October 19, 2020 | Issue 2020-44
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China marks 40th anniversary of Shenzhen Special Economic Zone
China celebrated the 40th anniversary of the establishment of the Shenzhen Special Economic Zone (SEZ) on Oct. 14 as the country embarks on a new journey toward socialist modernization.

Hailing Shenzhen's development over the past 40 years as "a miracle in the world development history," Chinese President Xi Jinping said the establishment of SEZs is a great innovative move made by the CPC and the country in advancing reform and opening up as well as socialist modernization.
Consul General Zhang Ping on Twitter
Video Clip: From fishing village to miracle city, Shenzhen remains pioneer as it turns 40
On Aug. 26, 1980, the Standing Committee of the Fifth National People's Congress, China's top legislature, approved the establishment of SEZ. Since then, Shenzhen has transformed from a small backward border town into an international metropolis with global influence and a permanent population of over 13 million.

After four decades of rapid growth, Shenzhen now ranks fifth among Asian cities in terms of gross domestic product , which expanded at an annual rate of 20.7% to 2.7 trillion RMB (about 400 billion USD) in 2019, from just 270 million RMB in 1980.