Shenzhen is working to build a pilot demonstration area for socialism with Chinese characteristics, and endeavors to become a model city for a strong, modern socialist country.
Visitors will find these words at the entrance of the city’s Reform and Opening-up Exhibition Hall that showcases its economic and social transformation since the country's reform and opening-up began.
In 1980, previously a small fishing village with a population of just 30,000, Guangdong Province’s Shenzhen was granted the status of a special economic zone (SEZ). Over the years, the small port town in southern China has achieved an unprecedented level of economic development, which has surpassed all expectations.
From being a relatively unknown suburb of Hong Kong, Shenzhen has transformed into a bustling metropolis with a thriving economy, thanks to the government’s efforts to promote foreign investment and trade.
Its strategic location, excellent infrastructure, and skilled workforce have made it an attractive destination for both domestic and international investors.
Shenzhen has accomplished several significant achievements that have made it a role model for other cities in terms of development.
For instance, in December 1987, the city held China's first auction for state-owned land since the founding of the People's Republic. This event marked a significant reform in the country's land-use system.
Today, Shenzhen is home to some of the world's largest technology companies, and it is widely regarded as a hub for innovation and entrepreneurship with strong manufacturing capacity.
A team of visiting journalists facilitated by the Chinese Embassy in Dhaka explored the city recently to see the transformation. Reform and Opening-up Exhibition Hall, Huawei and Mindray Medical International Limited Headquarters were among the places.
Reform policy opened the door of change
Xi Zhongxun became the Party head of Guangdong Province in April 1978. He was determined to address the population outflow caused by poverty. The plan was supported by the Deng Xiaoping government, who initiated China's reform and opening-up.
Guangdong was given more autonomy to "take a step forward" than the rest of the country to develop its economy and export business, according to a report published by China Global Television Network.
In the wake of various local surveys, four cities were selected as the inaugural "special economic zones" for export businesses.
These cities are Shenzhen, Zhuhai, and Shantou in Guangdong Province, and Xiamen in Fujian Province. Shenzhen was the first to be launched officially in 1980, while the other three were announced in the subsequent two years.
At that time, Shenzhen managed to attract investors from Hong Kong and Macao due to its unique preferential policies regarding land leasing, tariff reduction, and simplified investment procedures.
These policies were particularly attractive at that time since most of inland China had not yet opened to overseas investment. It did not take long for Shenzhen's economy to take off – its GDP reached 3.9 billion yuan in 1985, 14 times of that in 1980, CGTN reports.
An UN Human Settlements Program’s research in 2019 showed that Shenzhen rapidly developed in four phases since 1978. Until 1992 it went under labor-intensive development and gained manufacturing experience assembling imported parts.
From 1992 to 2003 they focused on capital-intensive development. The city attracted more foreign direct investment and gradually transferred to electronic and information industries. Gradually Shenzhen became the hub of the world's telecommunications devices supply.
From 2003 to 2013, Shenzhen graduated to the middle of the global industrial value chain with private high-tech business formed clusters.
Over the time, the government made significant investments in the development of critical infrastructure such as roads, ports, railways, and telecommunications networks.
These improvements were aimed at enhancing the city's appeal to foreign investors by providing them with the necessary infrastructure to conduct business smoothly and efficiently.
During the media delegation’s visit to Shenzhen, Director General of Foreign Affairs Office of the Government of Shenzhen Ms Cao Saixian hosted a meeting and banquet at Futian Shangri-La for Bangladeshi journalists.
At the programme, she explained how the new city became China’s “Silicon Valley.”
She said that they invited the young talents across the country to work at the companies. The city’s innovative policies, strategic initiatives and smart pay attracted the youths to work for them. Gradually, the city becomes a place of outsiders including workers and investors.
