Han Ximin

1824295095@qq.com

SHENZHEN, long known for its vibrant entrepreneurship scene, is set to roll out an action plan to invite young talent and researchers from around the world to engage in entrepreneurship projects in the city.

The Kunpeng Youth Innovation and Entrepreneurship Action Plan was announced by Zhang Lin, director of the Shenzhen Science, Technology, and Innovation Bureau, during the opening ceremony of the 26th China Hi-Tech Fair (CHTF) on Thursday. It aims to enhance the city’s innovation capability and global appeal as a “City of Innovation.”

The action plan will be open to university students globally, and up to 1,000 projects and up to 10,000 university students and innovative young individuals will be selected. They can enter either by submitting their previous winning projects of prominent competitions or submitting applications.

Winning projects from prominent domestic and international innovation and entrepreneurship competitions, such as the China Innovation and Entrepreneurship Competition, will have a direct pathway into the plan. Additionally, a dedicated team at the bureau will process applications and oversee the selection process.

Under the plan, students will receive various forms of support including internships and the ability to participate in tech training camps, among other opportunities. Moreover, innovative and entrepreneurial youth will benefit from a comprehensive package of incentives tailored to support project incubation, growth, and sustainability — from startup resources, land, and housing to financial assistance and more.

The ongoing 26th CHTF has brought together more than 5,000 distinguished exhibitors from more than 100 countries and regions.

Noteworthy participants include more than 200 university delegations and over 30 international organizations that are presenting the latest advancements in technology from across the globe.

During the three-day tech extravaganza, more than 4,300 new technologies, products, and achievements will be released, including a number of advanced intelligent robots, artificial intelligence digital avatar products, and intelligent terminal applications, according to the organizer.

The event is expected to attract over 400,000 industry professionals. Furthermore, the presence of more than 3,000 renowned domestic and foreign investment institutions, such as Morgan Stanley, Blackstone, and Goldman Sachs, underscores the fair’s role in supporting the commercialization of scientific and technological research, driving innovative technologies, and supporting early-stage technology ventures.

Notable growth trends were observed in Shenzhen’s key sectors, with the added value of industrial enterprises above a designated size in the city rising by 10.2% in the first three quarters of the year, sustaining double-digit growth for eight consecutive months. Leading this growth were the electronics manufacturing industry at 13.7% and the automotive manufacturing sector at 36.3%.

During the same period, the output of new-energy vehicles, charging piles, and industrial robots surged by 48.1%, 120.5%, and 41.6%, respectively.

Shenzhen’s foreign trade amounted to 3.37 trillion yuan in the first three quarters, marking a 20.9% year-on-year increase. Exports of mobile phones, computers, and household appliances, known as the “old three items,” grew by 8.9%, 10.2%, and 23.9%, respectively. Notably, the “new three items” showed strong momentum, with electric vehicle and photovoltaic product exports increasing by 65.6% and 40.7%, respectively.

Recent data from the 2023 Guangdong Science and Technology Expenditure Report reveal that Shenzhen’s R&D expenditure in 2023 was 223.6 billion yuan, up 18.9% from the previous year. This marked the ninth consecutive year of double-digit growth and exceeded the 200-billion-yuan threshold for the first time.

Since its inception in 1999 with the approval of the State Council, the CHTF has evolved into a pivotal platform for showcasing China’s high-tech advancements, facilitating the exchange and trade of high-tech achievements, and advancing the country’s scientific development.