Shenzhen Becomes 'World Factory'

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Last updated at: (Beijing Time) Tuesday, February 19, 2002

Shenzhen Becomes 'World Factory'

Shenzhen, in south China's Guangdong Province, has become a competitive "world factory", with processing making up 84 percent of all 2001 exports and bringing 31.2 billion U.S. dollars.

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Shenzhen, in south China's Guangdong Province, has become a competitive "world factory", with processing making up 84 percent of all 2001 exports and bringing 31.2 billion U.S. dollars.

Last year, the city's industrial output value reached 309.7 billion yuan (37.3 billion U.S. dollars), 17.5 percent more than last year. Sixty percent of local industrial products were made for export.

In 2001, Shenzhen, the country's first special economic zone, generated 11 billion U.S. dollars in the export of hi-tech products. It manufactured 45 percent of the watches and clocks produced worldwide and is one of the world's major toy processing centers.

Local officials attribute the city's fast growth mainly to its export-oriented economy.

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