Final answer:
Shenzhen, once a small fishing village, has become a significant boomtown bordering Hong Kong, surpassing Guangzhou in leading the local economy.
Step-by-step explanation:
Shenzhen has experienced meteoric growth over the past few decades, transforming from a modestly sized city into a global hub of manufacturing and trade. Key to its rise was its designation as a Special Economic Zone (SEZ), which leveraged its proximity to the already established trade hub of Hong Kong. Capitalizing on this strategic location and the influx of foreign investment, Shenzhen is home to numerous industries, including a major partnership with the Walmart Corporation for the production of goods exported globally. As such, it has soared past Guangzhou in economic importance within the region.