This year marks the 40th anniversary of the Shenzhen Special Economic Zone. To mark the occasion, we are publishing a series of reports celebrating the city’s achievements in different aspects over the past four decades.
THE tax revenue of Shenzhen Special Economic Zone (SEZ) is 31,000 times the size of tax revenue collected the first year it was founded 40 years ago, according to a report of Shenzhen Special Zone Daily yesterday.
The contribution of its foreign trade to the country’s total also increased from 0.05 percent in 1979 to 7.77 percent in 2019. The city’s trade value has taken the leading place among major Chinese cities for 27 straight years.
In 2019, the business links of 52,000 export-oriented enterprises in Shenzhen had extended upstream of the industrial chain to cover 2.71 million enterprises in mainland cities. The procurement volume involved 2.2 trillion yuan (US$326 billion). Shenzhen is playing an increasingly leading role to connect the domestic market with the international market.
The radial power of Shenzhen enterprises has also increased as more outlets and subsidiaries are established in other cities.
Statistics show that Shenzhen has registered and funded 159,000 enterprises in 320 cities across the country by the end of 2019.
Shenzhen-based Sunwoda is a global leader in lithium-ion battery research, development and manufacturing.
“In three years, Sunwoda enjoyed 348 million yuan in tax reduction and exemption. The tax incentives improve the company’s competitiveness and its operation has expanded to Nanjing, Huizhou and Lanxi,” said Wang Wei, president of the company.
In July this year, Phase I of the company’s Nanjing project was delivered in anticipation to be used. The Nanjing project is budgeted at 12 billion yuan. It will serve the new energy vehicle industry in East China after the plant is put into operation.
Statistics show service companies in Shenzhen provided customs clearance, tax rebates and financial services to 3,000 upstream foreign trade companies in 2019, saving 20-30 percent production factor cost of foreign trade.