Author | Yangzi

Editor | Weber

Unlike other cities in human history, Shenzhen was "built" rather than naturally evolved.

Throughout human history, cities have gradually developed as necessary conditions for survival, accumulating unique cultural atmospheres and depths. Shenzhen, however, follows a different path.

Shenzhen has grown rapidly. 40 years ago, it was just a large county town with an area of 2,000 square kilometers and a GDP of only 179 million yuan, less than 1% of Hong Kong's at the time. But today, Shenzhen has rapidly grown into the fourth-largest city in Asia in terms of economic output, after Tokyo, Shanghai, and Beijing, a true miracle in urban development history.

Even today, Shenzhen continues to "run like an elephant." In the first half of this year, Shenzhen ranked first nationwide in total import and export volume, growth rate, and separate export and import growth rates. More importantly, Shenzhen accounts for 11.6% of the country's total exports, leading the nation for 31 consecutive years, and still growing at a rate exceeding 30% despite its significant export volume.

'Shenzhen Speed,' 'Daring to be the First,' and the 'Money-Making Spirit' are the labels most people associate with Shenzhen.

In Shekou, Shenzhen, there is a giant signboard inscribed with the words, 'Time is money, efficiency is life,' seemingly emphasizing speed as Shenzhen's defining characteristic.

At the same time, Shenzhen is diverse. As an immigrant city, Shenzhen is like a Rubik's Cube, inclusively absorbing dream-seekers from all directions. Its inclusiveness also presents a diverse palette. On Quora, a highly upvoted answer to the question 'What cities/towns in China would you recommend for a first-time visitor?' recommends Shenzhen to overseas travelers: 'This city has developed rapidly over the past 40 years and is a microcosm of contemporary China's development.'

Countless people want to understand how Shenzhen has evolved over the past 40 years. To comprehend Shenzhen, one must delve into not just its urban landscape but also its industrial chain. Shenzhen is a mystery that attracts countless dream-seekers and inspires builders to sweat and strive.

This is a land embraced by the sea since ancient times. Located south of the Tropic of Cancer and to the east of the Pearl River Estuary at the eastern side of the Lingdingyang Bay, it boasts a golden coastline of over 260 kilometers and one bay after another: Daya Bay, Dapeng Bay, Shenzhen Bay, Qianhai Bay, and Chiwan Bay.

Shenzhen is inherently export-oriented.

Take Yantian Port in Shenzhen as an example. Its annual throughput exceeded 10 million TEUs 17 years ago. Every day, countless giant ships carrying goods from around the world line up to dock here, their colorful containers packed tightly, adding a splash of color to the bustling port.

Let's rewind to over 40 years ago. In January 1979, the State Council approved the establishment of China's first export processing zone and the country's first Export oriented Economic Development Zone in Shekou, Shenzhen. In 2001, after China officially joined the WTO, import and export began to flourish, and the 'three-comes-one-makes up' policy further accelerated foreign trade. Geographical advantages, the benefits of the times, and lenient policies converged in Shenzhen, either accidentally or inevitably, unleashing the power of cross-border e-commerce trade.

Shenzhen's open attitude towards the outside world has not only brought it capital but also cultivated its technological strength in backend manufacturing. This globally leading manufacturing capability, in turn, has propelled Shenzhen further outwards.

Located across the sea from Hong Kong, Shenzhen has a reference model for urbanization, attracting considerable foreign investment.",

Shenzhen's industrial chain map, drawn by Xiaguang Club

The clustering effect of the industrial chain has continuously infused new vitality into Shenzhen's traditional manufacturing sector. Taking new energy vehicles as an example, Shenzhen's automotive industrial chain and supply chain have emerged with promising stocks in various sub-sectors, constructing a complete industrial chain encompassing vehicles, power batteries, motor controls, autonomous driving, smart cockpits, charging infrastructure, and the automotive aftermarket. Xiaomi has also invested in several Shenzhen enterprises within the new energy industry chain, including 13 companies such as Huayuan Zhixin, Sudeng Juchuang, Qiyuan Technology, and Newdirui, spanning various industries like chips, LiDAR, lithium batteries, and pressure sensors. This underscores Shenzhen's comprehensive strength in the industrial and supply chains. Additionally, Shenzhen boasts BYD and CATL in the battery sector, Feirongda for thermal management technology, and TCL Huaxing for in-vehicle infotainment systems, all essential members of the industrial cluster.

Similarly, industrial clusters have attracted entrepreneurs and talent to Shenzhen. The entrepreneur cluster is not merely a connection but a social network that provides successful role models and encourages emulation. Shenzhen's technological talent pool in the 1980s was built, in part, by the presence of state-owned enterprises represented by central enterprises. Many of Shenzhen's first wave of high-tech companies had varying degrees of connection with these state-owned enterprises. For example, ZTE's predecessor, Zhongxing Semiconductor, was established in 1985 when a state-owned aerospace factory in mainland China, the 691 Factory, decided to seek partners in Shenzhen, jointly investing with Hong Kong Yunxing Electronics Trading Co., Ltd., and the Shenzhen branch of the Great Wall Industry Corporation of the aerospace system. More importantly, years of dialogue with the global market have equipped many Shenzhen companies with a global perspective from the outset. The term "born global" is not an exception but a common phenomenon in Shenzhen. The globally renowned business magazine BusinessWeek (Chinese edition) described Shenzhen as "China's most innovative city with a Silicon Valley vibe." Shenzhen's unique blend of technology, industrial infrastructure, immigration, adventure, and entrepreneurship has attracted generations of new immigrants, as noted by Nobel laureate Christopher Pissarides: "Shenzhen's inventions and discoveries are influencing China and even the world."

Hidden champions often go unnoticed. On the one hand, their products are not directly visible to consumers. On the other hand, they often choose to remain silent. Hermann Simon's book "Hidden Champions: Lessons from the World's Most Successful Unknown Companies" identifies 92 Chinese hidden champions, with 25 from the Pearl River Delta region, accounting for a quarter of China's hidden champions. As a cradle of hidden champions, Shenzhen boasts influential global companies like Huawei, BYD, DJI, Foxconn, CSOT, TECNO, Konka, and Skyworth, yet its global fame lags behind. Weibo user Ning Nanshan once commented, "A simple way to distinguish foreign elites from the general public is whether they know about Shenzhen." As an immigrant city, Shenzhen attracts many outsiders due to its rapid manufacturing growth. In the early 2000s, Huaqiang North, the world's largest electronics component distribution center, drew many fortune seekers. One cross-border e-commerce seller in Huaqiang North shared, "A USB cable costing RMB 4 can sell for RMB 6-7 in Huaqiang North and fetch USD 15 on eBay a decade ago." This rapid development has turned Shenzhen into an immigrant city, bringing vitality and diversity. Since the reform and opening-up, Guangdong has gained over 70 million new residents, with 127 million permanent residents and 150 million real-time residents, making it home to one in every nine Chinese. Immigrant cities value contracts, rules, and diversity, fostering a more inclusive society and supporting complex, highly specialized modern economies.

In a sense, Shenzhen is a "city without a master." From 1979 to 2021, its permanent resident population surged from 310,000 to 17.56 million. Notably, among first-tier cities, only Shenzhen's registered population falls short of half its permanent resident population. Shenzhen is making itself attractive to younger generations. Effective urban planning ensures ample parks near most communities, some with jogging paths. Young people flock to these parks after work for various sports activities. With hilly terrain, Shenzhen boasts many mountains and rivers, making weekend hikes accessible. The foot of Dawutong Mountain, known as "the First Peak of Pengcheng," sees long queues of early risers hoping to catch the sunrise. "Shenzhen Nature Notes" compares the natural environments of first-tier cities, noting Shenzhen's uniqueness: "Among the four first-tier cities of Beijing, Shanghai, Guangzhou, and Shenzhen, Shenzhen is the only one that simultaneously boasts urban areas, mountains, streams, lakes, forests, ancient villages, oceans, islands, and China's most beautiful coastlines, providing habitats for diverse life forms." Despite occupying just 0.02% of China's landmass, Shenzhen is home to 20% of the country's bird species, 10% of its mammals, and 20% of its reptiles. With 50% of its land covered in vegetation, Shenzhen boasts 2,979 recorded plant species, exceeding the entire European continent. Young people drive Shenzhen's development, as evidenced by the packed subways during the hottest days, when commuters escape boredom by reading books like "The Wealth of Nations" or "The World in 5000 Days".