IN just 40 years, Shenzhen has grown from a small fishing town to a megacity with a population of 17.56 million. Treading on the heels of Beijing and Shanghai, the city’s total GDP ranks it third among more than 300 Chinese cities. In 2020, Shenzhen’s total GDP reached 2.77 trillion yuan, and its per capita GDP exceeded the US$30,000 mark for the first time, meaning it has entered the ranks of the world’s advanced economies.

An economic powerhouse in the Guangdong-Hong Kong-Macao Greater Bay Area, Shenzhen is at the forefront of technological innovation. A large number of high-tech companies with national and global clout have emerged, including Huawei, Tencent, DJI and BGI, among others. Many of China’s financial and real estate giants, including China Merchants Bank, Ping An Insurance and Vanke, have also prospered in the city.

Shenzhen’s economic miracle is the best portrayal of the advantages of the socialist system with Chinese characteristics, and the leadership of the Communist Party of China (CPC) is indispensable to its success. The city’s brilliant achievements are the best gift for the 100th anniversary of the CPC.

(SD News)