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Shenzhen’s development since China’s reform and opening-up profound

2018-May-27       Source: Newsgd.com

The Communist Party of China (CPC) event ‘In Dialogue with World Political Parties’ is being held in Shenzhen from From May 26th to 28th.

The Communist Party of China (CPC) event ‘In Dialogue with World Political Parties’ is being held in Shenzhen from From May 26th to 28th.

The event features a meeting on the “Implementation of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era in Guangdong Province”, and showcases Guangdong’s remarkable progresses in various aspects especially since the 18th National Congress of the CPC.

Newsgd.com will release a special report on Shenzhen, the spearhead of China’s reform and opening-up movement, focusing on Shenzhen’s development, its spirit of innovation, and the people working in this thriving city.

Shekou enterprises grow rapidly over the past 39 years

The port at Shekou

As the result of a land reclamation project in Shenzhen the port in Shekou was built in 1978. China Merchants Group (CMG), a 146 year old state-owned corporation, then established the Shekou Industrial Zone, China’s first export processing zone.

CMG’s industrial zone has been home to a large number of companies over the past 39 years, such as, China Merchants Bank, China’s first joint-stock commercial bank wholly owned by corporate legal entities, Ping An Insurance, China’s first commercial insurer established by corporate legal entities, and China International Marine Containers, the world's largest manufacturer of tank containers.

CMG is now a major contributor to Shenzhen and Guangdong’s economy. “CMG started business in Shekou, and serves as Shenzhen’s Special Economic Zone’s pathfinder through the Shekou Industrial Zone,” said Li Jianhong, chairman of the board of CMG.

Shekou Industrial Zone

Thus far, CMG’s businesses are all clustered in Shenzhen with 12 secondary enterprises including China Merchants Shekou Holdings, China Merchants Bank and China Merchants Securities. They have grown together with the city and are further expanding into the international market.

Li Jianhong said CMG’s business performance hit a record high in 2017, with its revenue reaching 584.4 billion RMB. And the company had 7.3 trillion RMB in assets by the end of 2017, ranking first among all the SOEs.

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Editor: Jasmine

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