Shenzhen has emerged as China's leading industrial city, surpassing both Shanghai and Beijing in economic and technological achievements, according to the local mayor's report.
Shenzhen has announced significant advancements in its economic and technological landscape, achieving the status of China's largest manufacturing and exporting city, overtaking both Shanghai and Beijing. The city's mayor presented this information in his annual work report, highlighting Shenzhen's impressive growth in research and development density, artificial intelligence innovation, and support for start-ups. This transition positions Shenzhen not only as an industrial leader but also as a pivotal player in shaping the future of technology in China.
The city's economy has showcased remarkable growth, increasing from 2.83 trillion yuan ($410 billion) in 2020 to an estimated 3.87 trillion yuan ($560 billion) by 2025. This translates into an annualized growth rate of 5.5 percent, which is slightly higher than the reported figures for Beijing and Shanghai at 5.4 percent. This economic uptrend demonstrates Shenzhen's competitive edge and underscores its strategic importance within the national economic framework, particularly in areas of manufacturing and international trade.
Additionally, Shenzhen has significantly improved its industrial output, import, and export value over the last year, solidifying its status as a leading industrial powerhouse. With a full-stack AI ecosystem being cultivated in the city, and an emphasis on innovation and development in various sectors, Shenzhen's forward momentum is not only integral for its local economy but also sets a critical benchmark for other cities in China aiming to boost their technological and industrial capabilities.
