Shenzhen Opens Office in NYC to Promote Trade & Relations

In a recent press release published online by Marketwatch, on Oct. 27, 2008, Shenzhen will officially opened a office in New York City.

The City of Shenzhen, China announced today that it will be hosting a luncheon ceremony on October 27 at the Marriott Marquis in New York, to celebrate the opening of the New York Representative Office of Shenzhen and to discuss key economic developments as well as business opportunities between Shenzhen and the U.S.

The opening ceremony will not only include government officials and representatives of Shenzhen and the Chinese consulate in NYC, but it will also include prominent leaders of major electronics and financial firms based in Shenzhen.

What seems most likely is the continued expansion of ties in the financial and high tech industries. Shenzhen has already planned a NASDAQ exchange for small and medium sized companies that can supplement the already existing Shenzhen Exchange. It is also focused on decreasing the number of value-added companies (that produce toys for example) and promote the high tech industry. This would push it away from just a factory town to a city of innovation, design and creatvity.

Great move by Shenzhen. Silicon Valley anyone?