Shenzhen Economy Restructures after 30 Years of Opening

The southern Chinese city of Shenzhen is marking its 30-year anniversary today(Thursday) of becoming one of this country's first Special Economic Zones. And as Su Yi reports, the city is continuing to look forward by restructuring its economy to attract even more foreign investment and industrial innovation.

Su Yi has more.

The costal city bordering another Asian economic hub - Hong Kong - has grown from a small fishing village of only 30-thouasnd residents into an international metropolis of nearly 15 million people, and 9 million of them are permanent residents.

Australian Rina Bell has lived in Shenzhen with her two children for a year. She says no one there can actually call themselves a "native."

"All people in Shenzhen came from different parts of China. This is quite special. Thus Shenzhen is not only a center for global culture but also a center for Chinese culture."

In step with the rising population, the city has expanded to five times its size of 30 years ago, when it was still Baoan County.

Local land resources official Xue Feng says the city planers have recently introduced 20 new city renewal projects.

"These projects cover various categories, including upgrading old industrial areas and renovating shanty towns and old villages. It is noteworthy that some of the projects can start right away from a clear space."

Wiping out old buildings to erect skyscrapers may have helped the young city reach a gross domestic product of 820 billion yuan, or some 120 billion U.S. dollars, last year, twice the 1978 national GDP.

But business leaders such as Deng Guoshun, CEO of Netac Technology, a world-class flash-disk manufacturer, says local enterprises are aware of the importance of shifting away from their historical role as manufacturers.

"Only enterprises that are good at innovation can develop in today's business world, so now we are focusing on making a profit by selling patents, and it is not just about lawsuits."

Along with Shenzhen, other southern coastal cities like Zhuhai, Shantou and Xiamen were also among the first group of special economic zones established 30 years ago.

For CRI, I'm Su Yi.