Is Shenzhen developed?

Today Shenzhen is classed as a megacity, with a population of over 10 million. After its growth and development over the past three decades, Shenzhen now faces the challenge of transitioning into a mature city and developing its identity, particularly in relation to its powerful neighbour, Hong Kong.

What problems are Shenzhen facing?

Solutions to Shenzhens Resource Shortages The rapid growth in Shenzhen means that demand often outstrips supply. As a result, many water challenges now plague the city. It has been estimated that Shenzhen will face water shortages of 690 and 890 million cubic metres by 2020 and 2030 respectively.

Is Shenzhen bigger than Hong Kong?

Crunch the numbers, and by the end of next year, Shenzhen will have an economy more than 25% bigger than Hong Kongs. Shenzhens population -- now 12.5 million -- is growing by around 2% annually as people flood into the city from the rest of China.

How has China become more developed?

Economists generally attribute much of Chinas rapid economic growth to two main factors: large-scale capital investment (financed by large domestic savings and foreign investment) and rapid productivity growth.

What is the population of Shenzhen 2020?

17.56 million The population in Shenzhen as of the end of 2020 was 17.56 million, ranking second in Guangdong after the capital city Guangzhou, which had a population of 18.68 million.

Is Shenzhen richer than Hong Kong?

Shenzhen is now a high-tech hub, the home of Chinese technology giants, including Huawei, Tencent, and DJI. Shenzhens GDP overtook Hong Kong, primarily due to the booming tech industry, in 2018.