Shenzhen ranked second among Chinese cities in terms of market capitalization of its listed companies, which stood at 12.7 trillion yuan (US$2 trillion) Wednesday, Shenzhen Economic Daily reported.
The publicly traded companies include those registered or headquartered in Shenzhen, while listed on the stock exchanges in the Chinese mainland, Hong Kong and New York.
The latest data showed that Shenzhen is home to 505 public companies, ranking third in the country. Among them, 192 enterprises are from the information and technology sector, accounting for over 38%, and 124 from the industrial sector, accounting for 25%.
The top five Shenzhen companies on the market capitalization list are Tencent Holdings Ltd., China Merchants Bank Co. Ltd., Ping An Insurance (Group) Company of China, Ltd., BYD Co. Ltd. and Shenzhen Mindray Bio-Medical Electronics Co. Ltd. Their market cap ranges from 372.5 billion yuan to 2.98 trillion yuan.
According to statistics from the Daily, in the emerging industries fields, Shenzhen ranks first among the four first-tier Chinese metropolises in terms of the number and market value of public companies.
The 2021 Shenzhen Economic Performance Report indicated that the city’s high-tech goods output rose rapidly. Among them, output for new energy vehicles rose by 173.9%, industrial robotics by 60.5%, smartphones by 40.9% and 3D printing devices by 21.2%.
Chen Xian, a professor from Antai Economics-Management College of Shanghai Jiaotong University, maintained that Shenzhen’s emerging industries’ outstanding performance benefits from talent policies, excellent innovative ecology integrating industrial chain, supply chain and venture capital, as well as preferential policies offered by the government.