Shenzhen is a coastal city in South China, adjoining Hong Kong. Sitting south of the Tropic of Cancer, it is in southern Guangdong Province. Demarcated from Hong Kong by the Shenzhen River in the south, it is bordered by Dongguan and Huizhou in the north, Daya Bay and Dapeng Bay in the east and the Lingding Sea and the mouth of the Pearl River in the west.
In 2015, Shenzhen's GDP totaled $270 billion, putting it on par with a mid-sized province by terms of total GDP. Its total economic output is higher than that of Portugal, the Republic of Ireland, and Vietnam. Its per-capita GDP was ¥164,664 ($25,038) as of 2014, on par with some of the developed countries of the OECD. Shenzhen was the first of the Special Economic Zones to be established and it showed the most rapid growth, averaging at a very high growth rate of 40% per annum between 1981 and 1993, compared to the average GDP growth of 9.8% for the country as a whole. The economic growth later slowed after this early breakneck pace; from 2001 to 2005, Shenzhen's overall GDP grew by 16.3 percent yearly on average, though growth has slowed to around 10% per year since 2012.
Shenzhen is in the top ranks among mainland Chinese cities in terms of comprehensive economic power. Shenzhen's economic output is ranked fourth among the 659 Chinese cities (behind Beijing, Shanghai and Guangzhou).
In 2001, the working population reached 3.3 million. Though the secondary sector of industry had the largest share (1.85 million in 2001, increased by 5.5%), the tertiary sector of industry is growing fast (1.44 million in 2001, increased by 11.6%). The proportion of the three industries to the aggregate of GDP was 0.1:46.7:53.2 in 2009. The proportion of the primary industry to GDP was down by 13.4%, and the tertiary industry was up by 12.5%. Its import and export volumes have been first for the last nine consecutive years. It is the second in terms of industrial output. For five consecutive years, its internal revenue within local budget ranks third. It also ranks third in the use of foreign capital.
Shenzhen is a major manufacturing center in China. In the 1990s, Shenzhen was described as constructing "one high-rise a day and one boulevard every three days". The Shenzhen's rapidly growing skyline is regarded as one of the best in the world. It currently has 59 buildings at over 200 meters tall, including the Kingkey 100 (the 14th tallest building in the world) and Shun Hing Square (the 19th tallest building in the world).
Shenzhen is home to some of China's most successful high-tech companies, including BYD, Konka, Skyworth, Tencent, Coolpad, ZTE, Gionee, TP-Link, DJI, BGI (Beijing Genomics Institute), OnePlus and Huawei. Taiwan's largest company, Hon Hai Group, has a large manufacturing plant based in Shenzhen. Many foreign high-tech companies have their China operations centers located in the Science and Technology Park of the Nanshan District. Additional examples of successful Chinese companies with large operation in Shenzhen include, China International Marine Containers which is the largest container-manufacturing company in the world, and Vanke which is the largest residential real estate developer in China. In the financial sector, Ping An Bank and China Merchants Bank are some of the largest banks in China, with headquarters in Shenzhen.
Due to its unique status, Shenzhen is also an extremely fertile ground for startups, be it by Chinese or foreign entrepreneurs. Successful startups include Petcube, Palette, WearVigo, Notch and Makeblock. Shenzhen is also the product development base of the hardware startup accelerator, HAX Accelerator (formerly HAXLR8R).
Shenzhen is a sub-provincial city. It has direct jurisdiction over six districts and four new areas: Luohu, Futian, Nanshan, Yantian, Bao'an and Longgang districts, and Guangming, Pingshan, Longhua and Dapeng new areas. The Central Government expanded the special economic zone to cover the whole city on July 1, 2010.
As a city of migrants, Shenzhen is open-minded, tolerant and innovative. It is an ideal place for domestic and international talent to start businesses. It has been voted as China's Most Dynamic City and City Most Favored by Migrant Workers. In 2011, Shenzhen was named by Forbes' Chinese version as the most innovative city on the Chinese mainland. According to the "2012 Chinese City Competitiveness Blue Book," released in May 2012 by the Chinese Academy of Social Sciences, Shenzhen is the third-most competitive city on the Chinese mainland.
Shenzhen has a subtropical marine climate. The weather is generally temperate to mild, with plenty of rain and sunshine. The annual average temperature is 22.4 degrees Celsius. A total of 355 days a year are frost-free. The yearly rainfall totals 1,933.3 millimeters and the average annual number of hours of sunshine is 2,120.5.
Shenzhen will be a pilot zone for a national comprehensive reform program and will be built into a national economic hub, State-level innovative city, model city with Chinese characteristics and an international metropolis.