Shenzhen has the most ports in China and is the country's only city with sea, air and land ports. The city is one of China's major channels of communication with the outside world. It boasts strong economic growth and a modern urban infrastructure. The 2007 Blue Book on Chinese Cities' Competitiveness, released by the Chinese Academy of Social Sciences, shows that Shenzhen ranks in first place among Chinese mainland cities in terms of all-round urban competitiveness.

Economic Growth

In 2006, the gross domestic product (GDP) of Shenzhen reached 568.4 billion yuan, with a year-on-year increase of 15 percent. Its industrial added value totaled 272.3 billion yuan, a 17.2 percent increase over 2005; the total fixed asset investment reached 127.2 billion yuan, a 7.7 percent increase; and the turnover from retail sales of consumer goods amounted to 167.1 billion yuan, up 16.2 percent. The city's total import and export volume hit US$237.4 billion, up 29.9 percent from the previous year. Of that figure, US$136.1 billion was contributed by exports, an increase of 34.1 percent. Shenzhen has been ranked first among Chinese mainland cities over the past 14 consecutive years in terms of total export volume.

Economic Scale

The overall economic scale of Shenzhen, ranked fourth among mainland cities, is equivalent to that of a medium-sized province in China, making the city the most vigorous economy in the country. In 1979, Shenzhen's per capita GDP was only 606 yuan. By 2006, its per capita GDP reached 8,619 yuan, the highest among Chinese mainland cities.

Fiscal Revenue

The city's fiscal revenue reached a historic high in 2006. In addition to the 113.016 billion yuan submitted to the Central Government, the city reported 50.088 billion yuan in local revenue, an increase of 8.85 billion yuan, up 21.46 percent over the previous year.

Economic Status

Since the Shenzhen Special Economic Zone was established 27 years ago, Shenzhen has been transformed from a small border town into one of China's key cities in areas such as high-tech industries, foreign trade and sea transport. Located at the forefront of the Pearl River Delta, Shenzhen is a bridge linking Hong Kong and the hinterland of China. It also serves as an important transportation hub in South China. The Shenzhen Special Economic Zone will play an important role in China's system reforms and opening up to the rest of the world.

Prices and Incomes

Shenzhen has seen a steady growth in its residents' annual income. In 2006, its per capita deposable income was 22,567.08 yuan, up 5 percent over the previous year, while overall consumer prices increased 2.2 percent from the year of 2005.

Factor Market

Human Resources
From 1985 through 2006, Shenzhen had brought in 270,000 overseas experts in various fields, including about 10,000 returned overseas Chinese students. The city now has more than 1.67 million professionals, making Shenzhen an important base for focusing and harnessing talent.

Commence and Trade
The city's consumer market is in stable growth. In 2006, retail sales of consumer products totaled 167.129 billion yuan, up 16.2 percent over the previous year. The city's retail industry had more than 300,000 employees and the total number of retail outlets exceeded 90,000 with floor space totaling more than 5 million square meters. The city had more than 50 supermarkets with floor space exceeding 10,000 square meters, and Dongmen and Huaqiangbei emerged as the city's two main shopping centers, each covering an area of 1 million square meters. World famous retailers, such as IKEA, Jusco, B&Q and Target, have set up their regional headquarters, procurement centers and supply centers in Shenzhen.

Real Estate Industry
Shenzhen has set up an excellent regulation system for land and real estate marketing and management. A survey report, released by the Guangdong Provincial Statistics Bureau, shows that Shenzhen ranks first among the cities in the Pearl River Delta region in terms of competitiveness in real estate development. There are more than 700 companies involved in real estate development in Shenzhen.

Guarantor Industry
Credit guarantor institutions have more than 500 employees, of which 33 percent have a master's or higher degree; 6.34 percent are certified with senior profession accreditation and 24.3 percent are graduates majoring in finance.

Trade Fair Sector
Shenzhen is well-known for trade fairs. The city's watch and clock exposition has become the industry's third-largest trade fair around the world. The furniture and jewelry trade fairs are becoming increasingly known internationally and have become larger in scale. The Shenzhen Convention and Exhibition Center, built with an investment of 2.5 billion yuan, covers an area of 220,000 square meters with floor space totaling 280,000 square meters. It was completed and put into use in 2004. Among more than 170 companies involved with trade fairs, 25 have a registered capital higher than 10 million yuan.

Intermediary Services
With the implementation of CEPA (Mainland and Hong Kong Closer Economic Partnership Arrangement), intermediary businesses, mainly including accounting, consulting and legal services, have given a new boost to the city's economic growth. In 2006, there were 231 law firms with 4,105 certified lawyers, and 253 accounting firms with 3,000 certified accountants.

Constellation of Peripheral Industries

Shenzhen is a showcase center for the transfer and trade of high-tech products in China. It also serves as the national distribution center for many patent products, such as electronics products, timepieces, furniture and agricultural products.
Shenzhen and the Pearl River Delta region have rich human resources, a high level of technology, fast transport facilities, and good logistic services. Various products, such as electronic parts, metals, chemical raw materials, textiles and   agricultural products, can be purchased within three hours in a region that has Shenzhen as its center. Once products are made in this region, they can be distributed to all parts of the world through the two airports in Shenzhen and Hong Kong within two hours.

Independent Innovation and Technological Research

Shenzhen has built up a market-oriented research system, which is led by local enterprises and backed up by domestic universities and research institutes. This has enabled the city to improve its capacity for independent innovation. Since 1992, the output value of high-tech products has been increasing at 46.5 percent year-on-year, and the total number of patent applications has been growing with a year-on-year increase of over 30 percent. The output value of those high-tech products with independent intellectual property rights has made up 58.9 percent of the city's total.  
During the period of the city's 11th five-year program, the municipal government is expected to invest 10 billion yuan of its fiscal revenue in scientific and technological research and development. Together with investments from enterprises, the city's total investment in research and development is expected to reach 100 billion yuan.

China's Brand-name Products

Shenzhen has implemented a "brand name" strategy, and developed a number of enterprise groups, or conglomerates, with brand-name products. By 2006, 12 products made in Shenzhen, including Kingway beer, Konka television, Great Wall computer (server), Skyworth television, BELLE leather shoes, Fuanna bedware, Taifeng phone set, Fiyta watch, and Everbright clock, had been honored as "China's Brand Names." Shenzhen ranks in second place among Chinese mainland cities in terms of brand-name products.