Why Shenzhen Is Known As The "World's Factory", Where 90% Of Our Gadgets Came From

Indira Datta - Jun 12, 2019

Shenzhen is known as the "world's factory" for a reason, and that's because90 percent of the world's devices are manufactured there.

Understandably, people call Shenzhen the "world's factory" since almost every electronic device around us is made here. It is estimated that nearly 90% of the world's electronics are manufactured in Shenzhen, from phones to televisions.

Shenzen-the-world-factory — Shenzhen is called the "world's factory"

About 30 years ago, Shenzhen was a relatively small town in China. Its population at that time was only about 30,000 people. The city was designated as China's first Special Economic Zone (SEZ) in 1980. The Chinese government has issued many support policies and subsidies to call for and attract investors from all over the world.

a-factory-in-shenzhen — Workers are working in a factory in Shenzhen, China.

It can be said that the strong development of e-commerce globally has helped Shenzhen become the richest place in China. Per capita income here is at least 50% higher than other cities in the country, such as the capital city Beijing or Shanghai. The city also has the highest per capita GDP in the country today. Besides, the number of billionaires living in this city is also the 8th highest in the world.

The stock exchange market in Shenzhen was established in 1990, a year before the Shanghai Stock Exchange was built. Therefore, it was the first stock exchange in China. The city also houses Ping An International Financial Center, the second tallest building in the country and the fourth in the world.

Ping-An-International-Financial-Center — Ping An International Financial Center.

If the US has Silicon Valley with many big tech companies, China also has Shenzhen with many extremely popular firms like Tencent, ZTE, Huawei, drone manufacturer DJI, etc.

shenzhen-foxconn-factory — Foxconn factory is located in Shenzhen.

Seeking and calling for foreign investors has always been a major task of Shenzhen. However, they also create many opportunities for local talents to develop their capacities and business through monetary benefits. As a result, most young, capable and qualified workers are gathered here. They have many chances to develop their careers and contribute to boosting the country's economy.

The competition in the industry increased in the 80s when Europe, America, and Japan continuously released breakthrough inventions in the technology field. The various kinds of phones, color TVs and music players Walkmans were bought by so many people.

Technology companies around the world need to increase their production. And that's when preferential policies and subsidies, as well as the abundance of skilled workers, helped Shenzhen get noticed. Concentrated production in the city has brought huge profits to China.

A-color-TV-in-the-80s — A color TV in the 80s.

Huaqiangbei is an electronic market located in here. It offers all different kinds of electronic items with extremely cheap prices like motherboards, batteries, processors, etc. It is also considered the largest electronic market in the world. While you cannot go around here without understanding their language, the market provides all the things that a manufacturer, engineer, and developer need for their work.