Tengda in guangdong eva sole

Eva sole Tpr soles Tengda
After the communist takeover and until the start of the Deng Xiaoping reforms in 1978, Guangdong was an economic backwater, although a large underground, service-based economy has always existed. Economic development policies encouraged industrial development in the interior provinces which were weakly linked to Guangdong via transportation links. The government policy of economic autarchy made Guangdong's access to the ocean irrelevant.[citations needed]
Deng Xiaoping's open door policy radically changed the economy of the province as it was able to take advantage of its access to the ocean, proximity to Hong Kong, and historical links to overseas Chinese. In addition, until the 1990s when the Chinese taxation system was reformed, the province benefited from the relatively low rate of taxation placed on it by the central government due to its post-Liberation status of being economically backward.[citations needed]
Although Shanghai is often cited as evidence of China's success, Guangdong's economic boom exemplifies the reality of the vast labor-intensive manufacturing powerhouse China has become, and all the rewards and shortcomings that come with it.[neutrality disputed] Guangdong's economic boom began with the early 1990s and has since spread to neighboring provinces, and also pulled their populations inward. The economy is based on manufacturing and export.[citations needed]
The province is now one of the richest in the nation, with the highest GDP among all the provinces, although wage growth has only recently begun to rise due to a large influx of migrant workers from neighboring provinces. Its nominal GDP for 2007 was 3.07 trillion yuan (US$422 billion), a rise of 14.5% on a year-on-year basis.
In 2007, Guangdong's primary, secondary, and tertiary industries were worth 174.62 billion yuan, 1.59 trillion yuan, and 1.3 trillion yuan respectively.[6] Its per capita GDP reached 32,713 yuan (about US$4,300).[7] Guangdong contributes approximately 12.5% of the total national economic output.[6] Now, it has three of the six Special Economic Zones: Shenzhen, Shantou and Zhuhai. The affluence of Guangdong, however, remains very much concentrated near the Pearl River Delta.
In 2007 its foreign trade also grew 20% from the previous year and is also by far the largest of all of China. By numbers, Guangdong's foreign trade accounts for 29% of China's US$2.17 trillion foreign trade or roughly US$634 billion.[8]