Shenzhen's emerging sectors saw 60b yuan in investment in 2017

According to a bulletin recently released by the General Office of the State Council, Shenzhen's efforts in "cultivating and developing emerging industries and spurring the transformation and upgrading of competitive industries" have been effective.

In 2017, the city lent support to 2,570 projects in new industries and leveraged a total of 60 billion yuan ($9.4 billion) in investments.

At the forefront of reform and opening up, Shenzhen has seized the opportunity to bring about a new age of technological revolution and industrial transformation, with the aim of achieving breakthroughs in economic structural adjustment.

Emerging industries in Shenzhen in 2017 witnessed a steady growth of 13.6 percent year-on-year and made up 40.9 percent of the city's total GDP, becoming the major engine for economic development and industrial upgrading.

Support for innovative industries helps reinforce the city's industrial development. A total of over 90 billion yuan was invested in research and development last year, accounting for 4.13 percent of the total GDP.

Shenzhen's ecological environment also benefits from its industrial upgrading. [Photo by  Xue Yunhui/Shenzhen Economic Daily]

With the improvement of innovation support systems, technological innovation in Shenzhen is now forging ahead with the establishment of six Nobel Prize scientist laboratories, four fundamental research institutions, five manufacturing innovation centers, and seven overseas innovation centers. A lot of emphasis has also been placed on talents, which will help promote the development of industries.

An official of the high-tech industry division of the Shenzhen Development and Reform Committee said that in the fields of new generation information technology, internet, new energy automobiles, AI manufacturing, cutting-edge medical equipment, and unmanned aerial vehicles, Shenzhen has been able to form world-class industrial clusters.

Next, Shenzhen will put forward a future industrial development plan for key areas, including 5G mobile communication, the 3rd generation semiconductor, new-type displays, and artificial intelligence. A series of national and provincial level entrepreneurship and innovation demonstration centers have also been established, equipped with high-quality service platforms and innovation-driven entrepreneurs.