The hammer used in Shenzhen's first auction of land-use rights

Shenzhen has attached much importance to the establishment of a venture investment system, expecting to employ more market-oriented financial means to support the development of high-tech enterprises. The High-Tech Industry Investment Service Co. was set up in Shenzhen as early as 1994. Last year, Shenzhen established two venture investment companies at home and abroad, in order to encourage local enterprises to enthusiastically introduce international venture capital.

In light of integrating introduction with self-development, Shenzhen has constantly increased its reserve of technology and talent, which is needed for the development of the high-tech industry. By cooperating with Tsinghua University, Peking University, Hong Kong Scientific and Technological University and Harbin Polytechnical University, the Shenzhen Tsinghua Research Institute, Shenzhen-Hong Kong Manufacturing, Teaching and Research Base and Shenzhen International Technological Innovation Institute have been established. Moreover, Shenzhen also has established a virtual university park in conjunction with 33 well-known Chinese and foreign universities.

Benefiting from a mass of high-tech enterprises, research and development centers and fruitful cooperation with famous universities and colleges, Shenzhen currently boasts a better comprehensive environment to attract high-tech investment projects and develop high-tech industries.

A modern metropolis

Foreigners in the Folk Culture Park (WU MING)

In the beginning, Shenzhen was designed as "a border city integrating the development of industry and agriculture, with emphasis on the former". In the mid-1980s, the General Program of the Shenzhen Special Economic Zone was created, drawing up the development blueprint and objectives and planning for the city between 1986 and 2000.

In 1995, the general program was ratified by the State Council after overall revision. The revised program clearly specified the functions and development objectives of the city, putting forward the plan to turn Shenzhen into a high-tech industrial base, a regional financial, information, trade, transportation center and a tourist resort. According to the ambitious development blueprint, Shenzhen will eventually become a modern international metropolis.

Yantian Port (WU MING)

Over the past 20 years Shenzhen's total investment in fixed assets approached 292.2 billion yuan, with more than 30 percent going to urban infrastructure construction. The last five years, in particular, have witnessed the most massive investment in fixed assets, which amounted to 204.5 billion yuan, or 66.8 percent of the total over the past 20 years. With total infrastructure construction input of 41.2 billion yuan over the past five years, Shenzhen comes first among major Chinese cities in investment density.

To date, Shenzhen has built up a complete urban infrastructure that can satisfy the basic needs of local socioeconomic development for the next 10 years. In the meantime, it has initially acquired the functions of a regional economic center. Last year, Shenzhen was awarded the Prize for City Planning by the 20th World Architects' Congress. It was the first Asian city to win the honor.

Children - Hope of Shenzhen's future (WU MING)

Shenzhen recently set the objective of leading the country in realizing socialist modernization and becoming a showcase of socialist cities with Chinese characteristics. Specifically, the city is expected to basically achieve modernization by 2005, reach the level of moderately developed nations by 2010 and catch up with the level of developed countries around 2030.

From an "experimental field" of reform and a "window" on opening-up to a forerunner of initially realizing modernization and a showcase of socialist cities with Chinese characteristics, Shenzhen is fulfilling its historic leap.