Source: China Daily

12-03-2008 18:30

By Fu Jing (China Daily)

If the grandeur that is New York - or Hong Kong - wasn't built in a day, how about within 50 years?

A bird's-eye view of Shenzhen.[File Photo]

No matter what the answer, South China's glittering Shenzhen in Guangdong province is already beginning to realize that grand ambition only three decades after its humble origin as an obscure fishing village.

It has become China's richest city ranked by per capita GDP and within another decade, it plans to become as modern and competitive as Singapore, Hong Kong and Seoul. And by 2030, after being integrated with its neighbor Hong Kong, Shenzhen could be contending with world big boys such as New York, London and Tokyo.

Shenzhen's growth and ambition comes at a time when China, the world's biggest transitional economy, is celebrating its 30th anniversary of opening its doors to the outside world.

It also comes after the provincial Party chief Wang Yang required the municipal leadership to reconsider Shenzhen's development vision by changing their outdated mindset.

"Shenzhen needs to orientate itself in the global spectrum," says Wang.

Despite the new high- minded goals the gap between Shenzhen current reality and the global aspirations remains wide despite city's economic miracles. Shenzhen's per capita GDP, surpassed $10,000 in 2007, just about one third of Singapore's, which ranks 21st worldwide. And it accounted for one fourth of New York, the sixth richest state in the US, with a per capita GDP of $40,272.