Guangdong's Shenzhen is expected to stir up a new wave of technological innovation which will allow the city to play a bigger role in driving China's high-quality growth.
The city is already leading in technology innovation in terms of patent volumes. The number of World Intellectual Property Organization's Patent Cooperation Treaty (PCT) filings from Shenzhen-based companies reached 18,000 in 2018, ranking it first in China for the 15th straight years and putting it on a par with Germany in the number of filings.
In terms of patent application filers, Shenzhen-based telecoms giant Huawei ranks first and ZTE stands fifth. The local government said the city's 5G-related PCT ranks first among major innovation cities worldwide.
The high level of technological innovation and product quality helped the company win customers in the global market. About 10 percent of its revenue went into research and development last year.
The high-tech industry is one of the biggest contributors. In the first half of 2019, the output value of the city's high-tech industry hit more than 1 trillion Yuan, up by 11 percent over the same period of last year, and its added-value surged more than 12 percent, the data showed.
Exports reached 757.14 billion Yuan in the first six months, up 5.1 percent from the same period of last year. Trade volume with Belt and Road countries and regions rose 5.7 percent.
Source: China Daily
