With a combination of a favorable political environment, location and local culture, Shenzhen has become a bustling metropolis that is comparable to just about anywhere in the world.
Here’s an excerpt from a recent Bloomberg article:
Shenzhen became the world's factory because Deng, then the paramount leader, selected it in 1980 as the launching pad for his open-door policy. Driven by his vision, the municipal authorities put in place the key amenities long before international investors took the bait.
What in 1979 was an agrarian backwater of 300,000 people is today a bustling metropolitan city of 11 million.
Shenzhen now has the world's fourth-busiest container port and
's fourth-largest airport. Expressways connect the industrial areas to a vibrant downtown. A subway system became operational in 2004. New towns are constantly being built, distances are getting squeezed. China
This description of Shenzhen (as well as others like it) is just the tip of what Shenzhen is. In a recent Shanghai Daily article, Shenzhen was mentioned again. This time it was compared to Shanghai.
The Shanghai Labor and Social Security Bureau surveyed 23,000 city residents aged 16 to
64 intheir homes last December about their attitudes towards starting a business.
The number of respondents who had opened their own company by the end of last year - 5.01 percent - was up slightly from 4.9 percent at the end of 2005.
By comparison, only 3.42 percent of respondents to a similar survey in
Beijingsaid they had started a business, while a whopping 10.49 percent of those surveyed in Province, had opened their own company. Shenzhen, Guangdong
Shenzhen’s population is 2x more likely to start a business than the people in
Here were my thoughts on Money and Shenzhen:
- I often try and think/develop business ideas. Moreover, I have a few possibly successful ideas that I’m working on.
- This is why
province is so incredibly successful in the world stage. This is not only where Chinese people who want to make money (whether it’s migrant labor trying to get ahead, HK businessmen with capital, ect.), but it is where the world is coming as well. Of course its location and proximity to HK has something to do with it as well. Guangdong
- I wonder if the culture is similar in the
region as well. Can anyone who knows about Shanghai add their 2 cents? Shanghai
- This entrepreneurial spirit feels like pure excitement. There are so many opportunities in
for anyone with a good idea. It is the ability as a person to take advantage of these opportunities. This is a big difference from the seemingly repetitive life of the China and even NYC. US
I guess the Shanghai Daily article partly answered my question. Even Shanghai, the financial capital of China, can't compare to Shenzhen when it comes to the entrepreneurial spirit.
Just to repeat this point and beat it over the head:
Shenzhen is a place like none that has ever existed in the world. Its unique combination of culture (or lack there of), government regulation, people, location, resources, ect. have created a place where capitalism is existing in an almost pure form.
It might as well be the Perfect Red Storm.