Shenzhen is promoting its high-tech sector to showcase the nation’s ambitions in innovation and global competitiveness as the city prepares to host Apec.

The city has designated four foundational economic pillars, with the high-tech industry serving as Shenzhen’s primary economic engine and growth driver.

According to municipal government data, the added value of Shenzhen’s strategic emerging industries reached 1.67 trillion yuan last year, accounting for 43 percent of the city’s GDP.

Shenzhen is also home to more than 25,000 high-tech enterprises, ranking among the highest in the country.

Peter Ruan, founder of Shenzhen smart-glasses company GetD, said Chinese products are among the world’s most advanced technically and offer strong value for money.

He added that development is booming because Shenzhen has a complete industrial chain and its research and development staff are diligent and efficient.

Ruan hopes to use Apec as an opportunity to spotlight the "speed of Shenzhen" in the tech field to the world.

"In developing these glasses, we often work through the night, until late. To produce our newest model of glasses, we worked until seven in the morning," he said.

"This is the Shenzhen spirit. The can-do spirit. This Apec summit is a very important meeting for Shenzhen. I hope the international community can see Shenzhen’s development and speed."

Meanwhile, semiconductor company SLKOR said the city has a sound industrial ecosystem and is not afraid of international competition.

The company was founded about 10 years ago in Huaqiangbei, a major electronics commercial district in Shenzhen.

CEO Song Shiqiang said his company’s Bluetooth earphones, smart glasses and other smart wearable products have reached world-class levels.

Song said these products can already be exported overseas, and sales are expected to exceed 100 million yuan this year.

He also said that Huaqiangbei, known as "China’s No. 1 Electronics Street", has transformed in recent years, and shed its image as a marketplace for copycats and knockoffs.

"Huaqiangbei has now developed into China’s Huaqiangbei, even the world’s Huaqiangbei. Its industrial chain can cover upstream and downstream, and its ecosystem is developing well," he said.

"According to statistics from the Huaqiangbei Subdistrict Office, Huaqiangbei has now completely shed its copycat image and it has its own capacity for independent innovation."

According to Shenzhen authorities, the Huaqiangbei commercial area draws average daily foot traffic of 750,000, which includes about 8,000 foreign visitors.

Bilingual Chinese and English signage has been installed around commercial areas ahead of Apec to accommodate visitors.


Edited by Aaron Tam