Shenzhen, used to be a fishing village but it has successfully transformed into a modern city, positioning as a leading innovation hub for entrepreneurship after 40 years of reforms. Based upon empirical research, this presentation critically examines how Shenzhen residents assess their livelihood, particularly their urban life and neighbourhood cohesion. Reflecting upon international experiences when urbanization has led to megacities, this presentation also draws policy implications for Hong Kong, especially when Hong Kong and Shenzhen are strongly encouraged by the central government to engage in closer collaboration under the Greater Bay Area Development Blueprint.