Shenzhen, often referred to as China’s Silicon Valley, has witnessed unparalleled growth in its millionaire population over the last decade, soaring by 140%, far surpassing other major Chinese cities like Beijing and Shanghai. This surge is fueled by a combination of factors, including a conducive business environment, organic income growth, and an influx of high-net-worth individuals from other cities. Unlike Shanghai, which relies heavily on state-owned enterprises, Shenzhen boasts a vibrant landscape dominated by private-sector entrepreneurs and tech giants like Tencent, Huawei, and BYD. Its designation as one of China’s first special economic zones in 1980, coupled with its proximity to the business-friendly environment of Hong Kong, has catalyzed its economic development. With 50,300 resident millionaires presently, Shenzhen ranks as the 27th wealthiest city globally, but its trajectory suggests it could break into the Top 10 by 2040 if it sustains its pro-business stance and continues to nurture its entrepreneurial spirit.