Shenzhen, located in southern China and bordering Hong Kong, was once a symbol of rapid urban growth—a “mythical city of miracles.” It became the starting point for former CCP leader Deng Xiaoping’s “Open Door” policy of “reform and opening up,” which transformed Shenzhen into a showcase of China’s economic prosperity.
However, recent data suggests that Shenzhen’s economic collapse has reached alarming levels.
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Shenzhen’s Economy Collapses Dramatically, State-Owned Enterprises’ Net Profit Plunges 93%
