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As an example of China's journey of innovation and opening-up, a fishing village in Shenzhen, Yumin is one of the best.

In 1981, there were 35 households in the village with an average annual income of 10,588 yuan ($1,614), making it the first of the country's "10,000 yuan villages".

Residents dedicated themselves to running transportation business, operating restaurants, developing aquaculture and setting up processing factories, garnering lives of prosperity through wisdom and hard work.

As a leading village in economic innovation, Yumin was also among the first to establish a joint-stock company.

"If a resident had spent 10,000 yuan to build three sets of seven-story buildings in the past, the value of his real estate could be as high as 20 million yuan today," said Huang Xingyan, deputy general manager of the company.

In 2019, the annual income of the collective economy was 13.2 million yuan. Annual household income was 800,000 yuan. Collective assets reached 290 million yuan, while family assets climbed to 66 million yuan.

In 2001, the village was leading again through its transformation of an urban village in Shenzhen. With more than 100 million yuan raised by residents, a new modern garden community sprang up.

Each original household now owns a 12-story building, typically more than 1,200 square meters.

Meanwhile, a history museum was born, as well as a library, a day care center for seniors, a community hospital and a kindergarten.

"Now, everyone in the village enjoys a decent and happy life," said Deng Guohua, a native.

"Digitization" has become a key word for the development of the village. Various traditional products, such as rice cakes, are promoted through online platforms.