Food And Agriculture Products
Alcoholic Beverages
Health And Medical
Apparel, Decors And Fur
Industrial Raw Materials
Additives And Auxiliaries
Machinery And Equipment
Electricity, Lighting and Network
Other CategoriesJapanese "Nikkei Asian Review" article on August 9, original title: China's manufacturing center Shenzhen is undergoing a major transformation
As a global manufacturing center, Shenzhen is full of technology-driven start-ups. Now it is facing a huge change in the global business environment, which will have a huge impact on its future.
Soon after GDP surpassed Hong Kong, Shenzhen was hit by the Sino-US trade war and the new crown epidemic. This double whammy blocked the flow of venture capital to young and growing companies there. For manufacturing companies, financing is suddenly full of challenges. Even unicorns—private startups valued at more than $1 billion—are struggling to adjust.
The chairman of Shenzhen-based electronic product manufacturer Rouyu Technology Co., Ltd. admitted that "the new crown epidemic has affected the sales of smartphones and other products", but "we also see new business opportunities." Rouyu Technology sees the huge growth potential of online education. Due to the blockade caused by the new crown epidemic, online education has become a hot field. The company has accelerated the marketing of its smart writing tablet products.
Shenzhen's growing manufacturing industry has spawned countless start-ups. According to reports, Shenzhen has seen 10 proud unicorn companies in the past 10 years. Most of these companies are located in Nanshan District, which is home to many top companies, including Internet giant Tencent and research institutions and entrepreneurial support institutions from well-known universities.
In addition to manufacturing products, many unicorn companies in Shenzhen have also begun to develop software. Carbon Cloud Intelligence is developing rapidly with its artificial intelligence-based personal genome analysis service. "La Mabang" has developed a popular social media platform that focuses on parenting. The service industry and software account for an increasing proportion of Shenzhen’s economy. Their share in the city’s GDP has risen by nearly 10 percentage points over the past 10 years, reaching about 60%, highlighting that Shenzhen is moving from manufacturing to new Industrial Transformation. (Translated by Liu De)
