Technology

How Shenzhen became China’s Silicon Valley

How Shenzhen became China’s Silicon Valley

Between 1979 and 2019 Shenzhen's gross domestic output grew to 2.69 trillion yuan, or roughly US$390 billion. That’s an annual rate of 21.6 per cent. In 2018 the city’s GDP was US$370 billion while Hong Kong's came to US$360 billion based on that year’s official exchange rate, meaning Shenzhen's economy surpassed Hong Kong’s for the first time. In comparison Hong Kong had a GDP of US$28.9 billion in 1980 and the second-largest stock exchange in Asia, behind only Tokyo.

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