|Shanghai South Railway Station|
Shenzhen is a major city in the south of Southern China's Guangdong Province, situated immediately north of Hong Kong. The area became China's first—and one of the most successful—Special Economic Zones (SEZs). It currently also holds sub-provincial administrative status, with powers slightly less than a province.
Shenzhen 's novel and modern cityscape is the result of the vibrant economy made possible by rapid foreign investment since the institution of the policy of "reform and opening" establishment of the SEZ in the late 1970s. Before this, Shenzhen was a small village. Both Chinese and foreign nationals have invested enormous sums in the Shenzhen SEZ. More than US$30 billion in foreign investment has gone into both foreign-owned and joint ventures, at first mainly in manufacturing but more recently in the service industries as well. Shenzhen is now reputedly one of the fastest-growing cities in the world.
Being southern mainland China's major financial centre, Shenzhen is home to the Shenzhen Stock Exchange as well as the headquarters of numerous high-tech companies. Shenzhen is also the third-busiest container port in China, after Shanghai and Hong Kong.
The young city with immigrants has become the regional economic center in south China with extremely high economic growth rate, per capita income and labour productivity. Meanwhile the government administrative efficiency, economic opening up and the living environment in the city are also among the best in China. If closely following the changes in Hong Kong, Guangzhou and Pearl River Delta Shenzhen 's development can still be expected.
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