Shenzhen has hosted an abundanceof landmark firsts in China"s economictransformation. It was the site of thePRC"s first stock release, first shareholding company and first joint venturehotel. China"s first auction of land was inShenzhen, and its first direct election ofvillage cadres was in Shenzhen"s Bao"anVillage. A trial of privatized housing,previously provided free by employers,marked the beginning of China"s hous-ing reform. These pioneering changesare what have fueled Shenzhen"s entre-preneurial spirit and helped shape theworld-famous China Model.