杭州

西安

广州

上海

北京

深圳

Shenzhen

City introduction

Shenzhen is a city and special economic zone on the east bank of the Pearl River estuary on the central coast of the southern Chinese province of Guangdong, bordering Hong Kong to the south, Dongguan to the north, Huizhou to the northeast, and Macau to the southwest. With a population of 17.5 million in 2020, Shenzhen is the third most populous city by urban population in China after Shanghai and Beijing. The Port of Shenzhen is the world’s fourth busiest container port. 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. Shenzhen is ranked as an Alpha- (global first-tier) city by the Globalization and World Cities Research Network. Its nominal GDP has surpassed those of its neighboring cities of Guangzhou and Hong Kong and is now among those of the cities with the ten largest economies in the world. Shenzhen also has the eighth most competitive and largest financial center in the world, the seventh-most Fortune Global 500 headquarters of any city in the world, fifth-highest number of billionaires of any city in the world, the second largest number of skyscrapers of any city in the world, the 19th largest scientific research output of any city in the world, and several notable educational institutions, such as Shenzhen University, Southern University of Science and Technology, and Shenzhen Technology University. A large portion of Shenzhen’s population are migrants from all over China, and the city’s population structure skews younger than most places in China.
Shenzhen was the first Special Economic Zone (SEZ) established by Deng Xiaoping in April 1979, initially as a Special Export Zone to foster investment and technology transfer, and was later renamed to SEZ in May 1980. As of 2022, Shenzhen’s nominal GDP reached 3.24 trillion RMB (HK$2.87 trillion), surpassing Hong Kong’s GDP of HK$2.11 trillion and Guangzhou’s GDP of 2.88 trillion RMB (HK$2.68 trillion), making it the third-largest economy among Chinese cities, after Shanghai and Beijing. Between 2016 and 2017, Shenzhen experienced an impressive GDP growth rate of 8.8%, outpacing Hong Kong and Singapore. The Shenzhen Stock Exchange (SZSE) is the 8th largest in the world, with a market capitalization of US$2.5 trillion as of November 30, 2018. In the 2021 Global Financial Centres Index, Shenzhen ranked as the 8th most competitive financial center globally and 6th in Asia and Oceania. It is recognized as an Alpha- (global first-tier) city by the Globalization and World Cities Research Network and has the fifth-highest number of billionaires among global cities. Forecasts suggest that by 2035, Shenzhen will be among the top 10 largest cities in terms of nominal GDP and will have a per capita GDP exceeding US$57,000 by 2030. Additionally, Shenzhen is a key part of the 21st Century Maritime Silk Road and, as of August 2023, hosts the seventh-most Fortune Global 500 headquarters worldwide and the third-most in China, after Beijing and Shanghai.

City Economy

  • High Tech Shenzhen is a major tech hub in China and globally, ranking as the fourth-largest fintech center worldwide as of 2020. Its high-tech industry, valued at 585 billion RMB (US$82.9 billion) in 2015, represents over 33% of the city’s GDP. Shenzhen is home to major tech firms like Huawei, Tencent, DJI, and ZTE, along with companies such as Hasee, Hytera, OnePlus, and BYD. The city hosts the annual China International High-tech Achievements Fair, promoting innovation and investment, earning it the nickname “China’s Silicon Valley” and the “Silicon Valley of Hardware.”
  • Financial services Shenzhen hosts several major financial institutions, including China Merchants Bank, Ping An Insurance, and Ping An Bank. Since becoming a Special Economic Zone, it has attracted foreign banks like Citibank, HSBC, Standard Chartered, and the Bank of East Asia. In 2015, the financial sector contributed 14.5% to Shenzhen's GDP, with assets reaching 12.7 trillion RMB by the end of 2016, making it China's third-largest financial industry. As of 2019, Shenzhen ranks among the world’s top ten financial centers, noted for strengths in business environment, human capital, infrastructure, financial development, and reputation.
  • Container port Shenzhen is home to the headquarters of major companies like SF Express and China International Marine Containers (CIMC). The Port of Shenzhen, consisting of Yantian, Chiwan, Shekou, and other terminals, has become one of the world’s busiest, handling record container volumes. In 2005, it ranked as the fourth-busiest container port globally, driven by increasing trade and cargo shipments. As a port megacity with high port traffic and a large urban population, Shenzhen’s logistics industry contributed around 10.1% (178.27 billion RMB) to the city’s GDP in 2015. Recently, Shenzhen Port launched its first foreign trade blockchain cargo release platform.
  • Cultural industry Shenzhen prioritized cultural development under the 13th Five-Year Plan, founding the Shenzhen Fashion Creative Industry Association and planning the 4.6 km² Dalang Fashion Valley. In 2008, UNESCO included Shenzhen in its Creative Cities Network, designating it as a "United Nations Design Capital." By 2015, the cultural sector contributed 5.8% (102.116 billion RMB) to the city’s economy. In gaming, Shenzhen-based developer Game Science saw major success with its release of Black Myth: Wukong on August 20, 2024. The game, inspired by Journey to the West, gained widespread popularity.
  • Real estate In addition to its four pillar industries, Shenzhen has a significant real estate sector, which contributed 9.2% (162.777 billion RMB) to the city's economy in 2015, reflecting a 16.8% increase from the previous year. Major real estate developers such as Evergrande Group, Vanke, and China Resources Land are headquartered in the city, highlighting the industry's importance to Shenzhen's overall economic landscape.
  • Tourism Tourism is a growing industry in Shenzhen, recognized by Lonely Planet as the second top city to visit in 2019. Guided by its "12th Five-Year Plan for Tourism Development," Shenzhen aims to establish itself as an international tourist hub, focusing on its scientific, fashion, and industrial appeal. As one of China’s tier-one cities, Shenzhen benefits from coastal resources, a favorable climate, a strong economy, and technological innovation. In 2015, the tourism industry generated 124.48 billion RMB (US$17.6 billion), up 98.1% from 2010, with 28% of revenue (35 billion RMB) from international tourists. That year, Shenzhen saw 11.63 million visitors, a 51% increase from 2010.
  • Retail Retail is a key part of Shenzhen’s tertiary sector, with retail contributing 43% (616.89 billion RMB) of the sector's 1.42 trillion RMB value in 2018. Shenzhen’s notable retail areas include Huaqiang North, known for one of the world’s largest electronics markets, and Luohu Commercial City, offering a variety of goods from electronics to custom suits. Popular shopping centers include COCO Park, Uniworld, and Coastal City. "Smart retail," utilizing AI and big data, is expanding, with government support and funding aimed at making Shenzhen a hub for innovative retail practices.
  • City industries

    City climate

    humid subtropical climate

    A humid subtropical climate is a temperate climate type marked by hot, humid summers and mild to cool winters. Typically found on the southeast side of continents between 25° and 40° latitude, these climates are situated poleward of tropical climates and equatorward of humid continental (in North America and Asia) or oceanic climates elsewhere. In some systems, it’s also referred to as a warm temperate climate.