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
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.