On the Role of Finance in Helping Shenzhen Become the “World’s Most Successful Special Economic Zone”

Scholars at home and abroad have never stopped the exploration for the secret of why Shenzhen has become “the world’s most successful special economic zone”. The opinions are diverse so far, but the general directions are gradually becoming unified, that is, mainly centering on “openness, tolerance, degree of marketization, population, talent, rule of law, protection of property rights, science and technology, geography, Hong Kong”, and even some people express these variable factors with a model and a formula. The author holds the opinion that the results of existing research only reveal one aspect of Shenzhen’s secrets of success but not the complete picture; Shenzhen’s success is 50% attributed to finance, especially the Shenzhen Stock Exchange. Following the clue of “finance, especially the Shenzhen Stock Exchange, is the number one contributor to the miracle of Shenzhen”, the author believes that as long as Shenzhen does well in three major aspects of improving the financial aggregation, competitiveness and radiation, it is expected to continue the glory of the past.