city. It was so poor that there were citizens who escaped to Hong Kong just to get Pepsi or Coca-Cola. Deng Xiaoping, who founded this city, once said that this was the fault of China's policy, not the citizens. So he started a reform, and Shenzhen rapidly took off and developed to its state today. Before, its GDP was only 0.3 % of Hong Kong's GDP. Now its GDP is 73% of Hong Kong's GDP. Shenzhen's economy output has grown over 10,000 times, and the population has risen to 3 million since 1980.

When Shenzhen started off the trading process of urbanisation and industrialisation in the 1980s, the major product was T-shirts.

Shenzhen's minimum wages

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