Shenzhen has ranked top among all large and medium-sized Chinese cities in import and export volume for 16 consecutive years. Of the 500 biggest global companies, 162 have branches in the city. One in every five cell phones is made in Shenzhen.

Import and Export

Although bearing the brunt of the global financial crisis, foreign trade continued to grow in Shenzhen in 2008, with total exports and imports reaching US$299.97 billion, up 4.3 percent from the previous year. Total exports reached US$179.74 billion, up 6.6 percent from the previous year and comprising 12.6 percent of the national total. Total imports reached US$120.23 billion, up 0.98 percent from the previous year.

Direct Foreign Investment

Direct foreign investment in Shenzhen primarily covers fields like telecommunications, chemical materials and chemical products manufacturing, textiles, information transmission, computer service and software, real estate and retail. In 2008, direct foreign investment in Shenzhen reached US$ 4.03 billion, up 10.01 percent from the previous year.

Economic and Technological Cooperation

In 2008, new contracts worth US$7.369 billion were signed in labor and engineering projects, up 41.3 percent from the previous year. The contracts resulted in a turnover at US$6.533 billion, up 27.3 percent from the previous year.