At the recent "Strengthening of Equipment Manufacturing Industry in Shenzhen under Tight Constraints—Shenzhen Machinery Industry Entrepreneurs High-Level Forum" hosted by the Municipal Machinery Industry Association, local media reported that the Shenzhen Municipal Trade and Industry Bureau is intensifying efforts to accelerate the growth of the city's equipment manufacturing sector. A series of policy proposals have been introduced, aiming to implement incentive measures that will drive industry development. The goal is for the equipment manufacturing industry to achieve an added value of 200 billion yuan by 2010, making up 45% of the city’s total industrial output.
Experts from the Trade and Industry Bureau highlighted that while Shenzhen lacks a strong presence in large-scale machinery manufacturing compared to other industrial cities, it has significant strengths in fields such as electronics, communication systems, and electromechanical integration. Companies like Huawei and ZTE are leading in areas like program-controlled switches, while the city also excels in CNC machine tools, medical devices, and instrumentation. Shenzhen is recognized as one of China's emerging equipment manufacturing hubs and has been identified by Guangdong Province as one of three key cities for focused development in this sector.
According to official statistics, the value-added output of Shenzhen’s equipment manufacturing industry reached over 80 billion yuan in 2003, accounting for nearly 30% of the city’s GDP, with exports making up more than 60% of total exports. Preliminary estimates suggest that in 2023, the sector’s added value was approximately 100 billion yuan, representing 41% of the city’s total industrial output.
Wang Xiaochun, deputy director of the Trade and Industry Bureau, emphasized at the forum that Shenzhen is now in a golden period for equipment manufacturing development, driven by its industrial advantages, favorable environment, and alignment with national policies under the “11th Five-Year Plan.â€
The bureau is currently finalizing a medium- to long-term development plan for the sector and has outlined six strategic directions. These include supporting key enterprises and projects through land, capital, and listing incentives. Four major development areas have been initially identified: environmental protection equipment, water treatment systems, large-scale material recycling equipment, automation and measurement equipment, high-speed CNC machines, and integrated circuits, communications switches, biotechnology, and medical devices.
Many equipment manufacturers face challenges in securing funding, especially given the long production cycles and high capital requirements. Yang Chaohui, CEO of Shenzhen Han Digital Laser Technology Co., Ltd., called for greater financial support from banks. He noted that domestic banks have not yet adopted buyer credit mechanisms, which are commonly used internationally, where payment is made immediately upon delivery. This gap puts local manufacturers at a disadvantage compared to foreign firms.
Cheng Chunsheng, an expert from Shenzhen Securities Information Co., Ltd., suggested that equipment companies could leverage the capital market to address financing issues. Since 1993, 244 Chinese equipment manufacturing firms have gone public, raising a total of 100.6 billion yuan. Listing is now more accessible, with the Shenzhen Stock Exchange streamlining procedures, allowing companies to go public within a year.
Some industry leaders also stressed the urgent need for specialized industrial zones tailored for machinery and equipment manufacturing. Many companies currently struggle with limited factory space, often resorting to temporary structures or repurposing existing buildings. They urged the government to establish standard industrial parks with proper infrastructure to support long-term growth.
Finally, the president of Deweisen Technology (Shenzhen) Co., Ltd. emphasized the importance of cluster production and specialized division of labor. While government support is crucial, he argued that real progress requires collaboration between enterprises and industry associations to refine internal operations and foster sustainable development.
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