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Shenzhen is a city of sub-provincial administrative status in southern China's Guangdong province, situated immediately north of Hong Kong. Owing to China's economic liberalization under the policies of reformist leader Deng Xiaoping, the area became China's first—and arguably one of the most successful—Special Economic Zones.
Shenzhen's novel and modern cityscape is the result of the vibrant economy made possible by rapid foreign investment since the late 1970s, when it was a small fishing village. Since then, foreign nationals have invested more than US$30 billion for building factories and forming joint ventures. It is now reputedly one of the fastest growing cities in the world. Being southern China's major financial centre, Shenzhen is home to the Shenzhen Stock Exchange as well as the headquarters of numerous high-tech companies. Shenzhen is also the third busiest container port in China, ranking only after Shanghai and Hong Kong.
Shenzhen is home to some of P.R. China's most successful high-tech companies, such as Huawei, Tencent, G'Five and ZTE. Huawei is headquartered in the Longgang District. A number of foreign IT companies also have facilities in the city. Taiwan's largest company Hon Hai Group has a manufacturing plant based in Shenzhen which makes most of the iPods, iPhones, iPads, iMacs and notebooks for Apple, Inc. Lenovo, the Chinese conglomerate that bought the personal computing division of IBM in 2005, manufactures its line of ThinkPad notebook computers in Shenzhen. IBM has a joint venture in Shenzhen manufacturing server products. Many of these foreign high-tech companies have their operations in the Science and Technology park in Nanshan District or outside the core districts where labor and land are much cheaper. In the financial sector, China Merchants Bank, one of the largest banks in China, has its headquarters in Shenzhen. Shenzhen City Commercial Bank, Ping An Insurance and Wal-Mart China are also based in the city.
