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 US$31.2 billion.
Last year, the city's industrial output value reached 309.7 billion yuan (US$37.3 billion), 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 US$11 billion in the export of high-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.
(People's Daily February 19, 2002)
