EYESHENZHEN  /   Business  /   Industry News

Hi-tech products exported to HK keep 20% annual growth

Writer: Han Ximin  |  Editor: Ye Shangqing  |  From: Shenzhen Daily  |  Updated: 2022-07-13

Exports of high-tech products to Hong Kong in 2021 reached 528.6 billion yuan (US$78.61 billion), accounting for 74.67% of Shenzhen’s total exports to the special administrative region, compared to 11.6% in 1997.

Between 1997 and 2021, exports of Shenzhen’s high-tech products kept growing at an annual rate of 19.8% on average, data released by Shenzhen Customs showed Monday.

Hong Kong remained as Shenzhen’s biggest trade partner, taking up 20% of the city’s overseas trade in 2021.

Over 25 years, Shenzhen’s exports have been upgraded from being labor intensive to tech intensive. It also paved the way for newly emerged industries that cover next-generation information technologies, high-end equipment manufacturing, new materials, biopharmacy and future industries like intelligent equipment and wearables.

After Hong Kong’s return to the motherland in 1997, closer ties and complementary trade modes have enabled the rapid growth of trade between the two cities.

Shenzhen was the major production base for Hong Kong’s traditional businesses, and Shenzhen Customs adopted centralized customs clearance for processing trade. Exporters can enjoy real-time clearance for 24 hours a day, seven days a week. At present, 137 enterprises in processing trade like food production still enjoy the benefit of centralized customs declaration and clearance.

In 1989, when Biel established its optical manufacturing base in Henggang, Longgang District, it engaged in production of glass covers of mechanical watches. Now it has grown into a world-leading phone glass plate company with eight bases around the world.