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1980s:
The 1980s witnessed the Shenzhen Special Economic Zone take off with an influx of foreign investors and migrant workers.
The decade also saw bold reforms unfold in the Special Economic Zone — such as the emergence of the then controversial stock market, reviled by conservatives across the nation as a "product of decadent capitalism" — and the market economy and export-oriented economy taking shape. |
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1990s:
The decade saw a new economic vitality spreading rapidly and reform in full swing in Shenzhen.
The immense economic success of the special economic zone paved the way for remarkable changes to national economic policy and prompted the Central Government to pilot reforms in other cities to step up the reform and opening up.
In the meantime, Shenzhen delved into more technologically intensive industry by attracting professionals from other parts of China and offering favorable policies for high-tech companies. Affluent Shenzhen citizens have also led the nation in philanthropic acts and paid more attention to cultural and creative industries.
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