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112-518: 22°30′30″N 113°54′05″E  /  22.5083°N 113.9014°E  / 22.5083; 113.9014 This article related to a mountain or hill in China is a stub . You can help Misplaced Pages by expanding it . This Shenzhen -related article is a stub . You can help Misplaced Pages by expanding it . Shenzhen Shenzhen is a city in Guangdong , China. A special economic zone , it

224-410: A $ 10 billion credit line with China Development Bank to provide low-cost financing to customers buying its telecommunications equipment to support its sales outside of China. This line of credit was tripled to $ 30 billion in 2009. In 2005, Huawei's foreign contract orders exceeded its domestic sales for the first time. Huawei signed a global framework agreement with Vodafone . This agreement marked

336-563: A Research Fellow at the Swedish Institute of International Affairs, asked Huawei for a response to the Balding and Clarke paper; the "information provided by Huawei gives an indication of how difficult it is to run an independent company in such a crucial sector in China". After the publication of Balding and Clarke's paper, Huawei has "engaged in a PR blitz to manufacture an image of a transparent company". Academic Toshio Goto of

448-562: A consultant and lobbyist, with a goal of nurturing the company's relationship with the Biden administration . Huawei has also hired public relations firms Ruder Finn , Wavemaker , Racepoint Global, and Burson Cohn & Wolfe for various campaigns. In January 2024, Bloomberg News reported that Huawei ended its in-house lobbying operations in Washington, D.C. According to its CEO and founder Ren Zhengfei, Huawei's corporate culture

560-428: A domestic Chinese telecommunications company that could compete with, and ultimately replace, foreign competitors. During its first several years the company's business model consisted mainly of reselling private branch exchange (PBX) switches imported from Hong Kong. Meanwhile, it was reverse-engineering imported switches and investing heavily in research and development to manufacture its own technologies. By 1990

672-550: A genuine collective is doubtful." Huawei's position has shifted in 2019 when, Dr. Song Liuping, Huawei's chief legal officer, commented on the US government ban, said: "Politicians in the US are using the strength of an entire nation to come after a private company ." (emphasis added). Ren Zhengfei is the founder and CEO of Huawei and has the power to veto any decisions made by the board of directors. Huawei also has rotating co-CEOs. Huawei disclosed its list of board of directors for

784-648: A hack on Australia 's telecom networks was conducted by or through Huawei, although the two network operators have disputed that information. In January 2018, the United States alleged that its sanctions against Iran were violated by Huawei, which was subsequently restricted from doing business with American companies. The US government also requested the extradition of Huawei's chief financial officer from Canada. In June 2019, Huawei cut jobs at its Santa Clara research center, and in December Ren said it

896-413: A high urban population make Shenzhen a large port megacity . The logistics industry accounts for around 10.1 percent (178.27 billion RMB) of the city's nominal GDP in 2015, which was an increase of 9.4 percent. Shenzhen Port's first foreign trade blockchain cargo release platform was launched recently. Shenzhen had prioritized the cultural industry in according to the 13th Five-Year Plan, establishing

1008-647: A huge influx of refugees trying to escape to Hong Kong from the upheavals that were occurring in mainland China , and a range from 100,000 to 560,000 refugees resided in the county. In January 1978, a Central Inspection Team sent by the State Council investigated and established the issue of creating a foreign trade port in Bao'an County. In May, the investigation team wrote the "Hong Kong and Macao Economic Investigation Report" and proposed to turn Bao'an County and Zhuhai into commodity export bases. In August 1978,

1120-638: A meeting with General Secretary of the Chinese Communist Party Jiang Zemin , telling him that "switching equipment technology was related to national security, and that a nation that did not have its own switching equipment was like one that lacked its own military." Jiang reportedly agreed with this assessment. In the 1990s, Canadian telecom giant Nortel outsourced production of their entire product line to Huawei. They subsequently outsourced much of their product engineering to Huawei as well. Another major turning point for

1232-471: A population of 30,000. In May 1980 the Central Committee designated Shenzhen as the first SEZ in China, which was promoted by then- paramount leader Deng Xiaoping as part of China's reform and opening-up . Its objective is to be an experimental ground for the practice of market capitalism within a community guided by the ideals of socialism with Chinese characteristics . On 26 August,

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1344-402: A profit-sharing incentive scheme" that "has nothing to do with financing or control". They found that, after a few stages of historical morphing, employees do not own a part of Huawei through their shares. Instead, the "virtual stock is a contract right, not a property right; it gives the holder no voting power in either Huawei Tech or Huawei Holding, cannot be transferred, and is cancelled when

1456-691: A sub-provincial city, the National People's Congress (NPC) in 1981 granted legislative powers to Shenzhen and other Special Economic Zones, giving the city the privilege to make its own laws and regulations. The Standing Committee of the NPC also granted Shenzhen voted and passed the "Decision on Authorizing the Shenzhen Municipal People's Congress and its Standing Committee and the Shenzhen Municipal People's Government to respectively formulate laws and regulations for implementation in

1568-409: A wide range of telecom software. In May 2003, Huawei partnered with 3Com on a joint venture known as H3C, which was focused on enterprise networking equipment. It marked 3Com's re-entrance into the high-end core routers and switch market, after having abandoned it in 2000 to focus on other businesses. 3Com bought out Huawei's share of the venture in 2006 for US$ 882 million. In 2004, Huawei signed

1680-465: Is Zhou Daiqi who is also Huawei's Chinese Communist Party Committee Secretary . Their chief legal officer is Song Liuping. At its founding in 1987, Huawei was established as a collectively-owned enterprise. Collectively-owned enterprises were an intermediary corporate ownership status between state-owned enterprises and private businesses. The Chinese government began issuing licenses for private businesses starting in 1992. Huawei states it

1792-676: Is a private company owned collectively by its employees and is neither owned nor controlled directly by the Chinese government. Academics Steve Tsang and Olivia Cheung write that Huawei is a private company. Likewise, academics Simon Curtis and Ian Klaus write that Huawei is not state-owned, but is a private company which the Chinese government views as a national champion. In 2021, Huawei did not report its ultimate beneficial ownership in Europe as required by European anti- money laundering laws. In July 2021, Huawei hired Tony Podesta as

1904-422: Is an employee-owned company , but this remains a point of dispute. Ren Zhengfei retains approximately 1 percent of the shares of Huawei's holding company, Huawei Investment & Holding, with the remainder of the shares held by a trade union committee (not a trade union per se, and the internal governance procedures of this committee, its members, its leaders or how they are selected all remain undisclosed to

2016-670: Is considered the paradigmatic example of the 1980s approach to urbanization. In December 1990, under the authority of the China Securities Regulatory Commission , the Shenzhen Stock Exchange was established to provide a platform for centralized securities trading. In February 1992, the Standing Committee of the NPC granted the government of Shenzhen the power to make local laws and regulations. In 1996 and early 1997,

2128-423: Is dry. The annual precipitation averages at around 1,933 mm (76 in), some of which is delivered in typhoons that strike from the east during summer and early autumn. Extreme temperatures have ranged from 0.2 °C (32 °F) on 11 February 1957 to 38.7 °C (102 °F) on 10 July 1980. Like all governing institutions in mainland China , Shenzhen has a parallel party-government system, in which

2240-516: Is located on the east bank of the Pearl River estuary on the central coast of Guangdong, bordering Hong Kong to the south, Dongguan to the north, Huizhou to the northeast, and Macau to the southwest. With a population of 17.5 million in 2020, Shenzhen is the third most populous city by urban population in China after Shanghai and Beijing . The Port of Shenzhen is the world's fourth busiest container port . Shenzhen roughly follows

2352-704: Is now Dongguan city, although a military garrison remained. During the Song dynasty , Nantou and the surrounding area became an important trade hub for salt and spices in the South China Sea . The area then became known for producing pearls during the Yuan dynasty . In the early Ming era, Chinese sailors of a fleet would go to a Mazu temple in Chiwan (in present-day Nanshan District ) to pray as they go to Nanyang ( Southeast Asia ). The Battle of Tunmen , when

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2464-506: Is now installed on over 900 million devices and has become the second most popular mobile OS in China. Huawei classifies itself as a " collective " entity and prior to 2019 did not refer to itself as a private company. Richard McGregor , author of The Party: The Secret World of China's Communist Rulers , said that this is "a definitional distinction that has been essential to the company's receipt of state support at crucial points in its development". McGregor argued that "Huawei's status as

2576-653: Is part of the 21st Century Maritime Silk Road that runs from the Chinese coast south to the tip of India via the Suez Canal to the Mediterranean, there to the Upper Adriatic region to the northern Italian hub of Trieste with its rail connections to Central Europe and the North Sea . As of August 2023, Shenzhen has the seventh-most Fortune Global 500 headquarters of any city in the world and

2688-838: Is set against the backdrop of the classic novel, Journey to the West . Huawei Huawei Technologies Co., Ltd. ("Huawei" sometimes stylized as " HUAWEI ") ( / ˈ hw ɑː w eɪ / HWAH -way , / ˈ w ɑː w eɪ / WAH -way ; Chinese : 华为 ; pinyin : Huáwéi ) is a Chinese multinational conglomerate technology corporation headquartered in Longgang District , Shenzhen , Guangdong province . It designs, develops, manufactures and sells digital telecommunications equipment , consumer electronics , smart devices , distributed operating systems , electric vehicle autonomous driving systems , and various rooftop solar products. The corporation

2800-449: Is the same as the culture of the CCP, "and to serve the people wholeheartedly means to be customer-centric and responsible to society." Ren frequently states that Huawei's management philosophy and strategy are commercial applications of Maoism . Ren states that in the event of a conflict between Huawei's business interests and the CCP's interests, he would "choose the CCP whose interest

2912-564: The 2011 Summer Universiade and the China Hi-Tech Fair. A large portion of Shenzhen's population are migrants from all over China, and the city's population structure skews younger than most places in China. The earliest known recorded mention of the name chen could date from 1410, during the Ming dynasty . Locals call the drains in paddy fields "Zhen" ( Chinese : 圳 ; lit. 'ditch', 'drain'). Shenzhen

3024-683: The 26th Universiade , an international multi-sport event organized for university athletes. In April 2015, the Shekou Industrial Zone and the Qianhai Zone were integrated within the newly established Guangdong Free-Trade Zone . On 18 August 2019 the central government in Beijing unveiled reform plans covering economic, social, and political sectors of Shenzhen, labeling Shenzhen a pilot demonstration zone for socialism with Chinese characteristics. Shenzhen roughly follows

3136-674: The CCP Committee Secretary , officially termed the Chinese Communist Party Shenzhen Municipal Committee Secretary, outranks the Mayor. The CCP committee acts as the top policy-formulation body, and is typically composed of 12 members (including the secretary). Despite being a sub-provincial city , Shenzhen as a SEZ still wields a lot of autonomy from the central government. In addition to being promoted to

3248-560: The Eastern Jin administration split up Nanhai and established a new Dongguan Commandery  [ zh ] (东官郡). The seat of both the commandery and Bao'an County, one of its six counties, was located around the modern town of Nantou. In 590, the Sui administration merged the region back into Nanhai. In 757, the Tang administration renamed the county Dongguan, and moved its seat to what

3360-750: The Huiyang District Committee reported to the Provincial Committee on the "Report on the Request for the Change of Bao'an County to Shenzhen". On 18 October, the Standing Committee of the Guangdong Provincial Party Committee decided to change Bao'an County into Bao'an City and to turn it into a medium-level prefecture-level city with a foreign trade base. The Huiyang District Committee and

3472-597: The Japan University of Economics has disagreed with Balding and Clarke's assessment of Huawei employee shareholders’ ownership. Goto writes that the Huawei's ownership structure is a function of its formation amid the Chinese reforms, with the only mechanism for concentrating employee ownership under Shenzen's 1997 Provisions on State-owned Company Employee Stock Option Plans being to do so via Huawei's trade union. In contrast to Balding and Clarke, Goto writes that

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3584-750: The Lo Wu Bridge in Shenzhen, though this was detonated by the British, preventing the Japanese from entering Hong Kong. In 1953, four years after the founding of the People's Republic of China , the Bao'an County government decided to move to Shenzhen, since the town was closer to the KCR and had a larger economy than Nantou. From the 1950s to the end of the 1970s, Shenzhen and the rest of Bao'an County oversaw

3696-566: The Middle East . It has become the most important Chinese telecommunications company operating in these regions. In 1997, Huawei won a contract to provide fixed-line network products to Hong Kong company Hutchison Whampoa . Later that year, Huawei launched wireless GSM -based products and eventually expanded to offer CDMA and UMTS . In 1999, the company opened a research and development (R&D) centre in Bengaluru , India to develop

3808-478: The Pearl River Delta , bordering Hong Kong to the south, Huizhou to the north and northeast, Dongguan to the north and northwest. Lingdingyang and Pearl River to the west and Mirs Bay to the east and roughly 100 kilometres (62 mi) southeast of the provincial capital of Guangzhou . As of the end of 2017, the resident population of Shenzhen was 12,528,300, of which the registered population

3920-631: The Shenzhen Guesthouse Hotel in Shenzhen was home to the Provisional Legislative Council and Provisional Executive Council of Hong Kong in preparation for the handover of Hong Kong in 1997. By 2001, as a result of Shenzhen's increasing economic prospects, increasing numbers of migrants from mainland China chose to go to Shenzhen and stay there instead of trying to illegally cross into Hong Kong. There were 9,000 captured border-crossers in 2000, while

4032-632: The Standing Committee of the National People's Congress (NPC) approved the "Regulations of the Guangdong Special Economic Zone." In March 1981 Shenzhen was promoted to a sub-provincial division . There were plans for Shenzhen to develop its currency, but the plans were shelved due to the risk and the disagreement that a country should not be operating with two currencies. To enforce law and order in

4144-700: The United States . The company has faced difficulties in some countries arising from concerns that its equipment may enable surveillance by the Chinese government due to perceived connections with the country's military and intelligence agencies. Huawei has argued that critics such as the US government have not shown evidence of espionage . Experts say that China's 2014 Counter-Espionage Law and 2017 National Intelligence Law can compel Huawei and other companies to cooperate with state intelligence. In 2012, Australian and US intelligence agencies concluded that

4256-781: The Yantian International Container Terminals , the Chiwan Container Terminals, the container terminals of the Shekou Industrial Zone , the China Merchants Port , and Shenzhen Haixing . The Port of Shenzhen is therefore capable of handled a record volume of containerization . With rising trade increased cargo shipments in 2005, the container port was ranked as the world's fourth-busiest container port . High port traffic levels combined with

4368-553: The death penalty with a two-year reprieve for accepting bribes up to US$ 5.4 million. Shenzhen has direct jurisdiction over nine administrative Districts and one New District : Shenzhen was originally Bao'an County . On 5 March 1979, the State Council of the People's Republic of China dissolved the county and set up the city of Shenzhen in its place initially with six districts: Luohu ( 罗湖 ), Nantou ( 南头 ), Songgang ( 松岗 ), Longhua ( 龙华 ), Longgang ( 龙岗 ), and Kuiyong ( 葵涌 ), with

4480-558: The "Regulations on Vigorously Developing Foreign Trade to Increase Foreign Exchange Income" and agreed to pilot the first special economic zones (SEZ) in Shenzhen, Zhuhai, Shantou, and Xiamen . In November, Shenzhen was elevated to the status of prefecture-level city at the regional level by the Guangdong provincial administration. Hundreds of small villages nearby, such as Yumin Cun, were incorporated into Shenzhen. In 1980, Shenzhen had

4592-407: The 1980s, the Chinese government endeavored to overhaul the nation's underdeveloped telecommunications infrastructure. A core component of the telecommunications network was telephone exchange switches, and in the late 1980s, several Chinese research groups endeavored to acquire and develop the technology, usually through joint ventures with foreign companies. Ren Zhengfei, a former deputy director of

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4704-444: The 2021 third quarter. Linghao Bao, an analyst at policy research firm Trivium China said the "communications giant went from being the second-largest smartphone maker in the world, after Samsung, to essentially dead." By the end of third quarter in 2022, Huawei revenue had dropped a further 19.7% since the beginning of the year. Yet, for the seventh consecutive year, Huawei remained the top patent applicant for patents filled under

4816-449: The Bao'an County Committee, however, defended the change to rename Bao'an County to Shenzhen, claiming that people in the world know more about Shenzhen and its port than they know about Bao'an County. On 23 January 1979, the Guangdong provincial administration and the district of Huiyang announced their proposal to rename Bao'an County to Shenzhen and was approved and put into effect by the State Council on March 5 of that year. Also,

4928-551: The China International High-tech Achievements Fair, which showcases high-tech products and provides for dialogue and investment for high-tech. As a result, Shenzhen is dubbed by media outlets as "China's Silicon Valley " or the "Silicon Valley of Hardware" for the world. Shenzhen is home to a number of large financial institutions, such as China Merchants Bank and Ping An Insurance and its subsidiary Ping An Bank . Since

5040-574: The Chinese University of Politics and Law also rejects the argument that Huawei is a state-owned enterprise controlled by a labor union, writing that normative practices and legal requirements distinguish between the shareholding vehicle of union-held employee assets and assets belonging to the union itself. Academics Kunyuan Qiao of Cornell University and Christopher Marquis of the University of Cambridge likewise conclude that Huawei

5152-408: The Chinese government had a vested interest in fostering a company to compete against Apple and Samsung. Ren sought to reverse engineer foreign technologies with local researchers. China borrowed liberally from Qualcomm and other industry leaders (PBX as an example) in order to enter the market. At a time when all of China's telecommunications technology was imported from abroad, Ren hoped to build

5264-629: The Guangzhou People's Intermediate Court charged former Shenzhen Deputy Mayor Wang Ju with bribery and abuse of power and sentenced him to 20 years in prison. In June 2005, the Shenzhen People's Intermediate Court charged sentenced Luohu District Public Security Director An Huijun to 15 years in prison for accepting bribes. In May 2011, the Zhengzhou Intermediate Court sentenced former mayor Xu Zongheng to

5376-427: The Huawei's virtual shares are substantially equivalent to voting stock, and that nominal ownership through the trade union does not change the legal and financial independence of employee ownership from the union itself. Goto concludes that the firm is effectively owned by employees and therefore it is not effectively state-owned. In analyzing Huawei's corporate governance and ownership structure, Academic Wang Jun of

5488-473: The Ming won a naval battle against invading Portuguese , was fought south of Nantou. To prevent a rebellion from Ming loyalists under Zheng Chenggong , better known as Koxinga, on the Chinese coast, the recently established Qing administration resettled coastal residents inland and re-organized coastal counties. As a result, Bao'an County lost two-thirds of its territory to the neighboring Dongguan and

5600-528: The PCT, with 6494 published applications in 2023. By mid-2024, the company had recovered after a brief decline in turnover and profit and continued its expansion. Most foreign parts in the supply chain were successfully replaced by domestic products in a relatively short period of time. In the first quarter of 2024, the company's profits increased nearly six-fold compared to the previous year to just under US$ 2.7 billion. On 21 June 2024, Huawei announced that HarmonyOS

5712-532: The People's Liberation Army engineering corps, founded Huawei in 1987 in Shenzhen. The company reports that it had RMB 21,000 (about $ 5,000 at the time) in registered capital from Ren Zhengfei and five other investors at the time of its founding where each contributed RMB 3,500. These five initial investors gradually withdrew their investments in Huawei. The Wall Street Journal has suggested, however, that Huawei received approximately "$ 46 billion in loans and other support, coupled with $ 25 billion in tax cuts" since

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5824-783: The Shenzhen Fashion Creative Industry Association (深圳市时尚文化创意协会) and planning the 4.6 square-kilometer Dalang Fashion Valley (大浪时尚创意城). On 7 December 2008, UNESCO approved Shenzhen's entrance into the Creative Cities Network , and awarded the Shenzhen the title of "United Nations Design Capital." Altogether, the cultural industry in turn contributes to 5.8 percent (102.116 billion RMB) of Shenzhen's economy in 2015. Shenzhen-based video game developer Game Science released Black Myth: Wukong , which achieved significant commercial success on its August 20, 2024 release. The game

5936-551: The Shenzhen Special Economic Zone" in order to give fully strengthen Shenzhen's legislative powers without interference from the central government. There were several cases of high-ranking Shenzhen officials that were arrested on charges relating to corruption. In December 2002, the Shenzhen People's Intermediate Court sentenced Zhao Yucun, former Commissioner of Shenzhen Customs, to life imprisonment for taking bribes of 9 million RMB . In November 2003,

6048-528: The State Council dissolved the "second line," and expanded the Shenzhen SEZ to include all districts, a five-fold increase over its pre-expansion size. On 26 August 2010, on the 30th anniversary of the establishment of the Shenzhen SEZ, the State Council approved the "Overall Development Plan for Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone." In August 2011, the city hosted

6160-484: The State Council, Shenzhen re-organized Longhua New District as Longhua District and Pingshan New District as Pingshan District on 11 October 2016 and Guangming New District as Guangming District on 24 May 2018, therefore becoming their own jurisdictions. Shenzhen was the first of the Special Economic Zones (SEZ) to be established by then paramount leader Deng Xiaoping . Back to Apr 1979, Shenzhen

6272-536: The United Kingdom, and leased the New Territories from Xin'an to the United Kingdom for 99 years. Xin'an was briefly occupied by a British force under the command of Henry Arthur Blake , the governor of Hong Kong , for half a year in 1899. From the 3,076 square kilometres (1,188 sq mi) of territory that Xin'an held before the treaties, 1,055.61 square kilometres (407.57 sq mi) of

6384-461: The administrative boundaries of Bao'an County , which was established in imperial times. After the Opium Wars , the southern portion of Bao'an County was occupied by the British government and became part of British Hong Kong , while the village of Shenzhen was next to the border. Shenzhen turned into a city in 1979. In the early 1980s, economic reforms introduced by Deng Xiaoping resulted in

6496-471: The administrative boundaries of the historical Bao'an County . The southern portion of Bao'an County became part of British Hong Kong after the Opium Wars , while the village of Shenzhen was on the border. Shenzhen railway station was the last stop on the mainland Chinese section of the Kowloon–Canton Railway , and Shenzhen's economy grew and it became a city by 1979. Shenzhen is located within

6608-593: The area that is now Shenzhen over 600 years ago. The Hakka people also have a history in Shenzhen since 300 years ago when they first immigrated. In 214 BC, when Emperor Qin Shi Huang unified China under the Qin dynasty , the area was submitted to the jurisdiction of the established Nanhai Commandery , one of the three commanderies that were set up in Lingnan , and was assimilated into Zhongyuan culture. In 331 AD,

6720-415: The city becoming the first special economic zone of China due to its close proximity to Hong Kong, attracting foreign direct investment and migrants searching for opportunities. In thirty years, the city's economy and population boomed and has since emerged as a hub for technology, international trade, and finance. Shenzhen is the home to the Shenzhen Stock Exchange , one of the largest stock exchanges in

6832-619: The city limits with a total capacity of 525 million tonnes. Notable rivers in Shenzhen include the Shenzhen River , Maozhou River and Longgang River. Although Shenzhen is situated about a degree south of the Tropic of Cancer , due to the Siberian anticyclone it has a warm, monsoon -influenced, humid subtropical climate ( Köppen Cwa ) though it is fairly close to a Tropical one. Winters are mild and relatively dry, due in part to

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6944-707: The city merged Shekou Management Area and Nantou Management Area to form the Nanshan District , renamed Shangbu Management Area to the Futian District , and merged Luohu Management Area and Shatoujiao Management Area to form the Luohu District . In December 1992, Bao'an County was dissolved again, with its area taken by Shenzhen and split into two new districts: Bao'an District and Longgang District , though economic privileges within special economics zones did not pertain to them as they were outside

7056-484: The city receives 1,853 hours of bright sunshine annually. The monsoon reaches its peak intensity in the summer months, when the city also experiences very humid and hot conditions. Despite this, extreme heat is rare, there are only 2.4 days of 35 °C (95 °F)+ temperatures. The region is prone to torrential rain as well, with 9.7 days that have 50 mm (1.97 in) or more of rain, and 2.2 days of at least 100 mm (3.94 in). The latter portion of autumn

7168-455: The city would establish six districts: Luohu , Nantou, Songgang, Longhua , Longgang and Kuiyong. On 31 January 1979, the Central Committee of the Communist Party approved a plan to establish the Shekou Industrial Zone in Shenzhen with the purpose "to lead domestic, overseas, and diversified operations, industrial and commercial integration, and trading" based on the systems of that of Hong Kong and Macau . The Shekou Industrial Zone project

7280-619: The city's establishment as a SEZ, a number of foreign banks had established offices in the city, including Citibank , HSBC , Standard Chartered , and Bank of East Asia . In total, the financial industry accounts for 14.5% of the city's nominal GDP in 2015 (254.282 billion RMB), which was a 15.9% increase over the previous year. By the end of 2016, the total assets of the financial industry amounted to 12.7 trillion RMB (banking industry assets were 7.85 trillion RMB, security companies assets were 1.25 trillion RMB, and insurance industry assets were 3.6 trillion RMB), making Shenzhen's financial industry

7392-440: The city, the Shenzhen government erected a border known as the second line ( Chinese : 二线关 ), which consisted of barbed wire and checkpoints between the city and the rest of China. Initially, the border control was relatively strict, requiring non-Shenzhen citizens to obtain special permissions for entering. Over the years, border controls have gradually weakened, and permission requirement has been abandoned. In January 1990,

7504-496: The city, the Shenzhen government erected barbed wire and checkpoints between the land borders of the main sections of the SEZ and the SEZ outskirts, as well as the rest of China, in 1983, which was known as the second line border. Much of Shenzhen's urban development in the 1980s focused in the area around the old border crossing and the market town. According to academic Richard Hu, whose research focuses on urbanization , in official discourses on urbanization in China , Shenzhen

7616-428: The company came in 1996 when the government in Beijing adopted an explicit policy of supporting domestic telecommunications manufacturers and restricting access to foreign competitors. Huawei was promoted by both the government and the military as a national champion, and established new research and development offices. Beginning in the late 1990s, Huawei built communications networks throughout sub-Saharan Africa and

7728-434: The company founder Ren Zhengfei , the name Huawei comes from a slogan he saw on a wall, Zhonghua youwei meaning "China has achievements" ( 中华有为 ; Zhōng huá yǒu wéi ), when he was starting up the company and needed a name. Zhonghua or Hua means China, while youwei means "promising/to show achievements". Huawei has also been translated as "splendid achievement" or "China's legacy", which are possible readings of

7840-578: The company had approximately 600 R&D staff and began its own independent commercialization of PBX switches targeting hotels and small enterprises. In order to grow despite difficult competition from Alcatel , Lucent, and Nortel Networks , in 1992 Huawei focused on low-income and difficult to access market niches. Huawei's sales force traveled from village to village in underdeveloped regions, gradually moving into more developed areas. The company's first major breakthrough came in 1993 when it launched its C&C08 program controlled telephone switch. It

7952-585: The company, which compensates them for their holding. Although employee shareholders receive dividends, their shares do not entitle them to any direct influence in management decisions, but enables them to vote for members of the 115-person Representatives' Commission from a pre-selected list of candidates. The Representatives' Commission selects Huawei Holding's board of directors and Board of Supervisors. Academics Christopher Balding of Fulbright University and Donald C. Clarke of George Washington University have described Huawei's virtual stock program as "purely

8064-470: The county was ceded to the British. In response to the Wuchang Uprising in 1911, Xin'an residents rebelled against the local Qing administration and successfully overthrew them. In the same year the Chinese section of the Kowloon–Canton Railway (KCR) was opened to the public. The last stop on the Chinese side was Shenzhen railway station , helping the town's economy and opened Shenzhen up to

8176-410: The economic output of Shenzhen the third largest out of Chinese cities, trailing behind Shanghai and Beijing . In addition, Shenzhen's GDP growth between 2016 and 2017 of 8.8% surpassed that of Hong Kong and Singapore , with 3.7% and 2.5% respectively. With a market capitalization of US$ 2.5 trillion as of 30 November 2018, the Shenzhen Stock Exchange (SZSE) is the 8th largest exchange in

8288-409: The employee leaves the firm, subject to a redemption payment from Huawei Holding TUC at a low fixed price". Balding and Clarke add, "given the public nature of trade unions in China, if the ownership stake of the trade union committee is genuine, and if the trade union and its committee function as trade unions generally function in China, then Huawei may be deemed effectively state-owned." Tim Rühlig,

8400-605: The existing unused border structures have been demolished and are being transformed into urban greenspaces and parks. On 15 January 2018, the State Council approved the removal of the barbed wire fence set up to mark the boundary of the SEZ. In early 2011, the provincial government of Guangdong approved the establishment of the Shenzhen-Shantou Special Cooperation Zone in the city and SEZ of Shantou , Guangdong that will last until 2040 with

8512-472: The extent of state influence on Huawei have revolved around its national champions role in China, subsidies and financing support from state entities, and reactions of the Chinese government in light of opposition in certain countries to Huawei's participation in 5G . Its software and equipment have been linked to the mass surveillance of Uyghurs and Xinjiang internment camps , drawing sanctions from

8624-467: The fifth-highest number of billionaires of any city in the world. Shenzhen's nominal GDP is projected to be among the world top 10 largest cities in 2035 (together with Beijing , Shanghai and Guangzhou in China) according to a study by Oxford Economics and its nominal GDP per capita will reach above US$ 57,000 (ranking first in mainland China) in 2030, which is comparable to Tokyo and Seoul. Shenzhen

8736-471: The first time a telecommunications equipment supplier from China had received Approved Supplier status from Vodafone Global Supply Chain. In 2007, Huawei began a joint venture with US security software vendor Symantec Corporation , known as Huawei Symantec , which aimed to provide end-to-end solutions for network data storage and security. Huawei bought out Symantec's share in the venture in 2012, with The New York Times noting that Symantec had fears that

8848-549: The first time in 2010. Liang Hua is the current chair of the board. As of 2019 , the members of the board are Liang Hua, Guo Ping, Xu Zhijun, Hu Houkun, Meng Wanzhou ( CFO and deputy chairwoman), Ding Yun, Yu Chengdong, Wang Tao, Xu Wenwei, Shen-Han Chiu, Chen Lifang, Peng Zhongyang, He Tingbo, Li Yingtao, Ren Zhengfei, Yao Fuhai, Tao Jingwen, and Yan Lida. Guo Ping is the Chairman of Huawei Device, Huawei's mobile phone division. Huawei's Chief Ethics & Compliance Officer

8960-641: The influence of the South China Sea , and frost is very rare; it begins dry but becomes progressively more humid and overcast. However, fog is most frequent in winter and spring, with 106 days per year reporting some fog. Early spring is the cloudiest time of year, and rainfall begins to dramatically increase in April; the rainy season lasts until late September to early October. With monthly percent possible sunshine ranging from 27 percent in March to 53 percent in October,

9072-476: The largest telecommunications equipment manufacturer in the world. Huawei surpassed Apple and Samsung , in 2018 and 2020, respectively, to become the largest smartphone manufacturer worldwide. As of 2024, Huawei's biggest area of business is in telecommunications equipment. Its largest customer is the Chinese government. Amidst its rise, Huawei has been accused of intellectual property infringement , for which it has settled with Cisco . Questions regarding

9184-562: The mainland Chinese section of the Kowloon–Canton Railway . The city is a leading global technology hub. In the media Shenzhen is sometimes called China's Silicon Valley . The city's entrepreneurial, innovative, and competitive-based culture has resulted in the city being home to numerous small manufacturers and software companies. Several of these firms have become large technology corporations, such as Huawei , Tencent , and DJI . As an important international city, Shenzhen hosts numerous national and international events every year, such as

9296-475: The name in English out of concern that non-Chinese people may find it hard to pronounce, but decided to keep the name, and launched a brand recognition campaign instead to encourage a pronunciation closer to "Wah-Way" using the words "Wow Way". Ren states, "We will not change the name of our brand and will teach foreigners how to pronounce it. We have to make sure they do not pronounce it like 'Hawaii.'" In

9408-637: The name. In Chinese pinyin , the name is Huáwéi , and pronounced [xwǎwěɪ] in Mandarin Chinese ; in Cantonese , the name is transliterated with Jyutping as Waa -wai and pronounced [wa˩wɐj˩] . However, the pronunciation of Huawei by non-Chinese varies in other countries, for example "Hoe-ah-wei" in Belgium and the Netherlands. The company had considered changing

9520-541: The partnership "would prevent it from obtaining United States government classified information about cyber threats". In May 2008, Australian carrier Optus announced that it would establish a technology research facility with Huawei in Sydney . In October 2008, Huawei reached an agreement to contribute to a new GSM-based HSPA+ network being deployed jointly by Canadian carriers Bell Mobility and Telus Mobility , joined by Nokia Siemens Networks . Huawei delivered one of

9632-709: The public) that is claimed to be representative of Huawei's employee shareholders. The company's trade union committee is registered with and pays dues to the Shenzhen federation of the All-China Federation of Trade Unions , which is controlled by the Chinese Communist Party . About half of Huawei staff participate in this structure (foreign employees are not eligible), and hold what the company calls "virtual restricted shares". These shares are non-tradable and are allocated to reward performance. When employees leave Huawei, their shares revert to

9744-410: The purpose of economic development. The zone would be managed by Shenzhen and another Cantonese city, Shanwei . The zone is under the jurisdiction of Shenzhen instead of Shantou, with residents living there considered to be permanent residents of Shenzhen. The Shenzhen government later established two new districts on 27 October 2011, Longhua New District and Dapeng New District . With approval of

9856-521: The same figure was 16,000 in 1991. Around the same time, Shenzhen hosted the second Senior Officials' Meeting of APEC China 2001 on 26 May 2001 in its southern manufacturing center and port. In May 2008, the State Council approved the Shenzhen SEZ to promote Shenzhen's administrative management system, economic system, social field, independent innovation system and mechanism, system and mechanism for opening up and regional cooperation, and resource conservation and environmental friendliness. On 1 July 2010

9968-486: The seat based in Luohu. In October 1981, Bao'an County was re-established, with its region now based outside Shenzhen. In June 1983, the districts were dissolved and re-established instead as five management areas ( 管理区 ): Shekou ( 蛇口 ; south-west Shenzhen), Nantou ( 南头 ; west Shenzhen), Shangbu ( 上步 ; central Shenzhen), Luohu ( 罗湖 ; east-central Shenzhen), and Shatoujiao ( 沙头角 ; far-east Shenzhen). To enforce law and order in

10080-568: The second line border are referred to as guannei ( 关内 ; 'within the border') while districts that are outside the second line and do not have special economic privileges such as Bao'an and Longgang are referred to as guanwai ( 关外 ; 'outside the border'). The Shenzhen government later established two new districts as part of the guanwai : Guangming New District in August 2007 and Pingshan New District in June 2009. On 1 July 2010,

10192-459: The second line border was dissolved, and the Shenzhen SEZ was expanded to cover the entire city. Therefore, the four guanwai districts Bao'an District, Longgang District, Guangming New District, and Pingshan New District, would be given special economic privileges like the guannei districts. The area of the Shenzhen SEZ also increased from 396 square kilometres (153 sq mi) to 1,953 square kilometres (754 sq mi). Since June 2015,

10304-625: The second line border. At this point, Shenzhen has five districts: Luohu, Futian, Nanshan, Bao'an, and Longgang. In March 1998, Shenzhen's government created the Yantian District from the eastern portions of the Luohu District (the original area of the Shatoujiao Management District), and within the second line border. Yantian, Luohu, Futian, and Nanshan together as the special economic districts within

10416-564: The second quarter of 2020, Huawei had become the world's top smartphone seller, overtaking Samsung for the first time. In 2021, Huawei was ranked the second-largest R&D investor in the world by the EU Joint Research Centre (JRC) in its EU Industrial R&D Investment Scoreboard and ranked fifth in the world in US patents according to a report by Fairview Research's IFI Claims Patent Services. However, heavy international sanctions saw Huawei's revenues drop by 32% in

10528-514: The strike committee to create a blockade around Hong Kong. In 1931 Chen Jitang and his family established several casinos in Shenzhen, the largest of which being Shumchun Casino. During World War II , the Japanese occupied Shenzhen and Nantou , forcing the Bao'an County government to relocate to the neighboring Dongguan County. In 1941, the Japanese army tried to cross into Hong Kong through

10640-439: The third largest in China. Shenzhen is one of the world's top ten financial centers as of 2019, jumping five places to ninth place as determined by "variety of areas of competitiveness, including business environment, human capital, infrastructure, financial sector development and reputation." SF Express and China International Marine Containers (CIMC) have their headquarters in Shenzhen. The Port of Shenzhen comprises

10752-424: The third-most in China after (Beijing and Shanghai) within its city limits. Shenzhen's industry is described by its Municipal Bureau of Statistics to be upheld by its four-pillar industries: high tech , finance , logistics , and culture . Shenzhen is a large hub of the Chinese and global technology industry and home to a large startup ecosystem. As of 2020 the city was ranked as the 4th Fintech powerhouse in

10864-582: The world by market capitalization and the Guangdong Free-Trade Zone . Shenzhen is ranked as an Alpha- ( global first-tier ) city by the Globalization and World Cities Research Network . Its nominal GDP has surpassed those of its neighboring cities of Guangzhou and Hong Kong and is now among those of the cities with the ten largest economies in the world. Shenzhen also has the eighth most competitive and largest financial center in

10976-561: The world's first LTE /EPC commercial networks for TeliaSonera in Oslo, Norway in 2009. Norway-based telecommunications Telenor instead selected Ericsson due to security concerns with Huawei. In July 2010, Huawei was included in the Global Fortune 500 2010 list published by the US magazine Fortune for the first time, on the strength of annual sales of US$ 21.8 billion and net profit of US$ 2.67 billion. In October 2012, it

11088-851: The world's five largest cloud players in the near future. In 2017, Huawei and the government of Malaysia began cooperating to develop public security programs and Malaysian Smart City programs, as well as a related lab in Kuala Lumpur . In April 2019, Huawei established the Huawei Malaysia Global Training Centre (MGTC) at Cyberjaya , Malaysia . Huawei has had a major role in building, by 2019, approximately 70% of Africa's 4G networks. In November 2020, Telus Mobility dropped Huawei in favor of Samsung, Ericsson, and Nokia for their 5G/ Radio Access Network By 2018, Huawei had sold 200 million smartphones. In 2019, Huawei reported revenue of US$ 122 billion. By

11200-406: The world, the seventh-most Fortune Global 500 headquarters, fifth-highest number of billionaires , the second largest number of skyscrapers , the 19th largest scientific research output , and several higher education institutions , including Shenzhen University , Southern University of Science and Technology , and Shenzhen Technology University . Shenzhen railway station was the last stop on

11312-475: The world. In the 2021 Global Financial Centres Index , Shenzhen was ranked as having the 8th most competitive and largest financial center in the world and 6th in Asia & Oceania region (after Shanghai, Hong Kong, Singapore, Beijing, and Tokyo). As of 2020, Shenzhen is ranked as an Alpha- ( global first-tier ) city by the Globalization and World Cities Research Network . According to Forbes , Shenzhen has

11424-636: The world. In 1913, the Republic of China administration renamed Xin'an County back to Bao'an County to prevent confusion from another county of the same name in Henan Province. During the Canton–Hong Kong strike , the All-China Federation of Trade Unions set up a reception station for strike workers in Hong Kong in Shenzhen. Strike workers were also given pickets and armored vehicles by

11536-525: The world. Shenzhen is primarily known for its high-tech industry, which has a value of 585.491 billion RMB (US$ 82.9 billion) in 2015, a 13 percent increase compared to last year. Out of the nominal GDP of 1,750.299 billion RMB in 2015 the high-tech industry generated 33.4 percent. Shenzhen is home to a number of prominent tech firms, such as Huawei , Tencent , DJI , and ZTE . Other tech firms include personal computer manufacturer Hasee , Hytera , OnePlus , and BYD Company . Shenzhen annually holds

11648-493: Was 4,472,200, the actual administrative population was over 20 million. It makes up part of the Pearl River Delta built-up area with 44,738,513 inhabitants, spread over 9 municipalities (including Macau ). The city is elongated measuring 81.4 kilometers from east to west while the shortest section from north to south is 10.8 kilometers. Over 160 rivers or channels flow through Shenzhen. There are 24 reservoirs within

11760-709: Was announced that Huawei would move its UK headquarters to Green Park , Reading, Berkshire . Huawei also has expanding operations in Ireland since 2016. As well as a headquarters in Dublin , it has facilities in Cork and Westmeath. In September 2017, Huawei created a Narrowband IoT city-aware network using a "one network, one platform, N applications" construction model utilizing Internet of things (IoT), cloud computing , big data , and other next-generation information and communications technology , it also aims to be one of

11872-526: Was by far the most powerful switch available in China at the time. By initially deploying in small cities and rural areas and placing emphasis on service and customizability, the company gained market share and made its way into the mainstream market. Huawei also won a key contract to build the first national telecommunications network for the People's Liberation Army, a deal one employee described as "small in terms of our overall business, but large in terms of our relationships". In 1994, founder Ren Zhengfei had

11984-426: Was founded in 1987 by Ren Zhengfei , a former officer in the People's Liberation Army (PLA). Initially focused on manufacturing phone switches , Huawei has expanded to more than 170 countries to include building telecommunications network infrastructures , providing equipment, operational and consulting services, and manufacturing communications devices for the consumer market. It overtook Ericsson in 2012 as

12096-906: Was incorporated into Dongguan in 1669. After the Qing dynasty was defeated by the United Kingdom of Great Britain and Ireland in the First Opium War and the Second Opium Wars , Hong Kong Island and the Kowloon Peninsula were ceded to the British in the Treaty of Nanking and the Convention of Peking . On 21 April 1898 the Qing government signed a "Special Article for the Exhibition of Hong Kong's Borders" with

12208-577: Was led by Hong Kong-based China Merchants Group under Yuan Geng 's leadership and was to become the first export processing industrial zone in mainland China. At the beginning of April 1979, the Standing Committee of Guangdong Province discussed and proposed to the Central Committee to set up a "trade cooperation zone" in Shenzhen, Zhuhai , and Shantou . In the same month, the Central Working Conference decided on

12320-727: Was moving to Canada . In 2020, Huawei agreed to sell the Honor brand to a state-owned enterprise of the Shenzhen government to "ensure its survival" under US sanctions. In November 2022, the Federal Communications Commission (FCC) banned sales or import of equipment made by Huawei out of national security concerns, and other countries such as all members of the Five Eyes , Quad members India and Japan , and ten European Union states have since also banned or restricted Huawei products. According to

12432-434: Was named after a deep ( Chinese : 深 ; lit. 'deep') drain that was located within the area." The oldest evidence of humans in the area on which Shenzhen was established dates back during the mid- Neolithic period. Human have inhabited the area throughout the past 6,700 years. Historic counties were first established in the area 1,700 years ago. The historic towns of Nantou and Dapeng , were built on

12544-470: Was reformed as a Special Export Zone to create a favorable investment environment and introduce advanced technology and management experience, later renamed to Special Economic Zone in May 1980. As of 2022, Shenzhen has a nominal GDP of 3.24 trillion RMB (HK$ 2.87 trillion), which surpassed neighboring Hong Kong 's GDP of HK$ 2.11 trillion and Guangzhou 's GDP of 2.88 trillion RMB (HK$ 2.68 trillion), making

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