New places such as Shenzhen, China, are emerging as new hotspots for the tech scene, reports Business Insider (7 June 2019). CNN called Shenzhen China's Silicon Valley. "Shenzhen is a big part of the reason that China has been minting new billionaires at a rate of one per week," said Carrie Law, CEO of Juwai.com, a real estate site for Chinese buyers.