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Shenzhen

Shenzhen

Prefecture-level city in Guangdong, China. "The silicon valley of China".

Shenzhen (Chinese: 深圳; pinyin: Shēnzhèn), also known as Sham Chun, is a major sub-provincial city and one of the special economic zones of China. The city is located on the east bank of the Pearl River estuary on the central coast of southern province of Guangdong, bordering Hong Kong to the south, Dongguan to the north, and Huizhou to the northeast. With a population of 17.56 million as of 2020, Shenzhen is the sixth most populous city proper in China. Shenzhen is a global center in technology, research, manufacturing, finance, and transportation, and the Port of Shenzhen is the world's fourth busiest container port.

Centre commercial area of Futian district, the tallest building is Pingan Finance Center.

Shenzhen roughly follows the administrative boundaries of Bao'an County, which was established since imperial times. The southern portion of Bao'an County was seized by the British after the Opium Wars and became Hong Kong, while the village of Shenzhen was situated on the border. Due to the completion of a train station that was the last stop on the Mainland Chinese section of the railway between Guangzhou and Kowloon, Shenzhen's economy grew and became a market town and later a city by 1979, absorbing Bao'an County for the next decade.

Futian CBD in the spring of 1998 from Lianhuashan Park.

In the early 1980s, economic reforms introduced by Deng Xiaoping resulted in the city becoming the first special economic zone of China due to its close proximity to Hong Kong, attracting foreign direct investment and migrants searching for opportunities. In thirty years, the city's economy and population boomed and has since emerged as a hub for technology, international trade, and finance; it is the home to the Shenzhen Stock Exchange, one of the largest stock exchanges in the world by market capitalization and the Guangdong Free-Trade Zone. As of 2020, Shenzhen is ranked as an Alpha- (global first-tier) city by the Globalization and World Cities Research Network and ranked as having the 8th most competitive and largest financial center in the world. Its nominal GDP has surpassed neighboring cities of Guangzhou and Hong Kong and is now among the top ten cities with the largest economies in the world. Shenzhen also has the fifth-highest number of billionaires of any city in the world, the second largest number of skyscrapers of any city in the world, the 28th largest scientific research output of any city in the world, and several notable educational institutions, such as Shenzhen University and Southern University of Science and Technology.

Futian CBD from Lianhuashan Park in 2018. After 20 years of growth. Insane.

Due to the city being a leading global technology hub, Shenzhen has been dubbed by media China's Silicon Valley. The city's entrepreneurial, innovative, and competitive-based culture has resulted in the city being home to numerous small-time manufacturers or software companies. Several of these firms became large technology corporations such as phone manufacturer Huawei, holding company Tencent, and drone-maker DJI. As an important international city, Shenzhen hosts numerous national and international events every year, such as the 2011 Summer Universiade and the China Hi-Tech Fair. Shenzhen's rapid success has resulted in the Chinese government turning Shenzhen into a model city for other cities in China and the world to follow.

Nighttime panoramic view of the Shenzhen Civic Center, with the Ping An Finance Centre towards the right. Located in the Central District.

Timeline

March 5, 1979
The State Council approved the establishment of Bao'an County in Guangdong Province as Shenzhen City, under the dual leadership of Guangdong Province and Huiyang region.

January 1979
Abolish Bao'an county and establish Shenzhen City

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News

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Date
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Stewart Randall
September 22, 2021
TechNode
Arm China, the Chinese branch of Arm Ltd., announced on Aug. 26 it is now an "independently operated and Chinese-controlled" company.
Cindy Wang and Enda Curran | Bloomberg
August 26, 2021
@bsindia
Manufacturers reeling from shortages of key components and higher raw material and energy costs are being forced into bidding wars to get space on vessels, pushing freight rates to records
Bloomberg
August 20, 2021
@bsindia
Distillers led a decline in the benchmark CSI 300 Index after it was reported that liquor producers will meet the regulator over market order
July 22, 2021
mint
Some entrepreneurs and lawyers say Chinese leader Xi Jinping's campaign has gone too far and is denting business confidence
July 22, 2021
The Indian Express
The southern Chinese metropolis of Shenzhen has launched a batch of self-driving taxis for the first time ever. Here is what we know.
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