Overview of Shenzhen
Shenzhen is a prefecture level city under the jurisdiction of Guangdong Province, China. It is located in the south of Guangdong Province, on the east bank of the the Pearl River Estuary, and adjacent to Hong Kong. Shenzhen, also known as "Pengcheng", has a total area of 1997.47 square kilometers and a permanent population of approximately 17.7701 million people. Shenzhen is one of the earliest four special economic zones in China to implement opening-up to the outside world, as well as a window for China's reform and opening-up and an emerging immigrant city.
The history of Shenzhen can be traced back to the Neolithic Age over 6700 years ago, with its earliest predecessor being Bao'an County in Guangzhou Prefecture. The name Shenzhen first appeared in historical records in the eighth year of the Yongle reign of the Ming Dynasty (1410), named after the Shenzhen River. In 1980, Shenzhen became the forefront of China's reform and opening up, and established the Shenzhen Special Economic Zone. In 2019, Shenzhen's regional gross domestic product reached 2692.709 billion yuan, and its economic structure is mainly composed of high-tech industries, finance, modern logistics, and cultural industries.
As one of the core cities in the Guangdong Hong Kong Macao Greater Bay Area, Shenzhen has experienced rapid economic development. In 2022, the city's gross domestic product reached 3238.768 billion yuan, a year-on-year increase of 3.3%. The economic structure of Shenzhen continues to optimize, with the tertiary industry accounting for the highest proportion. The high-tech industry, financial industry, modern logistics industry, and cultural industry have become the four pillar industries. In addition, Shenzhen has made significant achievements in technological innovation and higher education, with multiple universities including Southern University of Science and Technology and Harbin Institute of Technology (Shenzhen).
The urban construction and development of Shenzhen have also received much attention. With the development of the economy, Shenzhen's infrastructure construction continues to improve, with significant improvements in transportation, education, healthcare, and other aspects. Shenzhen is actively promoting urban renewal and internationalization, attracting a large number of talents and enterprises. In the future, Shenzhen will continue to play its role as a global center for technological innovation, promoting sustained economic and social development.
Shenzhen is one of the earliest four special economic zones in China to open up to the outside world. It is located on the southeast coast of Guangdong Province, adjacent to Hong Kong, with convenient transportation, mild climate, and beautiful scenery. The Shenzhen Special Economic Zone was established in August 1980, with a total area of 327.5 square kilometers, and was extended to the entire city in 2010.
Shenzhen's economic strength is very strong, with a regional GDP of about 3.46 trillion yuan in 2023, surpassing surrounding cities such as Foshan and Dongguan. As an important part of the Guangdong Hong Kong Macao Greater Bay Area, Shenzhen plays a pivotal role in the regional economy.
The overall economic performance of Shenzhen is stable and continues to improve. From January to July 2024, the added value of industries above designated size in the city will increase 11.5% year on year, fixed assets investment will increase 7.3% year on year, total retail sales of consumer goods will increase 1.2%, and total import and export will increase 29.6%. Especially with active investment in high-tech industries, there has been significant growth in the manufacturing of computers, communications, and other electronic devices.
The economic development of Shenzhen benefits from its advantageous location and climate conditions. As a transportation hub in southern China, Shenzhen has close connections with Hong Kong and Macau, with a warm climate and abundant natural resources, attracting a large number of talents and investments.
Shenzhen's economy is full of vitality and is one of the centers of scientific and technological innovation in China, with broad prospects for future development. As one of the most promising cities for future development in China, Shenzhen is highly likely to become one of the top cities in the world.
