Its factories tool the world with mobile phones, while some of China’s best tech brains go there to churn out apps and games — but Shenzhen is now in lockdown as the coronavirus inflicts economic pain on the country and rattles markets, IgbereTV reports
Residents in the city of 17.5 million — sometimes dubbed China’s answer to Silicon Valley — have been ordered not to leave unless necessary and public transport has been halted as the country battles its worst virus outbreak in two years.
Most firms have been told to switch to working from home, which is impossible for many factories whose disruption is fuelling unease over supply chains and services. But how significant is Shenzhen to China’s economy?
Hi-tech Exports
Home to Chinese tech giants including Huawei and Tencent, Shenzhen ranks third among Chinese cities in economic output meaning any prolonged closure will be felt sharply.
“It is a manufacturing hub and also a tech centre for China,” Hong Hao, of financial services firm Bocom International, told AFP.
Already, major Apple supplier Foxconn has suspended operations in Shenzhen
