Strategic emerging industries new engine for growth

New quality productive forces are becoming a new engine for the high-quality development of Shenzhen’s economy, Xiao Zuping, vice head of the city’s industry and information technology bureau, said at a press conference Thursday.

In the first three quarters of this year, the added value of strategic emerging industries reached 1.16 trillion yuan (US$162 billion), up 10.6% year on year and accounting for nearly 45% of the city’s GDP during the period, he said.

Particularly notable is the high-tech manufacturing sector, which contributed almost 60% to the added value of industrial enterprises above the designated size — firms each with an annual operating revenue of 20 million yuan or more.

The added value of the low-altitude economy, intelligent connected vehicles, and AI posted increases of 28.3%, 27.8%, and 14.1% year on year, respectively, from January to September.

Shenzhen is also planning to nurture future industries such as synthetic biology and brain science over the next five to 15 years.

Nearly 1 billion yuan has been allocated so far this year to promote enterprise upgrades and equipment renovations, resulting in a 16.5% surge in technological transformation investments and an 81.6% increase in industrial equipment purchases.

Shenzhen’s domestic patent authorizations reached 163,500 by August this year, securing its position as the national leader in patent grants. On the international stage, the city also continues to excel with 10,056 PCT international patent applications, maintaining the top spot among large and medium-sized cities in the country for the 20th consecutive year.