About This Source - CGTN
This story is an English language news item from CGTN. CGTN is a Chinese state-funded broadcaster.
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Hong Weimin, principal liaison officer for Hong Kong, Shenzhen Qianhai Authority, said Shenzhen is a maker’s paradise that is more powerful than Silicon Valley. The manufacturing industry in the cities surrounding Shenzhen is extremely well developed, and it is possible to find suppliers to make products at low cost in a short period of time. At the same time, Shenzhen has a large number of private enterprises, such as Huawei, ZTE, BYD and Tencent. He believes that this is mainly attributable to the incentives taken by the Shenzhen government to provide certain preferential policies to outstanding enterprises.
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In This Story: Hong Kong
Hong Kong, officially the Hong Kong Special Administrative Region of the People’s Republic of China (HKSAR), is a metropolitan area and special administrative region of the People’s Republic of China on the eastern Pearl River Delta of the South China Sea. With over 7.5 million residents of various nationalities in a 1,104-square-kilometre (426 sq mi) territory, Hong Kong is one of the most densely populated places in the world.
Hong Kong became a colony of the British Empire after the Qing Empire ceded Hong Kong Island at the end of the First Opium War in 1842. The colony expanded to the Kowloon Peninsula in 1860 after the Second Opium War and was further extended when Britain obtained a 99-year lease of the New Territories in 1898. The whole territory was transferred to China in 1997. As a special administrative region, Hong Kong maintains separate governing and economic systems from that of mainland China under the principle of “one country, two systems”.