Shenzhen aims to be global technology innovation hub

Updated 2018-05-21 09:33:04 China Daily

An artist shows how to make a painting using virtual reality technology at the Global Innovator Conference in Shenzhen in September 2017.

This year marks the 40th anniversary of China's reform and opening-up. As a major part of economic reform and opening-up to the world, China established five Special Economic Zones in the 1980s. The rise of Shenzhen, the first such zone, epitomizes China's transition from being economically underdeveloped into the world's second-largest economy. This is the first of a series on Shenzhen.

City ramping up efforts to attract high-level skilled professionals

It was a summer night on May 6, 1979, when a group of more than 200 youngsters from Nanling village made a desperate dash across the Shenzhen River with the hope of beginning a new life in Hong Kong.

More than 500 villagers from Nanling left their homes for Hong Kong between 1956 and 1979 due to poverty. With per capita annual income of less than 100 yuan, they risked their lives to cross the river to Hong Kong, where people at the time earned more than 10,000 yuan a year.

But four decades later, instead of fleeing, people are flocking in. Nanling has been urbanized and emerged as one of the country's most affluent villages. The villagers collectively own an industrial park, which houses more than 40 enterprises, in addition to numerous office buildings, shopping centers and hotels. Each villager, as a shareholder, earns an annual bonus of more than 150,000 yuan (,520).

Similar stories can be seen in other farming and fishing villages in Shenzhen, which borders Hong Kong to the south. Their rags-to-riches transformation came after the Chinese mainland announced its reform and opening-up policies in 1978 and designated Shenzhen as the first of its Special Economic Zones, which enjoyed more market-oriented and flexible economic policies to attract foreign investment.

As a front-runner in reform and opening-up, the city used to rely on processing trade mainly for Hong Kong. After enjoying a high economic growth rate of nearly 40 percent per year from the 1980s to the early 1990s, due to limited land resources and rising labor costs, the city gradually turned its focus to developing high value added industries such as information technology, biotechnology, new materials and high-end equipment manufacturing. Now it has become a magnet for technology startups and the headquarters of famous high-tech companies such as Huawei Technologies Co Ltd, Tencent Holdings Ltd and one of the world's largest drone makers, DJI.

But how will Shenzhen continue to be the front-runner in the coming decades?

"When other places are also competing to become the front-runner, you must think outside the box," said Wang Weizhong, Party secretary of Shenzhen.

"We should not just train our focus on the 1,997 square kilometers of Shenzhen. We must look at Shenzhen from a broader view," Wang said.

To be sure, the local government aims at building Shenzhen into a core engine, in terms of both technology innovation and financial support, driving development of the Guangdong-Hong Kong-Macao Greater Bay Area and, by 2035, into a global technology innovation hub.

The Bay Area is part of the central government's mega plan for coordinated regional development, along with the Beijing-Tianjin-Hebei area and the Yangtze Economic Belt. The Bay Area, consisting of 11 cities and regions with a combined population of 67 million, generated GDP of over .5 trillion last year, surpassing that of the San Francisco Bay Area and overtaking that of Russia.

In fact, the ambition of Shenzhen also epitomizes the country's emergence from being economically underdeveloped four decades ago into the world's second-largest economy through its opening-up. As a beneficiary of opening-up, the country is playing an increasingly important role in global governance and is dedicated to building an open world economy and pursuing common development with other countries.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58June 19 2018 13:08:22

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16June 19 2018 13:08:22

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18June 19 2018 13:08:22

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords