Shenzhen is one of the fastest developing cities in the world and one of the most economically developed cities in China. In a little more than 30 years, the city’s GDP has grown at an average annual speed of 25%, and exceeded 230 billion USD in 2013. Its aggregate economic output continues to rank 4th among medium and large Chinese cities, with per capita GDP exceeding 20,000 USD.
Shenzhen has built a new industry structure based on hi-tech and advanced manufacturing which is underpinned by the modern services industry. At the same time, the city is committed to governmental structure based on the rule of law. It has the exclusive legislative power advantage as Special Administrative Region (SAR), as well as a fair, transparent and relaxed development environment.
According to the economic ratings of the Brookings Institution in the US, Shenzhen is ranked among The Top 30 by aggregate economic output, whereas a Report of the McKinsey Global Institute pointed out that the number of corporate headquarters in Shenzhen is ranked 17th among 370 cities in emerging countries. In 2013, the International Cooperation Center of the National Development and Reform Commission of the People’s Republic of China(NDRC)released a research report on the Opening-up Index of Chinese Cities, which ranked Shenzhen on top of a number of well-performing cities. By various indicators including trade activities, investment activities, flows of elements, personnel exchange, information flow, innovation capability, and technology exchange, Shenzhen has taken an obvious lead over other cities.