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Shenzhen is a coastal city in South China, adjoining Hong Kong. It is located in southern Guangdong Province.
Demarcated from Hong Kong by the Shenzhen River in the south, it is bordered by Dongguan and Huizhou in the north, Daya Bay and Dapeng Bay in the east and the Lingding Sea and the mouth of the Pearl River in the west.
It has direct jurisdiction over six districts and four new areas: Luohu, Futian, Nanshan, Yantian, Bao'an and Longgang districts, and Guangming, Pingshan, Longhua and Dapeng new areas. The Central Government expanded the special economic zone to cover the whole city on July 1, 2010.
Shenzhen overtook Shanghai as the most expensive city in China for new homes last month after a surge since April, but sales softened, pointing to a possible turn in the market's trajectory.
New home prices in the city grew 7.84% from June to 33,698 yuan per square metre ($ 5,270). The gain was the strongest among the 10 major cities tracked by the SCMP-Creda index. That helped Shenzhen regain the crown after losing it in March last year as it swiftly responded to an industry downturn.
Banks in Shenzhen have started to tighten rules recently by raising down payments for mortgages.
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