Yong Ying, director attached to the Office of the Trade and the industry of the city of Shenzhen, recently said, ‘I cannot say that the city of Shenzhen is not affected by the world financial crisis, but it should be able in spite of this to display an economic growth of 11.5% this year.
‘The growth rate of the exports of the city reached 17% to the first quarter, before descending to 8.8% in August, and to go back up to 9.2% in October. For all year in 2008, the volume of the exports could progress of 10%.’
According to statistics published by the Office of Trade and Industry of the city, the good performance of the local economy especially explains itself by the fast development of the enterprises of high technology and by the increase of the sales on the home market.
The township of Shenzhen, nicknamed ‘the window of the Chinese economy’, was declared a Special Economic Zone in 1980. Now it creates more than 15% of the exports of the country with a strong specialization in new technologies.
Source: Real Estate China