CAPE TOWN - Around 30 years ago Shenzhen a city in China was just an ordinary fishing village.
In recent times, the city has developed in line with the world’s demand for electronic goods.
Inc. reported that 90% of the world’s electronics come from Shenzhen, including televisions, mobile phones, drones etc. The city is also China's wealthiest city. On the global list of cities with the most billionaires, Shenzhen ranks number eight.
How was the city able to achieve such development?
In 1979, China's Communist Party leader Deng Xiaoping designated the city as the country's first Special Economic Zone. The meant that the region would adapt to capitalism and foreign investment.
The city is home to large high-tech companies, such as telecoms firm Huawei, smartphone maker ZTE and internet giant Tencent. It is also home to the world’s largest drone manufacturer DJI and the robot kit maker Makeblock.
What makes the city unique:
It has a large scale of goods and skills available.
For example, Huaqiang Electronics World is a vast electronics market in Shenzhen with traders selling pretty much every component needed to make the world’s gadgets such as circuit boards, LEDs and microchips.
Since the city has the world’s largest manufacturing hub, it attracts large amounts of freelance mechanical and electrical engineers.
- BUSINESS REPORT ONLINE