Shenzhen became China's first Special Economic Zone in 1980. This meant tax exemptions, land subsidies, and more control in operating private businesses, which led to several companies — and entrepreneurs — becoming billion-dollar rich.
Attracting and making full use of foreign investment is an important driving force behind the rapid development of Shenzhen's manufacturing industry. A direct orientation with the overseas market has prompted Shenzhen enterprises to attach more importance to product quality and design skills.
In 2022, Hurun Report listed Beijing with the most billionaires at 144 people, followed by Shanghai with 121 billionaires, and Shenzhen in third place with 113 billionaires.
Beijing. Beijing has 128,200 resident millionaires, 354 centi-millionaires, and 43 billionaires. The official capital city of China, Beijing is the base for many of the world's largest companies. Its billionaire population is particularly high — only New York City and the Bay Area rank higher based on this measure.
Shenzhen is a global center in technology, research, manufacturing, business and economics, finance, tourism and transportation, and the Port of Shenzhen is the world's fourth busiest container port.
For example, Shenzhen, a city bordering Hong Kong in the southeast, has evolved as a hub for the electronics industry. It has cultivated an ecosystem to support the manufacturing supply chain, including component manufacturers, low-cost workers, a technical workforce, assembly suppliers, and customers.
Summary of cost of living in Shenzhen, China: A family of four estimated monthly costs are 2,280.9$ (16,325.7¥) without rent. A single person estimated monthly costs are 631.0$ (4,516.8¥) without rent. Shenzhen is 59.9% less expensive than New York (without rent).
Forbes' real-time data shows that as of June 2023, there are 48 Australian billionaires on the list of the world's richest people.
The disparities in the number of billionaires between countries are staggering. While the United States and China each have more than 600 billionaires, many countries have only a handful of billionaires or none at all. For example, countries like Somalia, Eritrea, and the Central African Republic have no billionaires.
Zhong Shanshan is the founder and chairman of Nongfu Spring, a Chinese bottled water and beverage company. He founded Beijing Wantai Biological Pharmacy Enterprise, a medical diagnostic and vaccine producer. Shanshan became China's wealthiest person in 2020, surpassing Jack Ma and Pony Ma.
The number of foreigners living in Shenzhen of South China's Guangdong Province has been increasing drastically in the past years. There are now 6,990 foreigners who live in Shenzhen City as permanent residents, said sources from exit and entry section of Shenzhen Public Security Bureau.
The largest concentrations of expats in Shenzhen are in Shekou, OCT and Coco Park (Futian CBD) although there are pockets in other places in Futian such as Honey Lake and in Luo Hu.
Nearly 50 years ago, Shenzhen was little more than a market town, but it has evolved into a city of more than 12 million people and one of China's top retail destinations. Many visitors arrive in Shenzhen to take advantage of its multitudes of shopping centers and stores that sell just about anything you can imagine.
That year, it was declared a special economic zone, which opened the city to foreign investment, technology, and managerial expertise through the establishment of foreign-owned, joint-venture, and other business enterprises. From 1980 the city grew at a phenomenal rate, a rate known in China as “Shenzhen speed.”
Shenzhen is China's coolest, cleanest and most livable city. In 2019, Lonely Planet ranked Shenzhen as second in the world in the list of top 10 cities to visit. Shenzhen has a slightly higher cost of living than most cities in China but it is cheaper than 67% of cities in the world.
The United States is the richest country in the world with the highest GDP, as of 2021. China is the second richest country in the world with a $17.734 trillion GDP.
New York City came out on top of the world's wealthiest cities list with 340,000 millionaires, ahead of Tokyo with 290,300, and San Francisco's Bay Area with 285,000.
Australians wanting to be in the country's top 1% for wealth need to have an individual net worth of US$5.5 million ($8.3 million), Knight Frank's 2023 Wealth Report has found.
Australia has plentiful supplies of natural resources, including the second largest accessible reserves of iron ore in the world, the fifth largest reserves of coal and significant gas resources. For a long time, commodities have made up a sizeable share of our exports.
THE LIST. Australia's richest person, Gina Rinehart, is the daughter of iron-ore explorer Lang Hancock. Rinehart made her wealth rebuilding Hancock Prospecting, becoming chair in 1992 when her father died.
Baishizhou is the largest urban village in Shenzhen, with all the characteristics one could imagine of a slum — dark and narrow alleys, messy electric cables, damp air, and disorganized communities suffering from poverty.
Mandarin is known in known in China as 'Putonghua'. Because of Shenzhen's close proximity to Hong Kong and Guangzhou, you will also hear the Cantonese language spoken. Many people in Shenzhen can also speak at least some English, with the Shenzhen Government offering programs to help people learn English.