Window to the World’ – Shenzhen SEZ.ppt

‘Window to the World’ – Shenzhen SEZ Economic development Brief introduction---current situation Developing history Troubled times Achievements industries---hi-tech Constraints: four Future–next 5 Years Only twenty years ago, Shenzhen was a small fishing village located in China’s southern province of Guangdong. Today, after two decades of rapid economic expansion, the city enjoys the highest income per-capita among the 35 major Chinese cities at US$ 225 per month. At close to US$ 3,000 per year the income per capita is approximately four times the national average. This coastal city, which shares a border with Hong Kong, has become one of China’s most prosperous cities averaging an economic growth rate of 34 percent between 1980 and 1998. Formation of the SEZ The city of Shenzhen was founded in 1979 and a year later was established as China’s first special economic zone (SEZ) by Chinese leader Deng Xiaoping. The special economic zones were implemented by the Communist government as a virtual laboratory for experimentation with a free market economy. Already, 48 of the world’s 500 top enterprises have taken root in Shenzhen. Coupled with the rapid development of its export-oriented economy, the city achieved an export volume worth US$26.4 billion in 1998, amounting to one-seventh of China’s total, topping the list of China’s big and medium -sized cities?for six consecutive years. Output value of the city’s high and new technology products was worth 65.52 billion Yuan (US$7.89?? billion) in 1998, making up 35.4?per cent of the city’s total industrial?output. In 2009, GDP per capita of Shenzhen reaches 136,00 dollars, ranking the first in mainland China. In 2009, the gross domestic product (GDP) of Shenzhen amounts to 820,123 million. In the mainland cities, it is in the fourth, only after Shanghai, Beijing, Guangzhou. Troubled times By 1992, seventeen hundred special economic zones had been established. Over time Shenzhen was not as unique as it had o