City maintains steady growth in attracting foreign capital

02 08, 2022

Shenzhen maintained a steady growth in the introduction and absorption of foreign capital in 2021. Nearly 6,000 foreign-invested enterprises were established in the city last year, an increase of 30 percent year on year, Shenzhen Special Zone Daily reported yesterday, quoting the commerce bureau.The city's actual use of foreign capital exceeded a record high of US$10 billion, up by more than 20 percent year on year, the report said.Shenzhen has gained widespread recognition from international investors while attracting foreign capital.In the second half of last year, Japanese firm Nomura Orient International Securities Co. Ltd. opened its third branch office on the Chinese mainland in Shenzhen, with the goal of using the office as a Nomura window in Shenzhen and tapping into the city’s market in wealth management, asset management, research and institutional business."Shenzhen is China's innovation center for the science and technology industry, and a financial and trade logistics center, with a solid foundation and rapid development," Toshiyasu Iiyama, executive managing director of Nomura Holdings Inc., was quoted as saying."By setting up a branch here, we will strive to become a business model for foreign-owned securities companies," Iiyama said.Credit Suisse Securities (China) Ltd. also expanded its operations in Shenzhen. In September last year, the company upgraded its Qianhai securities business department to a Shenzhen branch office, which was moved to Futian District, to further expand its business channels.Shenzhen's government support and encouraging policies are seen as a key factor in foreign investors speeding up their business expansion in the city, according to the Daily.Last year, the city's commerce bureau issued measures for encouraging multinational corporations to set up headquarters enterprises in the city.So far, 35 foreign-invested enterprises have been identified as headquarters enterprises of multinational corporations in Shenzhen.Retail giant Walmart is one of these corporations. According to Luo Daming, senior director of corporate affairs in Walmart China, Shenzhen has long attached importance to foreign investment and constantly created a good business environment for multinational companies to invest in.

SZ takes the lead in China in digital economy

01 21, 2022

Shenzhen took the lead among Chinese cities in terms of the scale and quality of the digital economy, with the added value of its core digital economy industries accounting for 30 percent of Shenzhen's GDP, data released Wednesday by the Shenzhen Municipal Industry and Information Technology Bureau showed.The data also showed that in the first three quarters of 2021, the number of newly registered digital economy enterprises in Shenzhen increased by over 80 percent year on year.The sector's leading companies are establishing a foothold in Shenzhen — for instance, China Electronics relocated its headquarters from Beijing to Shenzhen in a bid to facilitate building self-reliance and self-improvement in network security.Shenzhen's achievements in digital information infrastructure are equally outstanding. As of the end of 2021, the city had set up 51,000 5G base stations at a rate of 28.5 stations per 10,000 people, as well as 15,000 multifunctional intelligent poles to form an efficient data-sharing platform for smart city construction.As one of China's first "Gigabit Cities", Shenzhen boasts key venues' 5G network coverage reaching 91 percent and all families having gigabit fiber internet, according to a report by the industry and information technology bureau.The South China tech hub is now mulling a four-year plan for new information infrastructure construction, rolling out measures for developing 5G and gigabit networks, satellite internet, edge computing, urban Internet of Things, industrial internet and blockchain infrastructure, said Yu Xiquan, the bureau's director.In a bid to step up the development of Shenzhen's digital economy, a scheme for establishing a data exchange in the city to trade data products has been authorized for preparation and implementation.At the end of last year, a state-owned company specializing in data transactions was registered in Shenzhen. Its CEO, Li Hongguang, said that the firm would launch pilot programs related to finance, telecommunications, medical care, credit information and meteorology.

SZ's exports still rank first in China

01 20, 2022

Shenzhen's exports of goods reached 1.92 trillion yuan (US$302 billion) in 2021, up 13.5 percent year on year, ranking first among major Chinese cities for the 29th consecutive year, statistics released by Shenzhen Customs showed yesterday.Total foreign trade including imports reached 3.54 trillion yuan, up 16.2 percent year on year. Data showed that imports climbed up 19.5 percent to 1.62 trillion yuan.In December, the city's foreign trade reached 385.6 billion yuan, up 25.8 percent, a single month record since April 2013 and showed positive growth for 14 months straight.New records have also been reached for trade with RCEP (Regional Comprehensive Economic Partnership) partners, countries under the Belt and Road Initiative, and Central and Eastern European countries amounting to 935.49 billion, 775.55 billion and 62.2 billion yuan respectively.The volume of general trade, which has higher added value and can better reflect enterprises' capabilities to develop on their own, reached 1.75 trillion yuan, up 16.9 percent compared to the previous year, accounting for 49.4 percent of the total value of Shenzhen’s foreign trade.Private enterprises contributed 2.16 trillion yuan or 60.8 percent to the city's total foreign trade last year, up 19 percent year on year. The trade of foreign-funded enterprises reached 1.18 trillion yuan, up 11.8 percent, accounting for 33.1 percent of the total trade.In 2021, the structure of export products was further optimized, and exports of consumer electronics grew significantly.Statistics showed that exports of mechanical and electrical products increased by 18.8 percent, reaching 1.54 trillion yuan, accounting for 80.2 percent of the total value of Shenzhen’s exports last year. Among them, exports of computers and other automatic data processing devices and their spare parts, mobile phones, audio and video equipment, as well as household appliances increased by 21.9 percent to 510.49 billion yuan.The imports of mechanical and electrical products reached 1.29 trillion yuan, up by 15.3 percent and took up 79.6 percent of the total imports.

37 SZ firms are leaders of industrial standards

01 13, 2022

A total of 37 Shenzhen enterprises became the national leaders of industrial standards for the year 2021, a list released by Shenzhen market supervision administration showed Monday.The evaluation of the enterprise standard leaders, in principle, is made by referring to the core indexes of enterprises in key industries that are higher than the national and industrial standards which are based on open data in the national enterprises information public service platform.Shenzhen's enterprise standard leaders covered various industries like furniture, watches, projectors, cable wires, textiles, audiovisual equipment, containers and internet services. Enterprises on the list such as Tencent, Honor, Fiyta, China International Marine Containers, JMGO and CCSZCC show the city's leading advantage in the country’s high-quality development.In 2021, five institutions were chosen as agencies to conduct evaluations, namely the Shenzhen Institute of Standard Technology, Shenzhen Furniture Research and Development Institute, Shenzhen Standardization Association, Chinatex Standard (Shenzhen) Testing Co. Ltd. and Shenzhen Cesi Information and Technology Co. Ltd.

City to boost satellite-related industries

12 16, 2021

Shenzhen is now collecting industrial key projects relating to satellites and their applications to seek the industrial development opportunities and constructing "satellite+" innovation ecology.The projects include six orientations, namely demonstrations of special application scenarios, research on major equipment and key spare parts, key technologies' research and innovative applications, core products and spare parts industrialization, civil use and public service platform infrastructure construction and major industries' public service platform.This June, in a move to be a global satellite and applied industrial innovation pinnacle, Shenzhen Municipal Development and Reform Commission unveiled a regulation covering 16 innovation measures from five aspects including advancing application scenarios, enhancing innovation capabilities and consolidating infrastructures.Shenzhen will offer a subsidy up to 200 million yuan (US$31.43 million) for a single satellite project and up to 50 million yuan for satellite launch insurance.In the regulation, the city encourages the integration of satellites with different industries to forge different application scenarios, supporting application of satellite technologies in different industries like transportation and logistics, marine economy, natural resources, urban safety and environmental protection. For demonstration projects with great market potentials, the city will provide subsidies up to 30 million yuan a year.The city supports private enterprises in construction of civil space infrastructures like the high-powered broadband communications satellite system and will offer subsidies up to 200 million yuan for a single project and 50 million for launch insurance.The city also supports leading enterprises to set up satellite industrial parks and to form an industrial cluster in chip research, telecommunications research and developments, remote sensing data treatment and research and operations of intelligent satellites.For research on major facilities, core technologies and key spare parts relating to comprehensive and integrated application of communications, navigation and sensing, the city will offer subsidies up to 300 million yuan.Shenzhen has made solid progress in the development of its satellite industries and its global influence has kept increasing in recent years.In December 2018, the first satellite for the Hongyan constellation, which is comprised of hundreds of satellites in the first phase, was launched. It was the first national-level commercial space project developed by Shenzhen Aerospace Dongfanghong Development Ltd. After completion, the constellation will provide services in various areas, including Internet of Things (IoT), intelligent terminals, mobile broadcast, navigation enhancement and broadband.In September 2019, China's first polar-observing satellite, BNU-1, which was made in Shenzhen, was launched. In one year, it obtained more than 2,500 images covering the Arctic and Antarctic regions. It is the first member of China's polar observation satellite constellation, which will have a total of 24 satellites. Supported by the Ministry of Science and Technology, the satellite was designed by Beijing Normal University and jointly developed by China Great Wall Industry Corp. and Shenzhen Aerospace Dongfanghong Satellite Co. Ltd.In July 2020, a high-powered broadband communications satellite, Apstar 6D, designed to provide internet access to airline passengers, cruise ships, fishing vessels, and other mobile users, was successfully launched aboard a Chinese Long March 3B rocket. This made Shenzhen become the second city in China that owns a communications satellite.It is estimated that the market of satellite mobile communications terminals will reach 8 billion yuan in the coming five years. The city will support enterprises developing core products related to satellites and its applications, research and scientific achievement transformations of satellite terminals, BeiDou navigation system, liquid crystal phased array antenna and remote sensing mapping equipment.

SZ to offer subsidies to stimulate marine economy development

12 09, 2021

Enterprises, research institutes and higher learning institutions applying their products and services in the marine sector or applying their marine research achievements in non-marine sectors can expect to receive subsidies from the Shenzhen government, Shenzhen Economic Daily reported.The subsidies will amount to 20 percent of the price stated in their procurement or technological service contracts, and capped at 10 million yuan (US$1.58 million), according to a recently released draft plan by Shenzhen’s planning and natural resources bureau.This is one of the 12 measures mulled by the city to encourage high-quality development of the marine economy. The plan supports marine enterprises to set up research institutes or invest in industrial projects, and support research institutes or higher learning institutions to set up branches in Shenzhen.The city will offer rewards to marine projects supported by national- or provincial-level special funds equivalent to 50 percent of its self-financing funds and the subsidy will be capped at 10 million yuan. The combined fund awarded by the national, provincial and municipal authorities will not exceed 50 percent of the total investment of a project.Newly registered marine enterprises will be rewarded an amount equivalent to 50 percent of their local revenue contribution within three years after registration, with a cap at 1.5 million yuan.High-growth marine enterprises whose average revenue or net profit growth rate over the last two years is not less than 10 percent will be rewarded an amount equivalent to 40 percent of their local revenue contribution, with a cap at 1 million yuan, according to the measures.The government will also support new product testing by offering subsides equivalent to 50 percent of the total expenditures, with a cap of 1 million yuan.

City industries see stable, quality growth

12 08, 2021

Thirty-two out of 37 industrial sectors in the city posted positive growth between January and October this year, with six sectors seeing double-digit growth.The industrial added value of general equipment manufacturing, electrical machinery and equipment manufacturing, and instrument manufacturing showed a year-on-year increase of 18.9 percent, 15.9 percent and 15.5 percent respectively, data released by the Shenzhen Municipal Statistics Bureau showed.Investments in education, public health, and production and supply of power, gas and water increased by 34.3 percent, 19.5 percent and 17.4 percent respectively, while the decrease of fixed asset investments narrowed. Investments in transportation, warehousing and postal industries increased by 13.1 percent year on year between January and October.Consumer goods retail sales hit 777.6 billion yuan (US$122.1 billion) in the first 10 months of the year, up by 13.4 percent year on year. Steady growth was seen in catering services and retail sales of basic necessities, food, grain and oil.Foreign trade increased by 14.9 percent to 2.81 trillion yuan between January and October. Exports reached 1.51 trillion yuan, up by 13.2 percent year on year, while imports increased by 17.1 percent to 1.29 trillion yuan. General trade increased by 15 percent and took up 50.2 percent of the total trade.Between January and October, the city's public budget expenditure was 359.5 billion yuan, up 7.9 percent, with expenditures in nine categories concerning people's livelihood and well-being increased by 11.7 percent, accounting for 70.6 percent of the total budget. Spending in social security and employment, health and education increased by 53.2 percent, 19.1 percent and 14.9 percent, respectively.

SZ launches one-stop foreign investment online service

11 19, 2021

Shenzhen's commerce bureau officially launched its Foreign Investment Service Zone on the "Shen i Qi" website (www.szsiq.com) Monday.The one-stop online service aims to meet foreign-invested enterprises’ needs in business operations and further enhance the rule of law, internationalization and foreign investment facilitation in Shenzhen, bureau officials said.The service zone features three main sections, namely business operation, investment and taxation, and information submission.Business operation services cover corporate establishment, alteration, cancellation, social security and housing allowance registration. Investment and taxation services cover bank account opening appointment, foreign currency registration appointment, visa processing, real-name taxation certification and invoice application. The information submission section features information report modification and annual report filings by foreign-invested corporations and foreign representative offices.The launch of the online service is part of the city's slew of measures to attract foreign capital.

City ranks second in urban competitiveness

11 05, 2021

Shenzhen ranked second in comprehensive urban competitiveness among Chinese cities in 2021, following Shanghai, according to a report released in Beijing on Tuesday.Other cities in the top 5 were Hong Kong, Beijing and Guangzhou, while Suzhou, Taipei, Nanjing, Wuhan and Wuxi ranked between sixth and 10th.Shenzhen also took a leading place in terms of economic vitality and local elements competitiveness among Chinese cities.The report, compiled by researchers led by Ni Pengfei, assistant to the president of the National Academy of Economic Strategy of the Chinese Academy of Social Sciences, surveyed and compared 291 cities nationwide around indexes in comprehensive economic and sustainable competitiveness and other subcategories.Shenzhen took second place in sustainable competitiveness, after Hong Kong and was followed by Taipei, Shanghai, Beijing and Guangzhou.The city ranked first in local elements index in the urban economic competitiveness subcategory. "The high ranking can be attributed to Shenzhen's high degree of convenience in market-based financing, high number of patent applications and high ratio of youth talent," Ni was quoted as telling Shenzhen Special Zone Daily.Among four indexes in the sustainable competitiveness subcategory, Shenzhen ranked first in urban economic vitality and third in environmental resilience and scientific and technological innovation. Economic vitality was attributed to the high youth talent ratio and economic growth, according to the report."Shenzhen has sufficient power supply and low pollution," Ni said. "Its indexes in the number of patent applications and technology enterprises took the lead in the social inclusiveness subcategory."In 2020, Shenzhen's GDP reached 2.77 trillion yuan (US$433.11 billion), ranking fifth among Asian cities, and its exports have ranked first among mainland cities for 28 straight years.