Shenzhen SEZ, China

DEFINITION of 'Shenzhen SEZ, China'

Shenzhen is a leading business, innovation and financial center in China. Shenzhen’s fast growing economy is characterized by three industries: shipping and logistics, high technology and financial services. Shenzhen is a world leader in shipping and supply chain with the world's third busiest container port. Its massive industrial parks, like Huawei Tech City, and a high levels of R&D investment make it a global innovation center. To service the growing needs of the shipping and high-tech industries, and given its role as the principal access point for foreign investment into mainland China from Hong Kong, Shenzhen has grown into one of the leading financial centers in China.

BREAKING DOWN 'Shenzhen SEZ, China'

A small village from ancient times, the modern city of Shenzhen was established in 1979 and designated as China’s first special economic zone (SEZ) in 1980. Since then, it has grown into one of the world’s most modern cities with more than 10 Million residents and more than US$230 Billion in GDP.  Mandarin is the official language but Cantonese and English are widely spoken. 

Strategically located in Guangdong province, in the Pearl River region, and adjacent to Macau and Hong Kong, Shenzhen is a principal doorway into mainland China. Shenzhen is an export oriented city with more than US$ 537 billion in foreign trade in 2013, according to the local government. With 14 ports, sophisticated rail and road networks, and a first class airport servicing both ground and water landing, a significant majority of China’s shipping firms are headquartered in Shenzhen. Its high-tech industry leads its manufacturing output. With more than 300 financial institutions, Shenzhen seeks to position itself in the 21st century as a top international financial centers.