Founded in 1979, Shenzhen was established as one of the Special Economic Zones in China. Shenzhen covers a total area of 2,020 square kilometers, and has coastline of 230km. Shenzhen Special Economic Zone covers 327.5 square kilometers. The population reached 3.95 million in 1998, with 1.85 million in Shenzhen Special Economic Zone.
In the recent decade, Shenzhen has made remarkable progress in social and economic development, and transformed the border town in the past into a modern metropolis with the Shenzhen Spirit, which features exploitation, creation, union and dedication. From 1980 to 1998, GDP of Shenzhen increases 32.2% yearly on average, and reached 128.9 billion in 1998. Shenzhen is famous for the Shenzhen Spirit and Shenzhen Efficiency. The comprehensive economic strength of Shenzhen now takes the leading position among big and medium-sized cities in China.
Shenzhen blueprints its strategy and gives priority to the development of hi-tech. Hi-tech industry has become the No.1 economic growth point and the industry with Shenzhen characteristics. By now, Shenzhen has become one of the main bases of high and new technologies of China. In 1998, the output of hi-tech products amounted to 65.518 billion, making up 35.44% of total industrial output. Shenzhen ranks first in exporting over 10 hi-tech products in China, which include computer, LCD micro electronic machine and compute printer, etc.
Approved by the State Council, China Hi-tech Fair (CHTF) is held in autumn each year in Shenzhen, with the joint efforts of the Ministry of Foreign Trade and Economic Cooperation, Ministry of Science and Technology, Ministry of Information Industry, Chinese Science Academy and Shenzhen People's Government. The first CHTF was held from October 5 to 10,1999. CHTF is currently the only national hi-tech fair in China. The Mascot Byte has been selected.