20 years of rapid economic growth has brought Shenzhen to the forefront of major Chinese cities in terms of overall economic strength. An export-oriented economy within a market framework has taken shape. GDP for 1999 stood at US$ 17.35 billion, ranking the sixth among major mainland cities. Industrial output value hit US$ 24.47 billion, coming off the fourth in the nation. Import and export of goods and services totaled US$ 50.42 billion, rendering Shenzhen to be the largest hard currency earner in China for seven years on end. Shenzhen boasts a complete range of industries covering over 2,000 product lines.
Recent years have seen the rapid development of high-tech industries featuring computer and software, telecommunications, bio-engineering, microelectronics and accessories. In 1999 the value derived from high-tech businesses took up 40.5% of the total industrial output, the highest proportion in all major cities. In 1999 the high-tech sector registered US $6.018 billion worth of exports representing a year-on-year rise of 8.26%. Priority is given to nurturing export bases for high-tech products. A batch of high-tech enterprises have sprung up in the process, each of which exporting a minimum of US $ 100 million worth of goods and services. The services sectors gaining ever greater momentum as such emerging industries as finance, information, tourism, trade, real estate, warehousing, and transportation conspire to make Shenzhen stay competitive. As one of the two stock exchanges in China with a host of financial institutions, Shenzhen is fast becoming a regional financial center. By the end of 1999, 100 financial institutions dot the city with a professional staff of 30,000. Economic and trade links with over 120 countries and regions in the world have been established. Science and technology is playing an increasingly upfront role in the growth of the local economy. The city has to its credit 200 RSD centers whose rate of materialization is as high as 90%.

Source: Shenzhen Municipal Foreign Investment Bureau

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