Thirty Years of Turbulence - Chinese Enterprises

作者：admin  点击次数：25  发布时间：2025-10-27

This situation did not change in the following years. In the eyes of foreigners, the investment conditions in Shenzhen were not as good as originally promised. An observation article was published in the April issue of Fortune magazine in the United States, complaining that "Shenzhen's governance, institutions overlap, and lack of business experience. An investor said that problems that can be solved with just one phone call in many countries need a long time to be discussed with the authorities in Shenzhen. This is still China." However, in the eyes of inland and other provinces, the policy environment in Shenzhen has become so good that it cannot be any better. More and more people like Wang Shi are coming here to find opportunities, and more and more goods and funds are flowing here. In 1979, Shenzhen Construction Bank, the main bank in Shenzhen, had only 3.81 million yuan in deposits. By 1983, it had already accumulated 719 million yuan. In the first decade of construction in Shenzhen, state-owned assets grew to 25 billion yuan, with 18 billion yuan coming from bank loans, the vast majority of which were financed from inland areas in various formal or grey ways. In this sense, the miracle of Shenzhen was not created by attracting foreign investment, but by the people of the whole country "pouring out" it. Guangdong scholar He Bochuan once described an example of "reselling" in his book "China in the Mountains": some Shanghainese went to Shenzhen to buy a folding umbrella, only to find that it was transported from Shanghai to Hong Kong and then back to Shenzhen. Shanghainese are very happy, saying they spent a few yuan less than buying in Shanghai, and Shenzhen people are also happy, saying they earned a few yuan; Hong Kong department stores are also happy, they also said they made a few dollars, I really don't know who went to hell!