Thirty-five years ago, Shenzhen, China, was just a fishing village outside of Hong Kong. In 1979, China's Communist Party leader Deng Xiaoping designated the city the country's first Special Economic Zone, opening the region up to capitalism and foreign investment to fuel its development.
The incredible transformation from a fishing town to an electronics manufacturing kingdom and a central financial hub isn't lost on the country's inhabitants. In 2010, the 30th anniversary of the sweeping economic reforms, then Chinese president Hu Jintao called the city a "miracle.".
Today, Shenzhen is one of the fastest-growing cities in the world, with about 12 million residents. In 1979, just 30,000 people called Shenzhen home. The former angler's paradise along the Pearl River Delta is also considered southern China's financial capital, as it is home to the Shenzhen Stock Exchange, large tech firms, startups, and accelerators alike. And with its prowess as a global manufacturing hub, Shenzhen landed squarely atop Inc.'s list of top "Global Cities of the Future.".
At nearly 800 square miles, Shenzhen is more than double the geographic size of New York City. That real estate hosts a sprawling ecosystem that has grown up to support the city?s electronics industry. At the heart of this ecosystem beats the world-renowned Huaqiangbei electronics marketplace, a hacker?s wonder plant where you can buy just about any type of electronic component, tool, or equipment that you desire, on any size lot, at wholesale prices.
Setting up a Shenzhen company brings the rest of South East Asia so much closer to your doorstep. Trade between some of the world's most populous and prosperous countries such as India, Indonesia and Australia is made possible by Shenzhen's location and facilitated by its numerous ports, listed as the third busiest container port in the world. >>