High-tech Development:Understanding China’s Global Expansion Policy!
Incessant research and development in the country’s technological hub, Shenzhen, is showcased worldwide via multifaceted products and services.
China’s expansionist success story since the Asian giant opted for “Opening Up Policy” may still be a mystery to many! In barely decades, the hitherto agrarian-dominated economy has stunned the world’s manufacturing sector with irresistible products and services. Evolutions in the country’s high-tech hub, Shenzhen, Guangdong province are convincing even to sceptics that China’s high-tech global expansion is almost unstoppable! The city hosts most of China and world’s emerging high-tech companies whose incessant research and innovations feed the world with diverse products and services.
Shenzhen hosts one of the world’s leading outfits in information and communication technologies (ICTs), but not the company’s products and services. Huawei since its birth in 1987 by Ren Zhengfei has been increasingly conquering the world with end-to-end ICTs portfolio that give customers competitive advantages in telecoms and enterprise networks, devices and cloud computing. Authorities told Cameroon Tribune at the company’s headquarters in Shenzhen on September 9, 2016 that by leveraging strong research and development capabilities, comprehensive technical expertise and continuous technical innovations; Huawei was committed to ‘building an open, resilient and secure platform in the enterprise market to orchestrate a sustainable and multi-win ecosystem.’ It recorded over 60 billion USD in 2015 as business turnover and 45 per cent of its global 176,000 employees are involved in science and technology.
Meanwhile, in the health domain, Shenzhen via a world-class medical equipment manufacturer and medical diagnostic apparatus, Mindray Medical International Limited, is drawing global attention. Authorities proudly take visitors through the 25-year history of the outfit with much to show in terms of research fruits in clinical medical equipment. This comprises patient monitoring and life support, clinical testing and reagents, digital medical ultrasound imaging as well as clinical anaesthesia system.
Contribution to Growth
According to Yao Weizhi, Deputy Director General, Foreign Affairs Office of Shenzhen Municipal Government, the “City of Miracle” which is also the laboratory of China’s reform and miniature of her modernisation is the most innovative city in China and the fastest growing city in the world. From a population of 300,000 with a GDP of 43 million USD in 1980, the city as at 2015 had a population of 11.38 million and a GDP of 280,898 million USD. Last year, its growth rate of 8.9 per cent was above national average and records equally show that the city has had an average annual growth rate of 27.76 per cent in the past 35 years. Shenzhen trades with 230 countries and regions in the world, had an international trade volume of 442 billion USD in 2015, 264 billion in exports volumes, 13 billion USD with Africa and standing tall as the largest exporter among Chinese cities for 23 years running.