剖析零售与写字楼市场发展的推动因素

China’sFirstEConomiCExpErimEntAcitywithanareaofaround1,950sqkm,ShenzhenisoneofthemostdynamiccitiesinChina.Inthelate1970s,Chinabecameincreasinglyawareoftheimportanceofopeningupitselftotheglobaleconomy.TheCentralGovernmentsubsequentlyannouncedthedestinationofseveralcitiesastherolemodelsforthecountry’sopen-doorpolicy.Thesecitiesweretermedasspecialeconomiczones(SEZs)andShenzhen,beingoneofthem,haditsSEZestablishedin1980.TheShenzhenSEZcoversfourofthecity’ssixdistricts,namelyLuohu,Futian,NanshanandYantian.China’sfirsteconomicexperiment—raisingthestatusofShenzhentoanSEZ—allowedittoattractsubstantialforeigndirectinvestmentmainlyfromHongKongduringthe1980s.Theinitialwaveofinvestmentconcentratedonlabour-intensivemanufacturingindustriesasinvestorstappedonShenzhen’scheaplabourShenzhen:ANewLandscapeFundamentalForcesShapingtheRetailandOfficeMarketsandlandcosts.Thisremainedtheinvestmentmodethroughthedecadebeforethecityshiftedtomorecapitalandintellectual-intensiveindustriesinthemid-1990s.Intandemwiththecountry’seconomicprogress,thecity’susualresidentpopulationalsorosefrom0.3millionin1979to8.5millionin2006.aLEadingEConomyinChinaShenzhenisthenation’sfourthlargesteconomywithanannualGDPamountingtoRMB568billion,rankingfirstintotalvalueofexportsamongallChinacitiesin2006.Itoccupiesthetopspotinthenation’sGDPpercapitaranking,aheadofotherTierIcitiesofShanghai,BeijingandGuangzhou.Therapidgrowthofthecity’spillarindustrieslikehightechnology,logisticsandfinancehasunderpinnedthestrongmomentumbehindShenzhen’seconomicgrowth.September2007BaoanЖτNanshanହ೽Futianڥ้Longgang੊ۜLuohuઌ޼Yantian࿾้HongKongབྷ۝ShenzhenBay(HouhaiBay)മᎱຝޱݡຝShenzhenInternationalAirportമᎱЖτݚࡄࠖӍShenzhen-HongKongWesternCorridorമ۝།ҍ๠֨MetroLine3೟ރནMetroLine4වރནMetroLine2لރནMetroLine5໻ރནMetroLine1၉ރནChiwanPortԌຝ۝ShekouPortട८۝YantianPort࿾้۝ShenzhenGulfCustomമᎱຝ८ψHuanggangCustomߦۜ८ψFutianCustomڥ้८ψLuohuCustomઌ޼८ψWenjinduCustom໚࣍؏८ψShatoujiaoCustomೳ๯࢟८ψShenzhen:ANewLandscapeThesecondaryindustryaccountsforover50%ofShenzhen’sGDPandhasbeendrivingmuchofthecity’seconomicgrowthinrecentyears.Thisisdueparticularlytothefast-growingelectronics,ITandtelecommunicationsindustries,whichaltogetheraccountedforcloseto60%ofShenzhen’sindustrialoutputin2005.Figure:StrongGrowthofSecondaryandTertiaryIndustriesinShenzhensource:shenzhenstatisticalyearbookFigure1:ShenzhenasaLeadingEconomywithinChinasource:Chinastatisticalyearbook,statisticalyearbooksofvariousChinacitiesmainEConomiCpiLLars–high-tEChmanuFaCturingindustriEsShenzhenisnowoneofChina’sleadingtechnologycities,focusingonthemanufacturingandexportofelectronicsandtelecommunicationequipment,map1:MajorTransportationInfrastructureinShenzhen200120022003200420052006GrowthRate(y-o-y%)YearPrimarySecondaryTertiary-25-15-20-105251502010-51213141516171819Per-CapitaGDPin2006(RMB)5yearsaverageGDPgrowth(%)020,00010,00030,00050,00070,00060,00040,000ChengduChinaChongqingWuhanShanghaiBeijingGuangzhouHangzhouTianjinNanjingShenzhenShenzhen:ANewLandscapecomputersandotherelectricmachineries.Thecityaccountsforabout15%ofChina’sindustrialproductionforthiscategoryofproducts.TherapiddevelopmentinthisindustryhaspropelledseveralShenzhen-basedtechnologyenterprisestojointheinternationalleague.CompanieslikeHuawei,Konka,SkyworthandZTEnowholdasizeableshareintheglobalelectronicsandITmarkets.Figure:TopFiveManufacturingIndustriesin2005source:shenzhenstatisticalyearbookmainEConomiCpiLLars–LogistiCsindustryShenzhen’sstrategiclocation,beingonthewaterfrontofthesouthernborderofChina,hasmadeitoneofthemostimportantlogisticsportsinthecountry.Since1997,theShenzhencontainerportrankedasthesecondbusiestportinChina,afterShanghai.Itisalsothefourth-busiestcontainerportintheworldsince2003,justbehindSingapore,HongKongandShanghai.Figure4:ContainerThroughputofHongKong,ShanghaiandShenzhenPortssource:hongKongmarinedepartment,shanghaiandshenzhenstatisticalyearbooks0100300200400500600700IndustryRMBBillionInstruments,Meters,CulturalandOfficeMachineryElectricityandHeatingPowerProductionandSupplyTelecommunications,ComputerandOtherElectronicEquipmentElectricEquipmentandMachineryPetroleumandNaturalGasExtraction200120022003200420052006TEUs(’000,000)YearHongKongShenzhenShanghai05152520104Shenzhen:ANewLandscapeairportreached560,000tonnesin2006,rankingthefourthinChinawithay-o-ygrowthof19.9%.Theairporthasstarteditsextensionplanincludingtheconstructionofasecondrunwayandanewcargoterminal.GivenitsstrategicpositionattheheartoftheexportbaseofthePRD,theairporthasbeenpositionedasthecargoairportportalforSouthChina.ThegovernmenthasanambitiousplanofmakingShenzhenBaoanInternationalAirportoneofthetop30globalcargoairportsbefore2010.mainEConomiCpiLLars–BanKing,FinanCE,insuranCEandrEaLEstatEThebanking,finance,insuranceandrealestateindustriesaretherisingstarsinShenzhen’seconomy.Theyaccountedforabout35%(closetoRMB80billion)ofthecity’stertiaryGDPin2005.Thesesectorsnowemployedmorethan236,000headcounts,about4.1%ofShenzhen’sworkingpopulation.ShenzhenhousesoneoftheonlytwostockexchangesinChina.Establishedin1990,theShenzhenStockExchang