Anchor:
The southern coastal city of Shenzhen is one of the major manufacturing basis for China's export. With shriking overseas demands as a result of the global financial crisis, many export-oriented enterprises are surviving the turmoil by innovating technology and restructuring prodoction.
CRI's He Fei has more.

Reporter:
Xue Min is president of the Siemens Mindit Magnet Resonance, a Shenzhen-based company producing large-scale, high-end medical appliances.
 
With 85 percent of its products being exported to the overseas markets, Xue Min says his company has not really been affected by the financial crisis.

"Our latest products have received 200 overseas orders within half a year, which is a quite satisfactory result in this industry. We don't worry about the global economic slowdown because our products are made with cutting-age patented technologies, and are competitively priced."

While high-tech companies continue to enjoy good export performances, the financial industry in Shenzhen has also maintained steady growth. Xiao Zhijia is the deputy director-general of the city's financial development office.

"Total financial assets in Shenzhen have amounted to more than 3 trillion Yuan in the first half of this year, with daily volumes of capital trade reaching 300 billion. This fully demonstrates the exuberant capital transaction in Shenzhen."

Xiao Zhijia says against the backdrop of the weakening world economy, the city's financial industry has achieved a 13 percent GDP growth in the third quarter this year.

Given such vigorous growth, mayor of Shenzhen Xu Zongheng says the city is confident in dealing with the global financial turmoil. He says although some production companies in the city have shut down, it won't shake Shenzhen's industrial foundation.

"Some 600 companies in Shenzhen have closed down, but the total output value of these companies only account for 0.15 percent of the city's industrial output. It won't affect the overall economy of the city."
 
Xu Zongheng adds that Shenzhen should seek opportunities in the current crisis to advance the city's industrial reform.

"I think now it's the best time for Shenzhen to introduce better investment and advance our industrial restructuring efforts. As the world's capital flow is diminishing, it's time to seek deeper international cooperation, capital reshuffling and business mergers."

Xu Zongheng says that in the current situation, companies should upgrade technology and raise the competitiveness of their products. And for the government, it will introduce policies to help them overcome the difficulties.

He Fei, CRI news.