Beijing is deepening reforms to accelerate the development of emerging industries in the Chinese tech hub, which faces a barrage of US trade curbs.
The plan focuses on boosting Shenzhen’s ability to create scalable business models in industries such as artificial intelligence and aviation that can be replicated across China, by helping the city cultivate a larger talent pool, expand local companies’ access to financing, and speed up the deployment of cutting-edge technologies.
According to South China Morgen Post, the reform package includes policies to upgrade the local goods trade, grow the city’s global courier network, promote the international adoption of the digital yuan to facilitate transactions, and simplify customs processes for cultural exports.
Shenzhen is already home to more than 25,000 national-level hi-tech enterprises.
In 2024, the city’s strategic emerging industries grew by 10.5 per cent and accounted for 42.3 per cent of local economic output, according to the local government.
Its total trade volume surged to 4.5 trillion yuan (US$620 billion) last year, up 16.4 per cent year on year, making it China’s top trading city in volume terms, though its exports have underperformed the national average so far this year.
The city is also cementing its role as a national AI hub. In 2024, Shenzhen had more than 2,800 AI companies that generated a combined economic output of 360 billion yuan, up 35 per cent year on year.
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