Word: shenzhen
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...country changes course The winds of reform have swept over China with unequal force. Sichuan is a showcase for the new agriculture, Shenzhen is a magnet for foreign investment and a high-tech boomtown, but Shanghai remains peculiarly impervious to Deng's goals...
...love for things Western and of the new freedom to make money in imaginative ways. One evening a young man watched as several players began a game on his table. Leaning on a cue stick and nodding at the scene, he observed wryly, "This is the Fifth Modernization." SHENZHEN...
...would think that China's Donald Trump would be an ex-People's Liberation Army soldier who majored in drainage at the Lanzhou Railroad College? But Wang Shi, who made a spectacular decision in 1984 when he moved to a tiny backwater called Shenzhen, is the country's most successful real estate mogul. He heeded Deng Xiaoping's call to explore the virtues of capitalism, starting a trading company that moved everything from copy machines to the odd crate of shellfish. Although private property was still a dirty word in communist China, in 1993 Wang invested in real estate...
...revenues last year of more than $930 million. If his firm grows as it has over the past decade, Vanke in another 10 years could become the world's largest housing provider. Sixty percent of urban Chinese own their homes, up from practically zero when Wang started. And Shenzhen, that sleepy town where Wang, 54, made his base? It's a booming metropolis of 12 million people--one of dozens of cities that have sprouted across the nation seemingly overnight. "You blink in China, and another building goes up," says Wang. --By Hannah Beech/ Shanghai, with reporting...
...Shenzhen's Catalina lighting-fixtures factory, whose biggest customer is Wal-Mart, the managers are constantly struggling to meet the company's pricing demands and still turn a profit. Girls in pink jackets assemble and inspect parts for a little more than $100 a month. "Wal-Mart's requirements are very tight--on quality, ethical standards, production lead times. They've pushed us to achieve better in all ways," says Sng Lai Kee, who heads the factory. Catalina, he says, tries to stay ahead of Chiqui Cui's relentless price demands by coming up with more sophisticated designs for which...