Home to more than 10,000 high-tech firms, Shenzhen today is truly a “city of innovation.” It is a key base for advanced R&D and manufacturing in the Mainland, and is particularly known for its world-class technologies in drones, DNA sequencing, monitors and 4G technology. 

Companies that have set up headquarters or R&D facilities in the city include many well-established high-tech enterprises, and the number of start-ups choosing Shenzhen as their base has also risen in recent years. 

Chamber Chairman Stephen Ng and China Committee Chairman PC Yu led a 40-member delegation to visit Shenzhen on 25 April to learn more about the latest developments, as well as the positioning of the city in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).

During the visit, delegates met with Sha Xinhua, Assistant Counsel of the Science, Technology and Innovation Commission of Shenzhen. Sha credited Shenzhen’s success in innovation and technology to the city’s open attitude, in addition to the advantages of “early and pilot implementation” of the nation’s opening-up policies.

This open-minded approach combined with a favourable business environment has helped drive the city’s success, Sha said. Shenzhen’s aggregate R&D inputs reached over 90 billion yuan (around HK$110 billion) in 2017, accounting for 4.1% of its GDP. 

During the Chamber’s visit, the delegation also met with Ai Xuefeng, Vice Mayor of the Shenzhen Municipal Government, and visited two technology enterprises – drone-maker DJI and Han’s Laser, a laser machine manufacturer.

The delegation also visited two zones dedicated to nurturing start-ups run by young people: the Qianhai Shenzhen-Hong Kong Youth Innovation and Entrepreneur Hub, known as E Hub, and the Shenzhen-Hong Kong Youth Innovation and Entrepreneurship Base, or the Base. 

E Hub has so far incubated 304 start-ups, including 158 from Hong Kong and Macao. Wang Yanxia, Deputy Director General of the Authority of Qianhai-Hong Kong Modern Service Industry Cooperation Zone of Shenzhen, explained that Qianhai, as a platform connecting Hong Kong and the Mainland, will continue to bring in professional services from Hong Kong. The aim is to provide a familiar and comfortable living environment for entrepreneurs who choose to make the move from the SAR. 

She added that Qianhai will continue to expand into a development consisting of green and modern architecture, covering a total area of 15 square kilometers.

The Base – supported by the Science and Technology Innovation Committee of Shenzhen Municipality, the Hong Kong and Macao Affairs Office of the People’s Government of Shenzhen Municipality and the Innovation and Technology Commission of Hong Kong – was set up in 2013 in Shenzhen’s Nanshan district, and since then has incubated some 30 enterprises. 

During their visit to the Base, the Chamber delegates had the opportunity to speak to a number of the zone’s young entrepreneurs. They included one entrepreneur from Hong Kong, who said that not only does the Base offer preferential office rates, but it also provides professional consultation services to help start-ups look for investors.

“Young people are the future of innovation and technology,” said Yu, adding that he could see the passion these young people have for entrepreneurship and was impressed with their achievements. 
“I hope that young people in Shenzhen and Hong Kong will continue to exchange ideas and complement each other’s strengths to build a high-tech GBA together.”