ICIF opens as SZ's cultural revenue exceeds ¥1T

The 20th China (Shenzhen) International Cultural Industries Fair (ICIF) commences today at the Shenzhen World Exhibition & Convention Center in Bao’an District. The continued growth and popularity of the event is a testament to the rapid development of Shenzhen’s cultural industry over the past two decades.

In 2023, Shenzhen’s cultural enterprises above designated size (enterprises with annual sales over 20 million yuan or US$2.76 million) achieved a significant milestone as their total operating revenue reached 1.1 trillion yuan, according to official data. It represented 49% of Guangdong Province’s total and 8.5% of the nation’s total. Approximately 42% of the total revenue came from the cultural manufacturing industry.

At the end of 2023, there were 3,369 cultural enterprises above designated size in Shenzhen, an increase of 226 from 2022.

The Guangdong Pavilion in Hall 13 of the 20th China (Shenzhen) International Cultural Industries Fair (ICIF), which commences today at the Shenzhen World Exhibition & Convention Center in Bao’an District today. Highlighting “culture + technology,” the pavilion features 381 cultural enterprises from across the province, showcasing over 20,000 cultural products, services, scenarios, and technologies. SD-Agencies

From 2010 to 2022, the added value of Shenzhen’s cultural and related industries grew from 51.26 billion yuan to 246.2 billion yuan, with its proportion of GDP increasing from 5.35% to 7.58%.

Shenzhen’s cultural industry has a competitive edge in the subsectors of software development, jewelry manufacturing, electronic information product manufacturing, and printing.

A scene at a local art and lifestyle market. Photos from Dute News except otherwise stated

In 2023, the business income of five subsectors — content creation and production, news information services, cultural consumption terminal production, creative design services, and cultural equipment production — exceeded 100 billion yuan each, cumulatively accounting for 88.1% of the total business income of the cultural industry in Shenzhen.

The city’s foreign cultural trade has been growing steadily.

A painter works in a studio in Dafen Oil Painting Village in Longgang District. 

In 2022, the city led the country in exports of cultural products, contributing to 18.5% of the national total and 41% of the provincial total.

Cultural specialized equipment led in export value, followed by cultural goods, and arts and crafts.

        Models walk the runway at a fashion show in Nantou Ancient Town in Nanshan District. 

Digital cultural trade has also developed rapidly, with digital cultural products and services, represented by online games and animations, becoming new growth points.