The Rise of Shenzhen – Since 1979
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This as the world’s second-largest economy behind the United States, not expected to do well only a couple of decades ago, China’s development was understood as an economic miracle. Attributed to Gaige Kaifang, or Chinese Economic Reform by Mr. Deng in 1978, the Chinese economy started growing drastically: the GDP, 11 trillion USD in 2015, was 30 times what it was in 1978. Undoubtedly, “from rags to riches” is the best way to express China’s situation. From this reform, the city of Shenzhen proved to be one of the most successful and outstanding cities in China. Moreover, the outcome of the new SEZ was that Shenzhen soon became the fourth super city (the other three are Beijing, Shanghai and Guangzhou) in China, achieved the highest GDP per capita of the whole country and grew the economically fastest over other Chinese cities since 1979. This paper will examine the two eras of Shenzhen’s development, from a port county to a special economic zone, and how the city functions as an important global city for China today.
Development, manufacturing, export and information technology.