Report on the Development of the Shenzhen Special Economic Zone

Abstract

In 2016, the development of the Shenzhen Special Economic Zone was remarkable: economic growth took the lead in the province, the industrial structure was continuously optimized, the replacement of old growth drivers with new ones was accelerated, the qualitative advantage of development was highlighted, the economic quality and ecological quality were “double-improved”, the decline in foreign trade was stabilized, the growth of domestic trade accelerated, the level of economic development was heightened, the per capita income continuously increased, the number of patents was leading in the country, and the ability to innovate was enhanced. The comparative analysis of the competitive power of each district based on the model of the principal component analysis showed that Nanshan District was the most competitive district ahead of other districts regarding economic scale, the level of economic development and the capability for innovation, and leading in the speed of economic development and in population; Longgang District and Futian District ranked in the second place and the third place, and they had their own strengths in different indicators. The ranking of comprehensive competitive power and capability for innovation were highly consistent, and the driving role of innovation in economic growth was becoming increasingly obvious. Moreover, the Shenzhen Special Economic Zone also faced problems and challenges, such as rising business costs, insufficient land space, and weaknesses in public services. To solve these problems, the policy suggestions for further promoting the economic development of the Shenzhen Special Economic Zone are proposed.