Ge Long Hui·2025-08-26 13:20Core Insights - Shenzhen has transformed from a financial desert in 1979 to one of China's three major financial centers by 2024, with a GDP exceeding 36.8 trillion yuan and a financial industry value-added of over 470 billion yuan [2][5]. Group 1: Initial Creation and Exploration (1979-1990) - Shenzhen was designated as a "testing ground" for financial reform in 1979, leading to significant innovations in China's financial history [6]. - The establishment of the first foreign bank branch in China, the Nanyang Commercial Bank in 1982, marked a pivotal moment in breaking monopolies [8]. - The founding of China Merchants Bank in 1987 and the listing of Shenzhen Development Bank on the stock exchange created early capital market legends [8]. - The issuance of China's first stock by the Bao'an Investment Company in 1983 initiated the exploration of shareholding reform [10]. Group 2: Growth and Development (1990-2004) - The establishment of the Shenzhen Stock Exchange on December 1, 1990, marked a significant leap in Shenzhen's financial landscape [11][12]. - By the end of 2004, the Shenzhen Stock Exchange had 536 listed companies with a total market capitalization of 1.1 trillion yuan, reflecting exponential growth [15]. - Shenzhen became a hub for venture capital, with the establishment of Shenzhen Innovation Investment Group in 1999, investing over 2 billion yuan by 2004 [16]. Group 3: Adjustment and Transformation (2004-2019) - The introduction of the SME Board in 2004 provided a dedicated financing platform for small and medium enterprises [19]. - The launch of the ChiNext board in 2009 focused on innovative and growth-oriented enterprises, significantly boosting the entrepreneurial spirit [21]. - By 2019, the ChiNext had grown to nearly 800 companies with a total market capitalization exceeding 6 trillion yuan [21]. Group 4: Elevation and Leadership (2019-Present) - Shenzhen's financial sector has advanced to a higher level under national strategies, with over 400 companies listed through the ChiNext registration system by 2025 [26]. - The establishment of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone has positioned it as a financial innovation pilot zone [23]. - By 2024, the digital yuan pilot program had over 300 million merchants accepting it, with transaction amounts surpassing 600 billion yuan [27]. Group 5: Achievements and Strengths - As of the end of 2024, Shenzhen's financial institutions held deposits of 135.78 trillion yuan and loans of 94.83 trillion yuan [29]. - The Shenzhen Stock Exchange had 2,852 listed companies with a total market value of 33.04 trillion yuan, ranking it third globally in trading volume [31]. - Shenzhen's financial industry added value reached 471 billion yuan in 2024, accounting for approximately 12.8% of its GDP [31].