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Shenzhen in Forceful Fast Growth
Shenzhen is no longer its past. Rising in the place of a former small coastal fishing village in the past two decades, it has become a new large modern Chinese city having the truest economic miracle created in today's China.
A special economic zone first open to the outside world, Shenzhen has taken a pioneer course in many aspects in China. First experimenting on a market economy, it has set out to have had various possible instrumental measures adopted to further its economic advances since the earliest time of its founding 20 years ago. These include amongst others investments from Hong Kong and other world investors to be first boldly used, industrial processing with supplied material practiced, public bidding extended, exchange and securities business developed, joint ventures launched, use right auction of public land initiated and three-level authorized management over state assets introduced.
Twenty years' construction has turned Shenzhen into a large transportation center boasting the largest land port, the second largest container seaport and the 4th largest aviation airport in China. A modern stereoscopic transportation network has been established. A fast steady economic growth has been noted with an accumulated amount of 20.45 billion USD of foreign investment being used and an export amount about 1/7 of the national in leading other large and medium-sized cities for seven successive years in China. Statistics showed a yearly GDP growth of 31.2% and a yearly 41.8% rise in industrial production from 1980 to 1999. Revenue registered a yearly growth of 45.4%. Per-capital income has been up to a yearly amount of 20,240 yuan. In 1999, Shenzhen's GDP totaled RMB143.65 billion yuan, averaging a per-capita amount of RMB36,000 yuan; revenue reached RMB18.479 billion yuan, ranking 6th, 1st and 3rd among other large and medium-sized cities in China.
Shenzhen's rise lies in a pioneer course it has taken and a consummate socialist market economy being developed.
Though great success has been achieved in city construction yet a new development goal has been set for Shenzhen - modernization by 2005, to be at a level of those of moderately developed countries by 2010 and those of developed countries by 2030, according to government announcements made in Zhenzhen.
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