Shenzhen is ranked only behind Beijing for the strength of its innovation-led business environment, according to an authoritative report released in Beijing.
According to the 2019 China Innovation City Evaluation Report, conducted by the state-run China Urban Development Research Institute, innovation is generally on the rise across the country. Its evaluation methodology scores the cities surveyed at an average of 67.12%, which is 3.87 percentage points higher than the previous year.
Shenzhen scored 80.41%, up 2.58 percentage points from the previous year. The city stood out for several advantages, such as ratio of R&D spend to sales, proportion of new product sales in overall sales, number of new patents per 10,000 employees of industrial enterprises, number of PCT patent applications per billion Renminbi of GDP, and number of United States-based patent holdings per billion Renminbi of GDP, among others.
Guangzhou ranked eighth with a score of 61.35%, up 1.66 percentage points from the previous year, which boosted its ranking by four places. Its advantages were noted in human resources and quality development, especially the proportion of the population with tertiary degrees or above, labor productivity, capital productivity and other indicators.
The research institute worked together with a wide grouping of other elite state institutions to compile the report. These included various units from the Central Party School’s administration division, National Development and Reform Commission, Ministry of Science and Technology, as well as universities and research institutes across the country.
The report made special mention of progress being made in the Greater Bay Area, calling it the “gateway for China’s southern region to open to the outside world”.