Picture of the Day: Shenzhen, China, 30 Years Later
SHENZHEN, CHINA, 30 YEARS LATER
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).
Shenzhen’s 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 1979, before which it was only a small village.
Both Chinese and foreign nationals have invested enormous amount of money 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 considered as 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.
Shenzhen has seen its population and activity develop rapidly since the establishment of the SEZ. Shenzhen’s population is roughly ten million. About six million of these people are migrant workers who return home on the weekends and live in factory dormitories during the week. Shenzhen is the largest migrant city in China. [Source: Wikipedia]