That year, it was declared a special economic zone, which opened the city to foreign investment, technology, and managerial expertise through the establishment of foreign-owned, joint-venture, and other business enterprises. From 1980 the city grew at a phenomenal rate, a rate known in China as “Shenzhen speed.”
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.
The current metro area population of Shenzhen in 2023 is 13,073,000, a 1.89% increase from 2022. The metro area population of Shenzhen in 2022 was 12,831,000, a 1.9% increase from 2021.
In the People's Republic of China, Shenzhen's success significantly benefited from the presence of an active private sector. The ability of the government to attract the private sector to work together has set the tone for new cities to grow.
Shenzhen was a fishing port 40 years ago but now their amazing skyscrapers and well-known structures are 'talk of the town' all over the globe. Perhaps no city has emerged so well and developed their amenities at much faster rates.
Guangzhou — 11.6 million people
It is the richest city in Chinese mainland per capita, still just above Shenzhen.
Futian is also one of the most expensive and exclusive districts in Shenzhen. Its pricey and modern apartments are particularly popular with young and single working professionals. While there is a handful of international schools in the area, family-sized apartments in Futian can be exorbitant.
There are 113 billionaires in Shenzhen, compared with 110 in New York, while London came in fifth with 101. The growing concentration of wealth isn't news to people in Shenzhen, which added eight billionaires since last year.
Shenzhen's location has been a huge factor in why companies want to move into the city because it is just across the border of Hong Kong, which is a financial center in China. In addition to being so close to Beijing, Shenzhen is also very easy to get to and travel within the city is also very easy.
As one of the most modern and forward-thinking cities in China, Shenzhen is home to leading technology businesses and trading companies – all of which take advantage of the city's young and dynamic workforce.
It is a significant transport hub in the Belt and Road and Asia-Pacific. Shenzhen has an international deep-water port, an international airport, and the largest land boundary control point in Asia, as well as expressways and freight and passenger railways of national importance.
Shenzhen's new development model takes ecological conservation as a priority and highlights the coordinated development of the land and the sea, strengthened joint protection and management of local ecology, and increased capacity in disaster prevention.
To date there are no megaregions in Australia. The development of megaregions requires the economic and cultural dynamism of large cities but also relies on constellations of smaller cities and towns.
Backed by Deng's commitment to economic reform and opening up, and riding on the tide of globalisation which started in the 1990s, Shenzhen capitalised on the country's once vast supply of cheap labour and its proximity to Hong Kong to quickly balloon into a major manufacturing base, especially in electronics, in the ...
Shenzhen is the most sustainable city in China, according to a ranking by global management consultancy McKinsey & Company.
From the fishing village in the past, with a consistent policy that promotes technology like AI 2023 policy, Shenzhen of today is being referred to as “Silicon Valley of China” because it is the home to leading Chinese Tech Company like Huawei, the big producer of network hardware and communicating devices; Tencent, a ...
There are now 6,990 foreigners who live in Shenzhen City as permanent residents, said sources from exit and entry section of Shenzhen Public Security Bureau. Shenzhen, which faces Hong Kong across a local river, is also one of the country's five special economic zones.
Start-ups in Shenzhen have access to thousands of factories that are capable of turning product batches from prototypes in a matter of days. Compared to its Western neighbors Shenzhen has a greater iteration rate. This simply means innovating an idea in this city is a lot faster.
Shanghai – China's financial centre
Widely regarded as the financial capital of China, Shanghai is home to 127,200 millionaires, 332 centi-millionaires, and 40 billionaires.
Hangzhou in China comes out on top of the list assessing the fastest-growing millionaire hotspots. The report found that between 2012 and 2022, the amount of individuals living there that have over $1 million worth of investable assets has soared by 105%.
Shenzhen, a city in southeastern China, is one of the billionaire capitals of the world. The city is home to some of China's wealthiest people, many of whom founded massive tech companies. But there's also a dark side: Most residents cannot afford to buy a house in Shenzhen.
Baishizhou is the largest urban village in Shenzhen, with all the characteristics one could imagine of a slum — dark and narrow alleys, messy electric cables, damp air, and disorganized communities suffering from poverty.
Shenzhen is China's coolest, cleanest and most livable city. In 2019, Lonely Planet ranked Shenzhen as second in the world in the list of top 10 cities to visit. Shenzhen has a slightly higher cost of living than most cities in China but it is cheaper than 67% of cities in the world.
Ma Huateng, who also goes by Pony, is the richest man in Shenzhen.