Shenzhen dethrones Shanghai, Beijing as China’s top industrial powerhouse: mayor
South China Morning Post
by Frank ChenFebruary 25, 2026
AI-Generated Deep Dive Summary
Shenzhen has emerged as China’s leading industrial and technological powerhouse, surpassing both Shanghai and Beijing in key economic indicators. According to Mayor Qin Weizhong’s annual work report, Shenzhen’s economy grew from 2.83 trillion yuan in 2020 to 3.87 trillion yuan by 2025, achieving an impressive 5.5% annualized growth rate. This growth outpaced Beijing and Shanghai, which both reported a 5.4% increase for the year 2025 alone. Shenzhen also topped Shanghai and Beijing in industrial output and export value in 2023, solidifying its position as the nation’s top manufacturing and exporting city.
The city’s success is driven by its focus on innovation and research and development (R&D). Shenzhen boasts the highest R&D density among Chinese mainland cities and ranks among the world’s best in computing power at the National Supercomputing Centre. This commitment to technology has positioned Shenzhen as a leader in artificial intelligence (AI) innovation and startup cultivation, where it is building a comprehensive AI ecosystem. These advancements are expected to further bolster its role in China’s broader economic and tech strategies.
Shenzhen’s rise is particularly significant given its preparations to host the Asia-Pacific Economic Cooperation (APEC) summit in November 2026. The event will provide Shenzhen with a global platform to showcase its economic model and technological achievements, aligning with China’s efforts to defend globalization amid increasing geopolitical and tech competition. As Shenzhen continues to lead in innovation and industrial output, it is reshaping the country’s economic landscape and setting itself apart as a key player on the world stage.
This shift underscores the growing importance of southern Chinese cities like Shenzhen in driving national and global economic trends. By fostering innovation, supporting startups, and leveraging its R&D capabilities, Shenzhen is not only challenging traditional hubs like Shanghai and Beijing but also setting a new standard for future growth and technological advancement. Its success story offers valuable insights into how regional economies can thrive by prioritizing innovation and strategic investments in technology.
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Originally published on South China Morning Post on 2/25/2026