P. 9
$313.6 billion) per year having • Three to five-year tax exemptions for manufacturing
eclipsed Hong Kong in 2018. and operating sites by high-tech enterprises.
Shenzhen also has its own stock
exchange – the Shenzhen Stock • Five-year business tax exemptions for foreign banks.
Exchange. It is the eighth largest in
the world. • Value-added tax (VAT) and tariff exemptions for
imported materials used for finished products.
Industry development
• Equal living rates for foreigners and local citizens.
Important industries in Shenzhen
include technology, financial • Immunity from state quotas or permits for production.
services, modern logistics, and
the cultural sector. Shenzhen is • VAT exemption for goods made and sold locally.
seen as a global pioneer in several
high-tech sectors, including mobile The Shenzhen Free Trade Zone (Shenzhen FTZ)
technology, DNA sequencing, consists of four state-level development zones –
metamaterials, and 3D displays. Shenzhen Yantian Port Free Trade Zone (Shenzhen
Yantian Port FTZ), Shenzhen Futian Free Trade Zone
Leading companies headquartered (Shenzhen Futian FTZ), Shenzhen Shatoujiao Free
in Shenzhen are Tencent, Huawei, Trade Zone (Shenzhen Shatoujiao FTZ), and Shenzhen
ZTE, Baidu, and IBM as well Yantian Port Bonded Logistic Park (Shenzhen Yantian
as financial institutions HSBC, Port BLP).
China Merchants Bank, Standard
Chartered, and Citigroup. In April 2015, the Qianhai-Shekou Area of China
(Guangdong) Pilot Free Trade Zone – focusing on trade with
Other economic indicators Hong Kong – officially began operating within the city.

Investment and consumption (2019): South China Business Journal 6

• Total investment in fixed assets:
RMB 514.7 Billion (US$73 billion)

• Total retail sales of consumer goods:
RMB 601.6 Billion (US$85.2 billion)

Import and export (2019):

• Total value of imports and exports:
RMB 2,800 Billion (US$397 billion)

• Total value of imports: RMB 1,147
Billion (US$162.7 billion)

• Total value of exports: RMB 1,553
Billion (US$220.3 billion)

Policies and trends

Shenzhen’s SEZ was expanded
in 2010 from four districts to the
entire city. Businesses within the
Shenzhen SEZ enjoy a wide range of
tax exemptions, grants/loans, and
reduced rates. These notably include:
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