Shenzhen | China's MIRACLE City | China 4K | 中国奇迹城市 | 深圳 4K Shenzhen, a miracle that began in 1980 Forty years after its establishment as China's first special economic zone, Shenzhen has emerged as a symbol of the country's reform and opening-up. It has transformed from a fishing village to a sprawling industrial and financial megacity. Widely dubbed as a "miracle," this coastal city next to Hong Kong not only boasts strong manufacturing capacity and leading innovation, it represents China's efforts in the past several decades to pursue development from scratch. Before China started opening up its doors to foreign investment and transferring its planned economy toward a market economy starting 1978, Shenzhen was a small village with only 330,000 residents. Guangdong Province is one of China's richest regions now, but back in 1978, with agriculture as main industry, Guangdong's GDP per capita was only 370 yuan (53.6 U.S. dollars at today's exchange rate), lower than the country's average 156 U.S. dollars in that year, according to data from the Shenzhen government and the World Bank. In the same year, the GDP per capita in Hong Kong was 3,924 U.S. dollars. The early years of growth were not easy after the People's Republic of China was founded in 1949 from the ruins of the World War II and a civil war with Kuomintang. It stumbled through famine and an unsuccessful "Great Leap Forward," and then a decade of devastating Cultural Revolution (1966-76). The country was mainly a planned economy similar to that of the Soviet Union. There was little business contact with the West. And the average living standard was far behind the developed world in the 1970s. With the huge economic gap, many local inhabitants flooded to Hong Kong as illegal immigrants, to pursue better income. Official records show that about 150,000 Guangdong Province inhabitants left their hometown to Hong Kong before the reform and opening-up. The city of “miracle”. Fong’s story of rags to wealth, now threatened by a wider slowdown exacerbated by the coronavirus, reflects the history of his host city. Established in 1979 during China’s first wave of economic reforms that allowed private enterprise to play a role in a state-controlled system, Shenzhen has evolved from a collection of agricultural villages into a major global port home to some of China’s leading technologies. , finance, real estate and manufacturing companies. Over the past four decades, the city has seen economic growth of at least 20% per year. In October, the forecasting company, Oxford Economics, predicted that Shenzhen would become the fastest growing city in the world between 2020 and 2022. But she has since lost that San Jose crown to Silicon Valley in California. Shenzhen recorded overall economic growth of just 2% in the first quarter of this year, the lowest figure for the city, except for the first quarter of 2020, when coronavirus infections brought the country to a standstill. Shenzhen remains the largest exporter of goods in China, but its overseas shipments fell nearly 14% in March, preventing a COVID blockade that caused bottlenecks in its port. Please Subscribe To The Following Channels. ✅ YouTube: null ✅ Twitter: https://twitter.com/ReporterfyMedia --------------------------- If you'd like to support the channel / 如果你想支持我的频道: --------------------------- 🧧 WeChat / 微信: https://imgur.com/a/wXZPir2 ☕ Buy us a coffee: https://www.buymeacoffee.com/reporterfymedia 🅿️ Patreon: https://www.patreon.com/ReporterfyMedia?fan_landing=true 💳 PAYPAL DONATIONS: https://www.paypal.com/paypalme/reporterfy --------------------------- PLEASE SUBSCRIBE TO THE FOLLOWING CHANNELS. 🏆Reporterfy Media:null 🏆Shopazon Julia&Lana: null -------------------------- **🎵Enjoy Our Music***30-day free trial. Cancel anytime.** Get full access to over 35,000 tracks & 90,000 sound effects. 🎵Music supplied by Epidemic Sound: http://share.epidemicsound.com/3q29H6 Email us or comment if you want to know the music we used. MUSIC SONG: Jones Meadows -------------------------- Let us know in the comments. If you learned something, please don’t forget to leave a thumbs up and make sure to subscribe to Reporterfy Media. All drone footage was licensed or otherwise created by the producer. All voiceovers were created by myself in a studio from my research notes. I own of have paid a full license fee for all footage. I also have a full license for any additional graphics, transitions and music. Fully registered commercial copyright material. No unauthorized use of our footage is accepted. Copyright © 2022 by Reporterfy Media. All Rights Reserved. All footage from CCTV has been FULLY LICENCED by Reporterfy Media WATCH! our Latest Video : 🔔Now Showing🔔 CHINA'S SUPER RICH CITY : https://www.youtube.com/watch?v=yMZ8vNPAi2o #shenzhen #chinadrone #china