28 Nov 2016
Shenzhen (Guangdong) City Information
|Major Economic Indicators (2015)|
|Land Area (km2)||2,050|
|GDP (RMB billion)||1,750.3|
|GDP Per Capita (RMB)||157,985|
|Retail Sales of Consumer Goods (RMB billion)||501.8|
|Utilised FDI (USD billion)||6.5|
|Exports (USD billion)||264.0|
|Imports (USD billion)||178.4|
Source: Guangdong Statistical Yearbook 2016
Shenzhen is located at the border with Hong Kong in the southern part of the Guangdong Province. It was the first Economic Special Zone of China in 1980, enjoying special economic policies and flexible government measures.
Transforming from a world factory of light consumer goods to become one of the major innovation and technology hubs of China, Shenzhen was the most competitive city in China in 2016 according to the Chinese Academy of Social Sciences. Shenzhen’s per capita GDP was the highest among all cities in the Guangdong province.
Shenzhen is a designated as a national hub in MOFCOM’s development plan (2015-2020) of distributive trade and logistics. It has well-established air, land and water transportation network. Shenzhen Bao'an International Airport offers regular domestic and international flights to connect Shenzhen with over 103 major cities in the world. Shenzhen Station is the destination of railway routes from Beijing, Shanghai and major cities in China. Shenzhen Port, the second-largest port in China in terms of container throughput, provides excellent cargo services to the world.
Qianhai and Shekou which are just across the sea from Hong Kong, are part of the Guangdong Free Trade Zone, act as a pilot demonstration base for China’s financial sector liberalisation.
Shenzhen is a service-oriented economy with services accounting for 59% of its GDP in 2015. With a number of modern container ports dotting along the coast, Shenzhen logistics sector is one of the most developed in China. Besides, Shenzhen has a thriving retail and wholesale sector, and financial sector that contributed 20% and 24% to Shenzhen’s total service sector value-added respectively. Shenzhen serves as the headquarter to a number of domestic financial institutions, including China Merchants Bank and Ping An Insurance.
The industry sector still acts as a significant support to Shenzhen’s economy, accounting for 39% of the GDP in 2015. Telecommunications, computers manufacturing and electronics are its major industries. ZTE and Huawei are examples of telecommunications giants in Shenzhen, which are famous domestic telecoms equipment suppliers in China.
Major Industrial Parks / Development Zones
1. Shenzhen Export Processing Zone
Target industries: Electronics, information technology, equipment manufacturing
Major investors: SMIC, Hitachi Global Storage Technologies, Electrical & Electronics Corp
2. Shenzhen Free Trade Zone (including Shenzhen Yantian Port Free Trade Zone, Shenzhen Futian Free Trade Zone, Shenzhen Shatoujiao Free Trade Zone and Shenzhen Yantian Port Bonded Logistic Park) (state-level)
Target industries: Warehousing, logistics, trade, export processing
Major investors: Lenovo, Walmart, IBM, Mitsui, NEC, Sony, Samsung, Hitachi, 3M, JDS Uniphase, Philips, AEON, BCS, Thomson, Sanyo, Intel, Honey, Toshiba, Petronas, Ricoh, Sumitomo, Kerry
3. Shenzhen High-tech Industrial Development Zone (state-level)
Target industries: Electronics, information technology, biology, optical-electrical-mechanical integration, pharmaceuticals
Major investors: Huawei, ZTE, Kingdee, Lenovo, TCL, IBM, Philips, Skyworth, Compaq, Epson, Lucent, Olympus, Harris Corp