Manufacturing, as the core of the real economy and the backbone of the national economy, has always been a key driver of economic growth. In the first half of this year, Shenzhen’s industrial added value above the designated size increased by 12.0% year-on-year, with manufacturing added value rising by 12.7%, making it the main engine of Shenzhen’s GDP growth.
Over the past two years, Shenzhen has consistently maintained the top position nationwide in both total industrial output and industrial added value above the designated size. With such a high starting point, how has Shenzhen’s manufacturing sector continued to accelerate its growth?
Strengthening the Foundation and Upgrading the Industrial System
Shenzhen’s success lies in its firm grasp of industrial development. The unwavering strategy of industrial development, with a focus on manufacturing, has been the key to Shenzhen’s sustained leadership in industrial competitiveness.
Shenzhen views new industrialization as the core task for economic development, leading the construction of a modern industrial system through technological innovation. The city has focused on high-end, high-quality, and high-tech industries, setting higher development goals and accelerating the establishment of a globally leading advanced manufacturing center. As early as June 2022, Shenzhen launched the “20+8” industrial cluster development strategy. By March 2024, this strategy was upgraded to version 2.0, with precise implementation of eight key tasks. Shenzhen aims to achieve more than 1.6 trillion yuan in added value for strategic emerging industries by 2025, forming several trillion-yuan, 500-billion-yuan, and 100-billion-yuan industrial clusters.
In the first half of this year, Shenzhen’s strategic emerging industries achieved an added value of 760.25 billion yuan, a year-on-year increase of 11.7%, accounting for 43.9% of GDP. For example, industries such as software and information services, smart terminals, networks and communications, and ultra-high-definition video displays grew by 12.6%, 16.6%, 10.3%, and 20.0%, respectively. Through these continuous upgrades, Shenzhen has further solidified its competitive edge in global manufacturing.
Seizing Opportunities and Rapidly Rising New Industries
Shenzhen has always maintained sharp insight in industrial development, precisely capturing the opportunities of emerging industries. The optimization and upgrade of the “20+8” industrial clusters have shown strong growth momentum in new fields.
For instance, the low-altitude economy and aerospace industry, as a new member of the “20+8” industrial clusters, grew by 32.4% year-on-year in the first half of the year. Shenzhen was the first to launch the nation’s “low-altitude + rail” air-rail intermodal transportation project, significantly enhancing the connectivity of the Greater Bay Area and offering citizens more diverse travel options.
The artificial intelligence (AI) industry, which was separated from the software and information services cluster, achieved a 13.4% growth in the first half of the year. Since 2023, Shenzhen’s AI industry has seen a year-on-year growth of over 20% in both scale and the number of enterprises. By releasing application scenarios and promoting benchmark applications, Shenzhen has secured an important position in the national AI industry.
The intelligent connected vehicle industry cluster grew by 27.7% in the first half of the year, steadily progressing toward the goal of becoming a “new generation world-class automobile city.” BYD performed remarkably in the national new energy vehicle market, driving a significant increase in the city’s automotive production. At the same time, its international expansion has accelerated. Through the rapid development of this industry, Shenzhen is establishing itself as a global leader in the smart automotive sector.
Enhancing Traditional Strengths, Steady Progress
While new industries are rapidly emerging, Shenzhen’s traditional strengths are also continually improving, demonstrating a “stronger gets stronger” characteristic.
In the first half of the year, Shenzhen’s high-tech product output continued to grow rapidly, with 3D printing equipment, service robots, and electronic components output increasing by 83.3%, 37.6%, and 29.1%, respectively. In the traditional leading industries, the added value of large-scale computer, communication, and other electronic equipment manufacturing industries grew by 17.0% in the first half of the year. For example, Huawei’s Pura70 series smartphones performed outstandingly in the market, with shipment volume increasing significantly year-on-year.
Additionally, the pharmaceutical manufacturing industry achieved a 28.7% growth in added value in the first half of the year. Mindray Medical, through the acquisition of Huatai Medical, achieved a landmark merger in the industry, further consolidating its competitiveness in the global high-end medical equipment field. Shenzhen’s Luye Pharma is also expanding its influence in the international market through global supply chain layouts and innovative drug development.
Since the beginning of this year, Shenzhen’s industrial investment has increased by 49.2%, manufacturing investment by 55.5%, and high-tech manufacturing investment by 69.3%. These investments indicate that Shenzhen is not only maintaining its existing advantages but also injecting new vitality and momentum into its future development. Looking ahead, the high-quality development of Shenzhen’s manufacturing industry will provide a solid foundation for the city to play a more important role in the global economic landscape.
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